Fiscal Note
The proposed resolution would amend the Community Development Division’s (CDD) 2023 adopted operating budget by accepting a $5,076,197 federal grant from the U.S. Department of Housing and Urban Development’s (HUD). Funding is available from supplemental HOME Investment Partnerships Program ("HOME-ARP") grant funds through the American Rescue Plan Act (ARPA). These HOME-ARP funds can be used to support local efforts to reduce homelessness and increase housing stability, including the acquisition and/or development of new housing.
HUD requires each HUD Entitlement community grantee to submit an annual Action Plan as a condition of receiving funds. The Common Council approved the City’s 2021 Action Plan in February of 2021. In order to receive the supplemental funds, the City must submit a Substantial Amendment to the 2021 Action Plan. The resolution would approve the proposed Substantial Amendment, accept the $5,076,197 federal grant, and amend the 2023 CDD Adopted Budget to reflect the grant revenues and commensurate expenditures. Additionally, the resolution authorizes CDD to conduct one or more requests for proposals to allocate HOME-ARP funds in a manner consistent with the allocation plan.
Title
Approving a Substantial Amendment to the City's FY21 Annual Action Plan to include supplemental HOME-ARP grant funds awarded to the City of Madison by HUD as part of the 2021 American Rescue Plan Act; amending the Community Development Division’s Adopted 2023 Operating Budget to recognize the additional grant revenue and commensurate expenditures; and authorizing the Community Development Division to issue one or more Request for Proposals to allocate the funds.
Body
BACKGROUND
On March 10, 2021, Congress enacted the American Rescue Plan Act of 2021 (H.R. 1319, Public Law 117-2, also known as "ARPA"), which provided additional funding to respond to multiple areas of need created by the COVID-19 pandemic. Acceptance of ARPA funds allocated by the U.S....
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