Title
Consider/Discuss/Act on an Ordinance Amending the Fiscal Year 2019-2020 Annual Budget for the Collin County Allocation of "CARES Act" Funding for the Direct Cost Program and Emergency Housing and Living Assistance Program
Summary
COUNCIL GOAL: Enhance the Quality of Life in McKinney
(5E: Develop sustainable quality of life improvements within the City of McKinney)
MEETING DATE: May 19, 2020
DEPARTMENT: City Manager's Office
CONTACT: Paul Grimes, City Manager
RECOMMENDED CITY COUNCIL ACTION:
* Approval of the Ordinance.
ITEM SUMMARY:
* This Ordinance amends the Fiscal Year 2019-2020 Annual Budget Program in the amount of $16,987,967, for the Collin County Allocation of "CARES Act" Funding for the Direct Cost Program and Emergency Housing and Living Assistance Program.
* There are companion agenda items for the two Interlocal Agreements with Collin County, providing the framework for the distribution of CARES Act Funding, from the Department of the Treasury, through Collin County, to the City of McKinney
BACKGROUND INFORMATION:
* Collin County received CARES Act Funding to provide ready funding to address unforeseen financial needs and risks created by the COVID-19 public health emergency.
* Collin County Commissioners Direct Costs Program allocated funding based on a per capita basis to cities within Collin County
* Collin County Commissioners requested a partnership with Allen, Frisco, McKinney and Plano CDBG programs in order to distribute the Emergency Housing and Living Program funding to nonprofits and all residents of Collin County.
FINANCIAL SUMMARY:
* The total amount of the budget amendment is $16,987,967:
o $10,098,348 of Direct Cost Program funding for eligible COVID 19, post March 1, 2020 expenses, including preparation for the future re-emergence of COVID 19
o $6,889,619 of Emergency Housing & Living Assistance Program funding to provide mortgage, rental, utility and food assistance to Collin County residents earning up to 200...
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