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Amending the HOME 2025 general ledger budget to reflect the program income amount in the 2025-26 HUD Consolidated Plan-Annual Action Plan of $206,225.38 and amending the HOME project budgets to reflect the 2025 HOME spending of $1,629,610.90.
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WHEREAS, the City Council of the City of Saint Paul (“Council”) approved, upon the recommendation of the Mayor, the fiscal year 2025 Community Development Block Grant Program (“CDBG Program”), HOME Investment Partnerships Program, and Emergency Solutions Grant Program (collectively the “2025 Programs”) budgets as part of the 2025 Special Funds Budget; and
WHEREAS, the Council approved estimated financing for the 2025 HOME Program in the amount of $1,500,000 (including $76,614.48 in program income) as part of the 2025 Special Funds Budget; and
WHEREAS, by Resolution 25-660, the Council approved the 2025 HUD annual action plan, which estimated grant funding for the HOME Program to be $1,740,936, and authorized certain City officials to execute grant agreements and contracts between the U.S. Department of Housing and Urban Development (“HUD”) and the City of Saint Paul (“City”) for the 2025 Programs; and
WHEREAS, the grant agreement entered into by and between HUD and the City awards the City $1,420,000.00 in grant funds for the 2025 HOME Program; and
WHEREAS, the City’s HOME Program general ledger fiscal year 2025 budget needs to be increased by $129,610.90 to reflect the actual program income funding reported to HUD; and
WHEREAS, as part of the 2025 HOME Program budget, the City seeks to include its 2025 HOME spending totaling $1,629,610.90; and
WHEREAS, the attached Financial Analysis Form reflects the HOME Program budget as adopted by the Council as part of the 2025 Special Funds Budget, the changes set forth in this Resolution and the amended 2025 budget for the HOME Program upon adoption of this Resolution; and
WHEREAS, the Mayor, pursuant to Section 10.07.01 of the Charter of the City of Saint Paul, does certify that there are funds in the amount of $129,610.90 in excess of those estimated in the budget available for appropriation in the HOME Program.
NOW, THEREFORE, BE IT RESOLVED that upon the recommendations of the Mayor, the City Council adopts the following amendments to the HOME Program budget, which are reflected in the attached Financial Analysis Form:
1. To increase the HOME general ledger fiscal year 2025 budget to reflect program income of $206,225.38 for the 2025 HOME Program.
2. To include the City’s 2025 HOME spending of $1,629,610.90.
Financial Analysis
See attachment.