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AGENDA ITEMS <br />1. Approval of Minutes from the Regular Meeting of March 9, 2015. <br />MOTION: Martinez <br />SECOND: Sarmiento <br />VOTE: AYES: <br />Martinez, Sarmiento (2) <br />NOES: <br />None (0) <br />ABSENT: <br />None (0) <br />2. Community Development Block Grant (CDBG) Fiscal Year 2015 -2016 Funding <br />Process and Recommendations Update {Strategic Plan 2, 2: 2, 4; 5, 4; 5, 6) — <br />(CDA) <br />Sylvia Vazquez, Community Development Analyst, provided presentation and <br />handouts on funding allocation, process, and recommendations. The allocation for <br />FY 2015 -2016 is $5.4 million for the City. The nonprofit application timeline and <br />process was outlined. Mandatory CDBG sub - recipient training was held for <br />applicants. All applications were reviewed and rated with top ten recommended for <br />funding; listing provided. Committee Chair Michele Martinez would like clarification <br />and breakdown of CRHC recommended funding. Listing to be provided to full <br />council who can reduce or adjust recommended funding. <br />Council members inquired on incentives for new businesses as often they may fail <br />in the first year or be considered `new' well into their third or fourth year of business. <br />Maybe we can be more flexible and make changes in criteria to incentivize plus <br />retention. Would like staff to provide the following in preparation of April 7t" full <br />council meeting: <br />a. Number of grants provided, businesses that fail in first year, business <br />licenses <br />b. Number of programs that have been helped or serviced <br />3. Update on Down Payment Assistance Program (Strategic Plan 5, 3c) — (CDA) <br />Sidney Stone, Housing Division Manager, reviewed presentation showing history <br />and current status of program. HUD requirements are strict and that makes it <br />difficult for the program. Staff will continue to work with developers and real estate <br />community and then update committee in three to four months. <br />Committee Chair Martinez would like to know how many were reached with NSP in <br />2012. <br />March 18, 2015 (Special) I Finance, Economic Development, & Technology Minutes <br />