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File #: RES PH 20-192    Version: 1
Type: Resolution-Public Hearing Status: Passed
In control: City Council
Final action: 9/16/2020
Title: Amending the HOME general ledger budget to reflect the actual 2020 grant award of $1,895,972, program income reported to HUD of $1,100,758 and amending HOME projects budgets to include the 2020 spending plan.
Sponsors: Amy Brendmoen
Attachments: 1. HOME Financial Analysis
Title

Amending the HOME general ledger budget to reflect the actual 2020 grant award of $1,895,972, program income reported to HUD of $1,100,758 and amending HOME projects budgets to include the 2020 spending plan.

Body

WHEREAS, the City Council of the City of Saint Paul (“Council”) approved, upon the recommendation of the Mayor, the fiscal year 2020 Community Development Block Grant Program, HOME Investment Partnerships Program (“HOME Program”), and Emergency Solutions Grant Program (collectively the “2020 Programs”) budgets as part of the 2020 Special Funds Budget; and

WHEREAS, the Council approved estimated financing for the 2020 HOME Program in the amount of $2,996,730.00 (including program income of $1,100,758.00) as part of the 2020 Special Funds Budget; and

WHEREAS, by Resolution 20-81, the Council approved the 2020 HUD annual action plan, which estimated grant funding for the HOME Program to be $1,895,972.00, 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 2020 Programs; and

WHEREAS, the grant agreement between HUD and the City is in the amount of $1,895,972.00 for the 2020 HOME Program grant; and

WHEREAS, the City’s HOME Program general ledger fiscal year 2020 budget needs to be increased by $246,330.00 to reflect the actual grant amount awarded to the City pursuant to the 2020 HOME Program grant agreement and the actual program income reported; and

WHEREAS, the HOME Program grant projects budgets need to be amended to reflect the 2020 grant award and use of program income for administration budget in the amount of $584,068.80 and for undesignated budget in the amount of $1,370,240.06; and

WHEREAS, the West Side Flats project has been allocated $990,000.00 and a HOME grant project budget is being set up; and

WHEREAS, the Mayor, pursuant to Section 10.07.01 of the Charter of the City of S...

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