Title
Dept/ Agency: Administration/Office of Management and Budget
Action: ( ) Ratifying (X) Authorizing (X) Amending
Type of Service: Transfer of CDBG Funds
Purpose: Amending CDBG Coronavirus Aid, Relief and Economic Security (CARES) Act, CDBG-CV Allocation
Funding Source: United States Department of Housing and Urban Development
Amount Transferred $500,000.00
Transferred From: Microenterprise Assistance
Transferred To: Tenant Based Rental Assistance
Additional Information:
Amending Resolution 7R1-k, adopted on August 19, 2020, authorized the City of Newark to accept funds for the Coronavirus Aid, Relief and Economic Security Act (CARES) in the amount of $4,310,416.00.
This amendment will decrease the amount for the CDBG-CV Allocation Microenterprise Assistance from $1,800,000.00 to $1,300,000.00 and increase the amount for the CCBG-CV Allocation Tenant Based Rental Assistance from $1,300,000.00 to $1,800,000.00.
Two-Thirds vote of full membership required.
body
TR # 8
WHEREAS, the Resolution 7R1-K, adopted August 19, 2020, authorized the City of Newark to accept funds for the Coronavirus Aid, Relief and Economic Security Act (CARES) for the prevention, preparation and response to the coronavirus pandemic (COVID-19) to meet the needs of the citizens of Newark; and
WHEREAS, said Resolution 7R1-k adopted on August 19, 2020, listed the amounts awarded for the CDBG-CV allocations Microenterprise Assistance and Tenant Based Rental Assistance at $1,800,000.00 and $1,300,000.00 respectively; and
WHEREAS, the Administration desires to correct Resolution 7R1-k adopted on August 19, 2020, to reflect the actual CDBG-CV Allocations: the Microenterprise Assistance award amount of $1,300,000.00 instead of $1,800,000.00 and the Tenant Based Rental Assistance award of $1,800,000.00 instead of $1,300,000.00.
NOW, THEREFORE, BE IT RESOLVED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:
1. The Municipal Council hereby authorizes the Mayor and/or his designee, the Business Administrator, to correct the CDBG-CV Allocations, as listed in Resolution 7R1-k adopted on August 19, 2020, to reflect $1,300,000.00 as the correct allocation amount awarded for Microenterprise Assistance and $1,800,000.00 as the correct allocation amount awarded for Tenant Based Rental Assistance as listed in the July 28, 2020 award letter dated from the U.S. Department of Housing and Urban Development.
2. That transfer of funds are required as shown in the schedule below:
PROJECT FROM TO
CDBG-CV Allocation
Microenterprise Assistance
Salaries and Wages -0- -0-
Other Expenses $1,800,000 $1,300,000
Tenant Based Rental Assistance
Salaries and Wages -0- -0-
Other Expense $1,300,000 $1,800,000
TOTAL ALLOCATION $3,100,000 $3,100,000
STATEMENT
Resolution amends and authorizes the allocation amount for the Microenterprise Assistance and Tenant Based Rental Assistance Programs, as identified in the Substantial Amendment for the PY2019 Annual Action Plan for the Community Development Block Grant (CDBG).