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Planning officials: HUD continuum funding confirmed; Great Streets and Lock 3 event budgets increasing
Summary
Planning staff told the committee HUD’s Continuum of Care awards were confirmed at roughly $6.6 million and that final CDBG/HOME allocations will arrive after federal allocations are released; downtown event funding (Lock 3/summer concerts) is budgeted at $1.5 million for 2025 with a planned offset of $400,000 in revenue.
Planning staff updated the budget and finance committee on federal housing program timelines and local event funding plans.
Why it matters: Federal allocations for CDBG, HOME and ESG influence housing and homelessness programs. Separately, the city budget for downtown events determines what acts and scale the city can book for Lock 3 and other summer events.
Continuum of Care and HUD programs: Helen Tomic told the committee the City of Akron and participating Continuum of Care agencies received notification from HUD that their Continuum of Care application from 2024 would be…
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