Explanation
BACKGROUND: This ordinance authorizes the return of $209,284.59 to the U.S. Department of Housing and Urban Development (HUD) from which the original CDBG and HOME dollars were drawn. The return represents funds of $110,104 previously drawn for projects that were deemed an ineligible use of funds due to not meeting program requirements. It also represents funds of $99,180.59 in BWC refunds that were eligible expenses drawn in prior years and refunded from BWC in 2018 and required to be returned. Upon return, the funds will be made available to the City of Columbus for use for another project eligible under the CDBG program guidelines.
Emergency action is requested in order to return the funds immediately pursuant to HUD procedure.
FISCAL IMPACT: Funds totaling $99,180.59 have been returned from BWC and are currently on hand and $110,014 of ineligible expense was expenditure corrected to be expensed from another funding source and the drawn cash is on hand. Funds will be returned to HUD and will be added to the federal account available to the City for future use.
Title
To authorize an appropriation of $7,485.33 within the HOME Fund (2201) and $201,799.26 within the CDBG Fund (2248), to the Department of Finance and Management; to authorize the Director of Finance to return funds to the U.S. Department of Housing and Urban Development from which the original CDBG and HOME dollars were drawn; to authorize the expenditure of $7,485.33 in HOME Funds and $201,799.26 in CDBG Funds; and to declare an emergency. ($209,284.59)
Body
WHEREAS, the Department of Finance and Management desires to return funds to the U. S. Department of Housing and Urban Development (HUD), pursuant to HUD procedure, which were originally drawn from the City’s line of credit accounts with HUD; and
WHEREAS, upon return of the funds to HUD, the funds will be made available to the City of Columbus in its CDBG and HOME line of credit accounts for use in future projects eli...
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