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<br /> AA and Amendments to Empowerment Zone Agreements <br /> March 15, 2010 <br /> Page 2 <br /> Upon reconciling of the FEZ accounts in preparation for the grant close-out, staff has identified <br /> $176,990 of previously unrecognized budgeted revenues from prior years and $8,010 of Program <br /> Year Eleven Administration funds that will not be needed. Per HUD guidelines, these funds must <br /> be fully expended by July 2, 2010 or returned to the U.S. Treasury. <br /> The Cambodian Family and KidWorks are currently operating under the agreements approved by <br /> the SAEC. During the competitive RFP process these two organizations submitted proposals <br /> requesting more funding than what was awarded by the SAEC. In light of this fact, staff is <br /> recommending the agreements with these two organizations be amended to expand the <br /> Empowerment Community and Adult Works program. The Cambodian Family and KidWorks <br /> have both acknowledged that they can expand these programs and have the ability to spend the <br /> additional funds on or before the HUD deadline. <br /> FISCAL IMPACT <br /> The appropriation adjustment will increase the Empowerment Zone revenue account (no. <br /> 12918002-50001) by $176,990 and appropriate the same into the Empowerment Zone Year 11 <br /> expenditure account (no. 12918760-69135). <br /> APPROVED AS TO FUNDS AND ACCOUNTS: <br /> Cynthia J. Nelson Francisco Gutierrez <br /> Deputy City Manager for Executive Director <br /> Development Services Finance & Management Services Agency <br /> Community Development Agency <br /> CJN/LS/DS/kg <br /> Exhibits 1. Amendments <br /> 20C-2 <br /> <br />