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•s , <br /> . �e1 , <br /> Neighborhood Services Department Memorandum <br /> 01-53 <br /> August 15, 2001 <br /> TO: Honorable Mayor Terry M. Howley and City Council Members <br /> � <br /> From: Steve Garm ity Manager L// <br /> Linda J. Lov , terim Neighborhood Services Director �� � <br /> SUBJECT: Annual llocation of HOME funds to CHDOs <br /> SUMMARY RECOMMENDATION: Staff is of the opinion that the funds available for <br /> funding projects and operating expenses of the City's two CHDOs should be shared equally. <br /> BACKGROUND: The City of Decatur is required to set-aside a minimum of 15% of the annual <br /> allocation of HOME funds for activities undertaken by qualified Community Housing <br /> Development Organizations (CHDOs). Additionally, the City has budgeted 5% of the total <br /> allocation to the CHDO's for operating expenses. There are two locally designated CHDO <br /> organizations: The Neighborhood Housing Development Corporation and the Near Westside <br /> Restoration and Preservation Society. The City was allocated $739,000 in HOME funds for the i <br /> FY01-02, and as such will provide $111,000 for such CHDO activities. It is staff's <br /> recommendation to also provide $35,000 for operating expenses. Further, it is the <br /> recommendation of staff that these funds should be allocated in the following manner: <br /> • $55,500 to the Neighborhood Housing Development Corporation for projects and $17,500 <br /> for operating expenses <br /> • $55,500 io the Near Westside Restoration and Preservation Society for projects and$17,500 <br /> for operating expenses. <br /> POTENTIAL OBJECTIONS: None known. <br /> INPUT FROM OTHER SOURCES: None. <br /> STAFF REFERENCES: If Council members have questions, they may contact Linda Love at <br /> 424-2725 or email at ljlove@decaturnet.org <br /> BUDGET TIME/IMPLICATIONS: None. All resources are from the HOME grant for <br /> FY01-02. <br />