HomeMy WebLinkAbout19022 - RESOLUTIONS - 4/30/1997 RESOLUTION NO. 19022
THE CITY COUNCIL OF THE CITY OF PALM
SPRINGS, CALIFORNIA, AUTHORIZING THE
RETURN OF $210,000 (PLUS ACCRUED
' INTEREST) TO THE OF CITY'S COMMUNITY
DEVELOPMENT BLOCK GRANT LINE-OF-
CREDIT WITH THE DEPARTMENT OF
HOUSING AND URBAN DEVELOPMENT;
AND REPROGRAMMING $25,000 OF THE
AFOREMENTIONED FUNDS TO THE
COACHELLA VALLEY SMALL BUSINESS
DEVELOPMENT CENTER.
WHEREAS, the City has approximately $210,000 (plus accrued interest) in accumulated loan
repayments from a prior Community Development Block Grant program, a Minor Home
Repair Loan Program; and
WHEREAS, the City is now interested in reprogramming some of the accumulated funds into
new Community Development Block Grant programs; and
WHEREAS, per the direction of the Department of Housing and Urban Development (HUD),
the funds must be returned to the City's line-of-credit with HUD in order to make the funds
available for reprogramming; and
WHEREAS, the City Council desires to reprogram a portion of the funds to a new program for
' the 1997-98 CDBG program year; and
WHEREAS, the Coachella Valley Small Business Development Center (CVSBDC) provides
free one-on-one consulting services to small businesses and entrepreneurial training to start-up
businesses; and
WHEREAS, the CVSBDC had applied for CDBG funds during the competitive application
process of the City's 1997-98 entitlement funding; and
WHEREAS, the CVSBDC did not make the funding round due to a lack of available 1997-98
entitlement CDBG funds; and
WHEREAS, the City Council finds merit with the CVSBDC and the economic impact it
provides the City of Patin Springs, and wishes to fund the CVSBDC with reprogrammed
CDBG funds.
NOW, THEREFORE, be it resolved that the City Council of the City of Palm Springs,
California, does hereby approve the following:
SECTION 1. Upon approval from the Department of Housing and Urban Development of
the City's 1997-98 Consolidated Plan Annual Plan Update, authorizes staff to
take the necessary steps with the Department of Housing and Urban
Development to return $210,000 (plus accrued interest) to the City of Palm
Springs' Community Development Block Grant line-of-credit, which will cause
an amendment to said 1997-98 Plan.
SECTION 2. As an additional amendment to the 1997-98 Plan, authorizes the
reprogramming of $25,000 from the line-of-credit to the Coachella Valley
Small Business Development Center to cover operational costs in return for the
assistance the CVSBDC will provide to the Palm Springs business community.
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Res. No. 19022
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SECTION 3. The balance of the available funds returned to the Department of Housing and
Urban Development will be categorized as "unprogrammed Rinds" until further
reprogramming takes place.
ADOPTED this 30th day of _p,pri 1 1997.
AYES: Members Barnes, Hodges, Uden and Spurgin '
NOES: Mayor Kleindienst.
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ABSENT: None �
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By:(1 1)1 _, —
�c�City Clerk \ ' ity Pdauager
REVIEWED AND APPROVED:_._
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