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CDBG Program FY 2014 -2015 <br />April 15, 2014 <br />Page 2 <br />proposals from non - profit organizations to apply for up to ten percent of the public service <br />allocation. <br />HUD has released CDBG funding allocations for the upcoming fiscal year and Santa Ana will <br />receive $5,560,186. This is approximately a two percent reduction from the estimated figures <br />presented to the Finance, Economic Development & Technology Council Committee at its special <br />meeting on February 24, 2014. Funding recommendations have been adjusted proportionally <br />based on the reduced actual allocation from HUD. <br />The proposed FY 2014 -2015 CDBG program and budget (Exhibit 1) consists of staffs funding <br />recommendations for the program. The City Council public hearing provides an opportunity for <br />public input and the completion of the process necessary to submit our locally approved program <br />to HUD as part of the Annual Consolidated Plan. <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 $5,560,186. <br />Shelly La ry-Bay e <br />Housing Manager <br />Community Development Agency <br />SLB /SG /sv <br />Exhibit: 1. Program Recommendations <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br />Francisco Gutierrez <br />Executive Director at <br />Finance & Management Services Agency <br />75B -2 <br />