Title
Dept/ Agency: Administration/Office of Management and Budget
Action: (X) Ratifying (X) Authorizing (X) Amending
Type of Service: Transfer of CDBG Funds
Purpose: To amend CDBG Coronavirus Aid, Relief and Economic Security (CARES) ACT, CDBG-CV Allocation.
Funding Source: United States Department of Housing and Urban Development
Amount Transferred: Increased by $3,500,308.00
Transferred From: Special Economic Development Activities, Microenterprise Assistance, and Tenant Based Rental Assistance
Transferred To: Special Economic Development Activities, Microenterprise Assistance, and Tenant Based Rental Assistance
Additional Information:
Apply and Acceptance Resolution 7R1-c(AS) adopted February 3, 2021.
This amendment will increase the amount for the CDBG-CV Allocation by the following:
CDBG-CV3 Allocation -
$3,500,308
Special Economic Development Activities -
$300,308
Microenterprise Assistance -
$1,200,000
Rental Assistance -
$2,000,000
Two-Thirds vote of full membership required.
body
TR # 9
WHEREAS, Resolution 7R1-a, adopted November 7, 2019, authorized the Mayor and Business Administrator to submit a 2019 One Year Action Plan for Program Year 2019-2020 to the US Department of Housing and Urban Development and authorized acceptance of grant funds and execution of grant agreements necessary to receive those grant funds; and ; and
WHEREAS, on March 27, 2020, to assist communities in their efforts to prevent, prepare for and respond to the coronavirus pandemic (COVID-19), the Federal Coronavirus Aid, Relief and Economic Security Act (CARES) was signed into law and included supplemental formula allocations to HUD's Community Planning and Development Programs; and
WHEREAS, the City of Newark was allocated $4,310,416.00 in CDBG funds, $7,621,389.00 in ESG, and $842,513.00 in HOPWA funds as a result of the CARES supplemental formula allocations; and
WHEREAS, Resolution 7R1-a adopted on...
Click here for full text