Title
A resolution approving the City of Colorado Springs Substantial Amendment to the Program year 2014 Action Plan for the use of Community Development Block Grant funds provided through the U.S. Department of Housing and Urban Development
Presenter:
Aimee Cox, Community Development Manager, Planning and Community Development
Body
Summary:
The Community Development Division is requesting City Council approval to allocate $1,780,000 of available 2014 CDBG funds for the purpose of constructing key facilities on the Springs Rescue Mission campus to support people experiencing homelessness. This requires a Substantial Amendment to the 2014 Annual Action Plan. Springs Rescue Mission staff will present the project to City Council.
Previous Council Action:
City Council approved the 2014 Action Plan by Resolution No. 60-14 on June 24, 2014.
Background:
The City of Colorado Springs (City) Community Development Division administers Community Development Block Grant (CDBG) funds received on an annual basis from the U.S. Department of Housing and Urban Development (HUD). The funds are made available to carry out a variety of housing, community, and economic development activities based on an Annual Action Plan approved by the City Council. Prior to 2015, HUD accounting was "first in, first out," meaning that projects were funded from the oldest funds available in the U.S. Treasury and not necessarily current year funds. Many past year projects did not require all of the funding available, and in addition, the City has often received more program income than anticipated, typically in the form of loan repayments. Over time, unspent funds have accumulated in the U.S. Treasury, resulting in approximately $1,915,000 of 2014 CDBG funds currently available for reprogramming.
This Substantial Amendment to the 2014 Action Plan allocates an additional $1,780,000 of available 2014 CDBG funds to $720,000 previously allocated to the Springs Rescue Mission project i...
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