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Public Hearing - Community Development <br />Block Grant Program Fiscal Year 2009-2010 <br />April 6, 2009 <br />Page 3 <br />completion of the process necessary to submit our locally approved <br />program to HUD. <br />FISCAL IMPACT <br />Approval of the recommended action will authorize the City Manager to <br />submit the approved program to HUD and to execute a grant agreement, <br />which will result in the City's CDBG letter of credit being augmented. <br />These funds will be available for the approved program effective July 1, <br />2009. <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br />1U~'Cynthia J. Nelson <br />__DD Deputy Cit Manager for <br />Development Services <br />Community Development Agency <br /> <br />Francisco Gutierrez ~,~/ <br />Executive Director "~f <br />Finance & Management Services Agency <br />CJN/NTE/kcg <br />H:\ACTION ITEMS\COUNCIL\2009CC\040609 P.H. CDBGProgramFY 09-10.doc <br />75B-3 <br />