Submitted by: Treasurer
Submitting Department: Finance
Agenda Section: Consent
Item Title:
title
FY21 Budget Amendment: Maryland DHCD Community Legacy Grant Award Funds
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Suggested Action:
recommendation
I move that the Mayor and Council amend the FY21 Special Revenue Budget in Fund 23 for Contracted Services State DHCD Commercial Improvements by appropriating the balance of $50,000 in Community Legacy Grant Funds that were approved in prior fiscal years to support capital improvement projects.
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Summary Background:
As a State of Maryland designated Sustainable Community, the City is eligible to apply for Community Legacy grant funds as well as other State funding programs authorized under the Sustainable Communities Act of 2010. In order for a project to be eligible for funding it must be located in a geographic area designated by the Governor's Smart Growth Subcabinet and must support the plan that has been approved by the Smart Growth Subcabinet as a Sustainable Community Plan. The City of Hyattsville has received Community Legacy grant funds to support a variety of capital improvements projects and programming efforts as follows: (1) Business retention (2) Expansion and attraction initiatives (3) Streetscape improvements (4) Increasing homeownership and home rehabilitation (5) Residential and commercial fa?ade improvement programs (6) Real estate acquisition, including land banking and strategic demolition and (7) Establishing funds to provide loan guarantees and credit enhancement to leverage other public or private financing. Beginning in FY04 through FY2020 the City has received and appropriated these grant funds for the various activities noted above.
Next Steps:
Appropriate the balance of $50,000 in Community Legacy Grant Funds for FY21.
Fiscal Impact:
Increase FY21 Special Revenue Budget in Fund 23 by $50,000.
City Administrator Comments:
Recommend Approval.
Community Engagement:
N/A
Strategic Goals:
Goal 3 - Promote a Safe and Vibrant ...
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