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Public Hearing - CDBG Program FY 2012-2013 <br />April 2, 2012 <br />Page 2 <br />The proposed Fiscal Year 2012-2013 CDBG program and budget (Exhibit 1) consists of the staffs <br />funding recommendations for the program. The City Council public hearing will provide an <br />opportunity for public input and the completion of the process necessary to submit our locally <br />approved program to HUD. <br />FISCAL IMPACT <br />Approval of the recommended action will authorize the City Manager to submit the approved <br />program to HUD and to execute a grant agreement, which will result in the City's CDBG letter of <br />credit being augmented by an estimated $5,680,480. <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br />'h l (?? a"(-? <br />Nancy T. wards <br />Interim Ex utive Director, <br />Community Development Agency <br />Francisco Gutierrez <br />Executive Director r <br />Finance & Management Services Agency <br />NTE/FH/mlr <br />Exhibit: 1: Program Recommendations <br />75A-2