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SURA approves $2.5 million transfer to Housing Strategies Corporation for Black Challenge Grant program
Summary
The Syracuse Urban Renewal Agency approved transferring $2.5 million to the Housing Strategies Corporation so that the corporation may implement its Black Challenge Grant Program; the board noted the funds were previously approved in city budget allocations and that the board had earlier approved an agency agreement.
The Syracuse Urban Renewal Agency voted to transfer $2,500,000 to the Housing Strategies Corporation to implement the corporation's Black Challenge Grant Program.
Meg (staff) told the board the transfer is a housekeeping action to match a previously approved agency agreement. Meg said the board had approved an agency agreement at its prior meeting to allow the Housing Strategies Corporation to administer the program, but the funds had not yet been transferred; the current resolution authorizes SURA to accept and transfer the funds so the program can proceed.
Spanski clarified that the $2.5 million represents the city's portion of a larger $7.5 million total previously discussed; Spanski characterized this as the city's initial investment drawn from an earlier budget allocation. The board approved the motion without discussion and carried the item by unanimous voice vote.
The agenda and discussion characterized this action as consistent with prior budget approvals; specific program eligibility, timeline for grant awards, and detailed disbursement schedules were not provided during the SURA meeting. Implementation will proceed under the Housing Strategies Corporation as the administering entity per the agency agreement the board had already approved.
