HomeMy WebLinkAbout16243 1 RESOLUTION NO. 16,243
2
3 A RESOLUTION TO APPROVE THE SOURCES AND USES OF FUNDS
4 PROVIDED IN THE 2024 CDBG, HOME AND HOPWA FUNDS FROM
5 THE UNITED STATES DEPARTMENT OF HOUSING & URBAN
6 DEVELOPMENT; AND FOR OTHER PURPOSES.
7
8 WHEREAS, as a Regulatory Requirement, a public hearing must be conducted regarding proposed
9 uses of 2024 Community Development Block Grant (CDBG), HOME Investment Partnerships (HOME)
10 and Housing Opportunities for Persons With AIDS (HOPWA) Funds, which the City expects to receive
11 from the United States Department of Housing and Urban Development; and,
12 WHEREAS, the City's projected 2024 Entitlements total Three Million, Three Hundred Sixty-Five
13 Thousand, Four Hundred Dollars ($3,365,400.00), with funds in the amount of Two Hundred Twenty-
14 Two Thousand, Five Hundred Eighteen and 14/100 Dollars ($222,518.14) from the 2023 Program added
15 to the entitlements, thereby making the total expected amount Three Million, Five Hundred Eighty-Seven
16 Thousand, Nine Hundred Eighteen and 14/100 Dollars($3,587,918.14); and,
17 WHEREAS,the proposed uses of the City's 2024 Entitlement Funds were developed with extensive
18 citizen participation, including two(2) public hearings, four(4) public meetings throughout the City and a
19 seventeen (17)-member Consolidated Planning Committee. Prior to this public hearing, the
20 Consolidated Planning Committee developed a slate of projects to recommend for Board approval so that
21 the public hearing will give citizens an additional opportunity to review and comment on the proposed uses
22 of the 2024 CDBG, HOME and HOPWA Funding; and,
23 WHEREAS, the Consolidated Planning Committee will submit an allocation of funds as its
24 recommendation to the Board.
25 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
26 OF LITTLE ROCK,ARKANSAS:
27 Section 1. The 2024 Consolidated Planning Proposed Sources and Uses of Funding is attached as
28 Exhibit A.
29 Section 2. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
30 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
31 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
32 effect as if the portion so declared or adjudged invalid or unconstitutional was not originally a part of the
33 resolution.
34 Section 3. Repealer. All resolutions, bylaws, and other matters inconsistent with this resolution are
35 hereby repealed to the extent of such inconsistency.
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1 ADOPTED: February 20,2024
2 ATT : APPROVED:
3 100 ')„,s,- ----
5 �' '1' gley, ..,_ Clerk Frank Scott,Jr.,Mayor
6 APPR " AS TO LEGAL FORM:
is78 4444444--7 11.4 '
9 Thomas M. Carpenter,City Att ey
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[Page 2 of 31
1 Exhibit A
2024 CONSOLIDATED PLANNING
SOURCES AND USES OF FUNDING
COMMUNITY DEVELOPMENT BLOCK GRANT:
SOURCES: AMOUNTS
PROJECTED 2024 CDBG ALLOCATION $ 1,484,369.00
TOTAL 1,484,369.00
USES:
* OWNER-OCCUPIED REHABILITATION $ 900,495.20
LANDBANK $ 5,000.00
CARELINK- MEALS ON WHEELS $ 70,000.00
CHI-ST. VINCENT EAST CLINIC $ 200,000.00
CENTER FOR AR LEGAL SERVICES $ 12,000.00
ADMINISTRATION (20%) $ 296,873.80
TOTAL $ 1,484,369.00
HOME INVESTMENT PARTNERSHIP PROGRAM:
SOURCES:
PROJECTED 2024 HOME ALLOCATION $ 844,274.00
2023 PROGRAM INCOME $ 222,518.14
TOTAL $ 1,066,792.14
USES:
* NEW CONSTRUCTION(2023 PROGRAM INCOME) $ 200,266.33
* NEW CONSTRUCTION $ 633,205.50
CHDO SET-ASIDE: $ 126,641.10
ADMINISTRATION (10%OF 2023 PROGRAM INCOME) $ 22,251.81
ADMINISTRATION $ 84,427.40
TOTAL $ 1,066,792.14
HOUSING OP PORTUNITIES FOR PERSONS WITH AIDS:
SOURCES:
PROJECTED 2024 HOPWA ALLOCATION $ 1,036,757.00
TOTAL $ 1,036,757.00
USES:
HOUSING ASSISTANCE AND RELATED SUPPORTIVE
SERVICES $ 933,081.30
PROJECT SPONSORS ADMINISTRATION $ 72,572.99
GRANTEE ADMINISTRATION $ 31,102.71
TOTAL $ 1,036,757.00
* PORTION OF THESE FUNDS WILL BE UTILIZED IN THE CITY OF LITTLE ROCK OPPORTUNITY
ZONES.
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