2000-76RESOLUTION NO. 2000-76
RESOLUTION REALLOCATING COMMUNITY DEVELOPMENT BLOCK GRANT
(CDBG) PROGRAM FUNDS
WHEREAS, the Local Economic Development Revolving Fund (LEDRF) has a cun'ent balance of
approximately $142,000; and
WHEREAS, no loans have been made from this revolving fund since 1994; and
WHEREAS, funding is required for the Home Improvement Program since a lack of funds has
resulted in a waiting list of approximately twenty-nine (29) homeowners who need assistance in order
to rehabilitate their properties; and
WHEREAS, the Community Development Authority has held a public hearing and has reviewed and
recommended that the 2000 CDBG Budget be revised to reallocate $141,842 from the LEDRF to the
Home Improvement Program and that all future program income from the LEDRF be reallocated to the
Home Improvement Program; and
WHEREAS, the Common Council finds that it is in the community's best interests to fulfill the
requirements to make revisions to the FY2000 Community Development Block Grant Program as
recommended.
NOW, THEREFORE BE IT RESOLVED by the Common Council of the City of Janesville that it
hereby authorizes and directs the City Manager to submit the revision to the U. S. Department of Housing
and Urban Development including all assurances contained therein, and that the City Manager is authorized
to act in connection with the submission of these revisions and provide such additional information as may
be required. The City Manager is also hereby authorized to revise the FY2000 budget document to
reflect the reallocation of Community Development Block Grant Program fimds and the expenditures
as reflected in this resolution.
ADOPTED: August 28, 2000
APPROVED:
'gi~e~en E. Shei~e~, City Manager
ATTEST:
Jegtf/Ann Wall, City Clerk-Treasurer
APPROVED. A~ TO F~ORM: t ct~q[lO
City Attor~y~' --
MOTION BY: 0 ' Leary
SECOND BY: Noll
COUNCILMEMBER AYE NAY PASS ABSENT
SCHNEIDER X
WILLIAMS X
NOLL X
BRIEN X
MURPHY X
O'LEARY x
DEGARMO X
Proposed by: Housing & Neighborhood Services
Prepared by: Housing & Neighborhood Services