Requested Agenda Date:
9/12/2023
Requested Agenda Title:
Title
Budget Adjustment: The Office of Regional Development requests to transfer $110,000 one-time from the Regional Projects Fund to the Housing and Community Development Division to prepare a required 5-year Consolidated Plan (2025-2029) for the administration of federal grant funds.
Body
Requested Agenda Item Description: ORD is seeking to transfer funds from the Regional Projects Fund (RPF) to the Housing & Community Development (HCD) Division to prepare a required 5-year Consolidated Plan (2025-2029) for the administration of federal grant funds.
The dollars were originally budgeted to conduct research on the opportunity costs of inefficient Transit Oriented Communities (TOC) development. However, the Housing & Community Development Division is required to prepare a 5-year Consolidated Plan because it administers U.S. Housing & Urban Development (HUD), Community Planning & Development. The consolidated planning process serves as the framework for a community-wide dialogue to identify housing and community development priorities that align and focus funding from the Community Planning & Development formula block grant programs - CDBG, HOME, and ESG. HCD expects to receive more than $22 million over five years beginning in 2025. The process needs to begin in fall 2023. The HCD budget does not reflect sufficient funds to pay for the required planning.
Requested Action: Discussion - Vote Needed
Presenter(s) (with titles): Hoa Nguyen, Council Budget and Policy Analyst
Time Needed: Less than 5 MINS
Is this Item Time-Sensitive and/or Requesting a Time-Certain? No
Requesting Staff Member: Dina Blaes, Regional Development, Director
Are Supporting Documents Needed for this Agenda Item Request? Yes