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IURA reviews CDBG/HOME spend-down risks; three projects flagged for delay
Summary
IURA staff reported a HUD notice over slow CDBG spend-down and identified three projects slowing expenditures—the Cecil Malone sidewalk, INHS homeowner rehab program, and the agency's economic development loan fund—while proposing a midyear workout plan and potential reprogramming of funds.
Ithaca Urban Renewal Agency staff told the Governance Committee they received a HUD notice that the agency did not meet CDBG spend-down expectations and warned that continued under-spending could reduce future grants. The committee discussed a proposed workout plan and identified three projects that are responsible for the lag.
Nels summarized the HUD rule described to the committee: a jurisdiction cannot have more than 1.5 times its most recent grant outstanding in unexpended CDBG funds; failing to meet that standard can prompt a reduction in future grants. "If you have access to that money and you haven't spent it, then they're counting that against you," Nels said.
Staff identified three projects slowing CDBG expenditure: the Cecil Malone sidewalk project…
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