Title
Amending the HOME general ledger budget to reflect the actual 2018 grant award of $1,938,350 and amending the HOME activities budgets to include the 2018 grant award.
Body
WHEREAS, the City Council of the City of Saint Paul did approve, upon the recommendation of the Mayor, the fiscal year 2018 Community Development Block Grant, HOME , and Emergency Solutions Grant Programs ( “2018 Programs”) as part of the 2018 Special Funds Budget; and
WHEREAS, by Resolution 18-696, the City Council of the City of Saint Paul 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 2018 Programs; and
WHEREAS, during the 2018 Budget Process, the City Council of the City of Saint Paul approved the estimated financing for the 2018 HOME Program in the amount of $1,500,000; and
WHEREAS, the grant agreement between the U.S. Department of Housing and Urban Development and the City is in the amount of $1,938,350 for the 2018 HOME grant program; and
WHEREAS, the HOME general ledger fiscal year 2018 budget needs to be increased by $438,350 to reflect the actual grant amount per the 2018 HOME grant agreement; and
WHEREAS, the HOME grant activities budgets need to be amended to reflect the 2018 grant award for administration in the amount of $193,835 and the 2018 grant award for the undesignated budget in the amount of $1,744,515
NOW, THEREFORE, BE IT RESOLVED that upon the recommendations of the Mayor, the City Council adopts these changes to the HOME grant program budget as noted in the attached Financial Analysis Form.
(Please see the attached financial analysis form.)