Title
Consider/Discuss/Act on an Ordinance of the City Council of the City of McKinney Texas Authorizing Certain Budget Amendment Pertaining to the Fiscal Year 2012-13 Budget for CDBG Reallocation
Summary
MEETING DATE: April 2, 2013
DEPARTMENT: Housing & Community Development
CONTACT: Shirletta Best, Community Services Administrator
RECOMMENDED CITY COUNCIL ACTION:
· Approve budget amendment for CDBG FY 2012-13 fiscal year.
ITEM SUMMARY:
· The budget amendment serves to administratively correct approved CDBG funding reallocated for previous fiscal year for use in FY 2012-13 under housing activities. Funding will be used for housing rehabilitation activities including emergency, minor and major repairs for low-income persons.
· All funding has been allocated to programs or awarded.
BACKGROUND INFORMATION:
· Budget, including reallocation was approved by City Council July 17, 2012.
FINANCIAL SUMMARY:
· The increase of $92,981 will increase the housing rehab budget from $87,400 to $180,381. The increase of $15,000 will increase the grants to community from $26,579 to $41,579.
BOARD OR COMMISSION RECOMMENDATION:
· N/A