R2024-357 Resolution Authorizing Agreement with U. S. Department of Housing and Urban Development (HUD) HOME Investment Partnership Funds (HOME) FY2024

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ECONOMIC & COMMUNITY DEVELOPMENT MEMORANDUM No. 24-20 November 18, 2024 TO: Mayor Julie Moore-Wolfe and City Council Members FROM: Tim Gleason, City Manager Cordaryl"Pat"Patrick, Director of Economic & Community Development Richelle L. Dunbar, Asst. Dir. of Economic &Community Development SUBJECT: Authorization accepting FY24 HOME Investment Partnership funds (HOME)Agreement RECOMMENDATION: Staff recommend accepting the FY24 agreement for HOME Investment Partnership funds (HOME). The U. S. Department of Housing and Urban Development reviewed and approved the City's FY24 Annual Action Plan. This year's allocation includes $1,303,056 in Community Development Block Grant(CDBG) funds and$372,081.63 in HOME funds. BACKGROUND: In accordance with the guidelines set forth by the U. S. Department of Housing and Urban Development(HUD),the Neighborhood Revitalization Division develops an Annual Action Plan. The Annual Action Plan describes funding allocations for fiscal year 2024 along with strategic implementation of the priorities identified in the City's Five Year FY2020-2024 Consolidated Plan. The FY24 Community Development Block Grant agreement has not been released by HUD and will be forwarded to the City Council as soon as it is received. The City Council reviewed and approved the CDBG and HOME funding during the adoption of the FY24 budget. The final approved Action Plan is available for review on the City's website. POTENTIAL OBJECTIONS: Staff is not aware of objections. INPUT FROM OTHER SOURCES: Comments and information were secured through public meetings and input from a variety of community organizations. STAFF REFERENCE: Should the City Council have any questions,they may contact Richelle Dunbar, Asst. Dir., or Economic &Community Dev., at 424-2864 or e-mail rdunbar@decaturil.gov BUDGET/TIME IMPLICATIONS: None