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06/05/2012 06 2012 CDBG and HOME Funds Budget Amendment - Public Hearing BUSINESS OF THE CITY COUNCIL YAKIMA, WASHINGTON AGENDA STATEMENT (,�� Item No. `0 For Meeting of: June 5, 2012 ITEM TITLE: Public Hearing regarding 2012 CDBG and HOME Funds Budget Amendment SUBMITTED BY: Joan Davenport, Acting Director of Community and Economic Development CONTACT Archie M. Matthews, Neighborhood Development Services PERSON /TELEPHONE: Manager (575 - 6101) SUMMARY EXPLANATION: The Department of Housing and Urban Development (HUD) has announced the actual CDBG entitlement amount awarded to the City of Yakima of in the amount of $887,581. The actual HOME entitlement allocation has been set at $393,000.The CDBG amount represents a decrease of 17.3% from the 2011 entitlement. Adjustments to programs must be made to address this reduction in funds. This budget reduction necessitates a budget amendment and reduction of program funding in both the CDBG and HOME funded programs. The Public Hearing will allow citizen comments on the proposed amendments to the City of Yakima 2012 Annual Action Plan. The second and final public hearing will be held at the next City Council Business meeting on June 19, at 7:00 p.m. Resolution Ordinance Other (specify) Contract: Mail to: Contract Term: Amount: Expiration Date: Insurance Required? No Funding Source: Phone: APPROVED FOR SUBMITTAL: City Manager STAFF RECOMMENDATION: Consider testimony and conduct the required second Public Hearing on June 19, 2019 to consider amendments to the City of Yakima 2012 Annual Action Plan.. BOARD /COMMISSION RECOMMENDATION: ATTACHMENTS: Click to download No Attachments Available Proposed 2012 Annual Action Plan Budget Amendments Due to the reduction in Fiscal Year 2012 allocations as received by the City of Yakima from the U.S. Department of Housing and Urban Development (HUD), the City of Yakima Office of Neighborhood Development Services is proposing to amend the 2012 Annual Action Plan budget and programs as submitted to HUD. The 2012 Annual Action Plan as adopted by the Yakima City Council estimated the allocations from HUD to be: • Community Development Block Grant (CDBG) at $965,854 and actual is $887,581 • HOME Investment at $537,347 and actual is $393,000 Due to the severe reduction, the Office of Neighborhood Development Services is proposing eliminating the Down Payment Assistance Program in order to complete the Neighborhood Stabilization Program as contracted with the State of Washington, concerning the North 3rd Street Affordable Housing Project. The Down Payment Assistance Program is the only program currently proposed for elimination. The HOME funded "First Time Homeowner Program" will continue to assist first time homeowners as funding allows. The other programs will continue to be funded at reduced levels to compensate for the budget reductions. The HUD mandated thirty (30) day written comment period ran from January 30, 2012 through February 29, 2012 and no written comments as to this proposed budget amendment was received.