Title
a. Hold a Public Hearing on Monterey County’s Community Development Block Grant (CDBG) Program Income Reuse Plan with Jurisdictional Certifications;
b. Approve the CDBG Program Income Reuse Plan with Jurisdictional Certifications; and
c. Authorize the Director of Economic Development to execute the CDBG Program Income Reuse Plan with Jurisdictional Certifications.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
a. Hold a Public Hearing on Monterey County’s Community Development Block Grant (CDBG) Program Income Reuse Plan with Jurisdictional Certifications;
b. Approve the CDBG Program Income Reuse Plan with Jurisdictional Certifications; and
c. Authorize the Director of Economic Development to execute the CDBG Program Income Reuse Plan with Jurisdictional Certifications.
SUMMARY:
On March 19, 2013, the Board of Supervisors opened a public hearing on the County of Monterey’s CDBG Program Income Reuse Plan. The public hearing was continued. The CDBG Program Income Reuse Plan format has been revised by the State of California, Department of Housing and Community Development (HCD) to comply with federal requirements. The County is required to adopt the new CDBG Program Income Reuse Plan as a condition of proceeding with projects recently funded by HCD through the CDBG program.
DISCUSSION:
The CDBG Program Income Reuse Plan (PI Reuse Plan) provides the policies and procedures associated with income received by the County that has been directly generated from the use of CDBG funds. Program Income is the repayment of principal, interest and fees on loans originally funded with a CDBG grant or CDBG Program Income. Reuse of the Program Income must comply with specific requirements and can only be used for CDBG eligible activities. CDBG regulations require the County to conduct a Public Hearing as part of the Board’s consideration of the PI Reuse Plan. Notice of this public hearing was published on April 12, 2013, in the Sali...
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