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Authority reallocates $87,509.87 in beautification funds to home improvement loan program
Summary
Facing an unfilled public-arts coordinator position and a likely funding carryover, the authority approved reallocating $87,509.87 in Community Development Block Grant beautification/art funds to the home improvement loan program administered by NeighborWorks Green Bay.
The Redevelopment Authority approved transferring $87,509.87 from the community block grant line for beautification/art projects to the city’s home improvement loan program administered by NeighborWorks Green Bay.
Bill, a staff presenter, explained the city typically programs beautification dollars for public-art projects but has not filled the public-arts coordinator position this program year and staff is concerned about exceeding the carryover limit for Community Development Block Grant funds. He said NeighborWorks Green Bay administers the home improvement loan program and currently has a queue of loans and available demand; staff recommended reallocating the funds to avoid an excessive carryover and to ensure the dollars are spent in the program year.
A councilmember moved the transfer; the motion passed by voice vote. Staff said NeighborWorks has loan applications in its queue and is positioned to use the transferred funds in a timely manner so as to meet federal timeliness requirements for block grant spending. The authority instructed staff to finalize the reallocation and work with NeighborWorks on disbursement and reporting.
