Title
Amending the HOME project budgets to reflect the earned 2024 HOME program income of $3,356.60.
Body
WHEREAS, the City Council of the City of Saint Paul did approve, upon the recommendation of the Mayor, the fiscal year 2024 Community Development Block Grant, HOME, and Emergency Solutions Grant Programs ("2024 Programs") as part of the 2024 Special Funds Budget; and
WHEREAS, by Resolution 24-631, the City Council of the City of Saint Paul approved the 2024 annual action plan and authorized the proper 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 2024 Programs; and
WHEREAS, during the 2024 Budget Process, the Council of the City of Saint Paul approved the estimated financing for the 2024 HOME Program in the amount of $2,168,393.00; and
WHEREAS, the grant agreement between the U.S. Department of Housing and Urban Development and the City is in the amount of $1,483,503 for the 2024 HOME grant program; and
WHEREAS, the HOME project budget needs to be increased by $3,356.60 to reflect the current HUD undesignated program income balance
WHEREAS, the Mayor, pursuant to Section 10.07.01 of the Charter of the City of Saint Paul, certifies that additional funds in the amount of $3,356.60 are available for appropriation into the existing grant project budget;
NOW, THEREFORE BE IT RESOLVED that upon the recommendations of the Mayor, the City Council adopts these changes to the HOME grant project budget as noted in the attached Financial Analysis Form.