2014.04.08 EDA Agenda Packet - Laserfiche WebLink

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2014 PROJECT SUMMARIES AND FUNDING RECOMMENDATIONS 2014 CDBG & HOME Funding Allocation Discussion The 2014 fiscal year budget for the US Department of Housing and Urban Development (HUD) has not been approved as of the date of this draft, due to the Sequestration and federal budget issues that were postponement to January 2014. Similar to the last three years, without a budget approval Washington County does know the final amount of funds that will be available for the Community Development Block Grant and Home Investment Partnerships Programs for the 2014 program year. The 2014 fiscal year budget for the US Department of Housing and Urban Development (HUD) has not been approved as of the date of this draft and the extent of any cuts and where they will be made, remain unknown. Without a budget approval Washington County does not know the final amount of funds that will be available for the Community Development Block Grant and Home Investment Partnerships Programs for the 2014 program year. The fact that funding for the 2014 fiscal year has not been approved poses a dilemma with the HUD requirement that Annual Action Plans shall be submitted 45 days before the start of the current program year. To ensure that Washington County meets the 45 day deadline set by HUD, the county has proceeded with its 2014 Program Year funding allocation process using a conservative estimate of how much Community Development Block Grant (CDBG) and Home Investment Partnerships Program (HOME) funds will be available to allocate. We have therefore analyzed a two tiered 2014 budget forecast and have projected funding based on the more conservative 10% estimated reduction. A discussion of how any subsequent increases or decreases to the 2014 budget and projects is included at the end of this report. Tiered 2014 Projected Budget 0% Reduction based on 2013 Allocations 2013 Community Development Block Grant (CDBG) base $669,694.00 2013 Reallocated CDBG Admin $935.79 2013 HOME Investment Partnerships (HOME) base $215,095.00 2011 Reallocated HOME funds $ 2,501.08 TOTAL $888,225.87 10% Reduction based on 2013 Allocations $669,694 x 10% cut = $66,969 reduction $602,725.00 2012 Reallocated CDBG Admin to Projects $935.79 $215,095 x 10% cut = $21,509 reduction $193,586.00 2011 HOME Reallocated HOME funds 2,501-08 TOTAL $799,747.87 For the purpose of our Annual Action Plan draft, Washington County will allocate funding to the following 2014 projects/activities, based on the 2013 allocation of $602,725 in CDBG and $193,586 in HOME funds which includes an estimated 10% program cuts. The funding recommendations are based on the combined staff and Citizen Advisory Committee project