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File #: 19-1196    Version: 1
Type: Bill Status: Passed
File created: 10/28/2019 In control: Finance & Governance Committee
On agenda: 11/25/2019 Final action: 11/25/2019
Title: A bill for an ordinance establishing a new Fund in the Economic Opportunity Special Revenue Fund for the "Community Development Block Grant" program and transferring the existing grant from the Community Development Special Revenue Fund Series. Establishes a new Community Development Block Grant Fund in the Economic Opportunity Special Revenue Fund Series to be administered by Denver Economic Development and Opportunity to properly differentiate the funds from housing services and economic development services. The Committee approved filing this item at its meeting on 11-5-19.
Indexes: Jonathan Griffin
Attachments: 1. BR19 1196 DOF LB_Companion_New_CDBGFund, 2. BR19 1196 DOF LB_Companion_New_CDBGFund Supporting, 3. CB19-1196 DOF_CDBG_Grant_Fund, 4. 19-1196 Filed Bill_DOF_CDBG_Grant_Fund, 5. 19-1196 - signed, 6. 19-1196 Filed A bill for an ordinance establishing a new Fund in the Economic Opportunity Special Revenue Fund for the “Community Development Block Grant” program and trans

Finance Item/Grant Request Template

 

Date Submitted: 10-28-19

 

Requesting Agency: Finance

                               Division:

 

Subject Matter Expert Name:

Name:   Rachel Bardin and Stephanie Adams                                    

Email:   Rachel.Bardin@denvergov.org; Stephanie.Adams@denvergov.org                                                        

 

Item Title & Description:

(Do not delete the following instructions)

These appear on the Council meeting agenda. Initially, the requesting agency will enter a 2-3 sentence description. Upon bill filling, the City Attorney’s Office should enter the title above the description (the title should be in bold font).

 

Both the title and description must be entered between the red “title” and “body” below.  Do not at any time delete the red “title” or “body” markers from this template.

title

A bill for an ordinance establishing a new Fund in the Economic Opportunity Special Revenue Fund for the “Community Development Block Grant” program and transferring the existing grant from the Community Development Special Revenue Fund Series.

Establishes a new Community Development Block Grant Fund in the Economic Opportunity Special Revenue Fund Series to be administered by Denver Economic Development and Opportunity to properly differentiate the funds from housing services and economic development services. The Committee approved filing this item at its meeting on 11-5-19.

body

 

Affected Council District(s) or citywide? Citywide

 

Executive Summary with Rationale and Impact:

Detailed description of the item and why we are doing it. This can be a separate attachment.

As a part of the creation of the Department of Housing Stability (HOST) in the 2020 budget process, grant dollars for the Community Development Block Grant (CDBG) will continue to be administered by Denver Economic Development and Opportunity (DEDO). To properly differentiate the funds from housing services and economic development services, a new grant fund is being established in the Economic Opportunity Special Revenue Fund Series, which is for economic development-focused services. A portion of CDBG dollars will still be available for housing programs under the allowable uses of the grant.

 

The new fund Number will be 17016 and the cost center will be 0117110.

 

The existing Community Development Block Grant the Community Development Special Revenue Fund Series, fund No. 16002, will

be closed once the above transactions are complete.

Type (choose one: Grant; Supplemental; Fund Creation; Fund Rescission; Fund Transfer; Appropriation; Other):

 

Amount:

 

Budget Year:

 

Fund and Funding Source (Fund/Org/Grant Number, if applicable):

 

Grantor (if applicable):

 

Fund Matching Requirements (if applicable):

 

Fiscal Impact: