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Henderson reallocates CDBG funds to meet federal compliance, backs Neighborhood Action Project
Summary
The commission approved using $24,706.40 in CDBG funds to fund a Neighborhood Action Project and bring the city within the federal 1.5-times balance requirement; staff said the city's balance is now at 1.49 and the allocation will remove probationary status.
City staff told the commission the Community Development Block Grant (CDBG) account had been above the federal 1.5-times desired balance in recent years and placed the city on probation. Finance staff reported the balance is now about 1.49 and recommended drawing down funds for eligible nonprofit projects to reach compliance.
Commissioners agreed to reassign $24,706.40 of CDBG funds to a Neighborhood Action Project (a previously approved community-action microgrant program), allowing the city to avoid using general-fund dollars for that $25,000 commitment. "So right now that, we're on probation... So we're at 1.49," finance staff said, explaining the urgency to complete required reporting and spending.
The motion to use CDBG funds for the Neighborhood Action Project passed by roll call.
