Title
Resolution to approve the draft 2024 Annual Action Plan for HUD submittal
Presenter:
Catherine Duarte, HUD Programs Manager, Housing and Community Vitality Department
Body
Summary:
Approval of the Annual Action Plan draft to HUD identifying strategies and performance expectations, as well as planned activities for the 2024 program year (Apr 1, 2024 through Mar 31, 2025)
Background:
The City of Colorado Springs is a U.S. Department of Housing and Urban Development (HUD) entitlement grantee and receives allocations of federal block grant funds under the Community Development Block Grant Program (CDBG), Home Investment Partnerships Program (HOME) and Emergency Solutions Grant (ESG). The purpose of the funds is to benefit low- and moderate- income residents of Colorado Springs, prevent slum and blight, encourage the development, improvement, and preservation of affordable housing, prevent homelessness and meet other urgent community needs. To be eligible to receive the annual entitlement grants, the City must develop and submit to HUD an Action Plan every year, identifying activities for the coming program year.
This item supports the City's strategic goal relating to building community and collaborative relationships by addressing a shortage of affordable housing, funding efforts to address and prevent homelessness, and improving the built environment in low- to moderate-income neighborhoods.
Furthermore, this item is supported by and implements PlanCOS Vibrant Neighborhoods Policy VN-2-A pertaining to attainable housing and providing a variety of housing types for various life stages and income levels.
Previous Council Action:
Council reviewed and approved the 2024 City budget in the fall of 2023. This budget included our estimate of entitlement grant funding from HUD and of program income.
Financial Implications:
The 2024 Annual Action Plan lays out the Department's expected financial resources. The Division drafted the 2024 Action ...
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