03-20-2012 CC RPT 26 - Laserfiche WebLink

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CITY OF F-IVEI -SIDE Civ °f arts Unnovatlon City Council Memorandum TO: HONORABLE MAYOR AND CITY COUNCIL DATE: March 20, 2012 FROM: DEVELOPMENT DEPARTMENT ITEM NO: 26 WARD: 5 SUBJECT: SEIZING OUR DESTINY — PROPOSED AMENDMENT TO THE CITY OF RIVERSIDE 2011 -12 HUD ANNUAL ACTION PLAN TO REPROGRAM COMMUNITY DEVELOPMENT BLOCK GRANT (CDBG) FUNDING FOR THE ARLINGTON PARK IMPROVEMENT PROJECT — FUNDS TRANSFER ISSUE: The issue for City Council consideration is whether to approve an amendment to the City's U.S. Department of Housing and Urban Development (HUD) 2011 -12 Annual Action Plan to reprogram CDBG funds in the amount of $209,692 from the Ward 5 Street Improvements Project to the Arlington Park Improvement Project. RECOMMENDATIONS That the City Council: 1. Authorize an amendment to the 2011 -12 HUD Annual Action Plan to reprogram $209,692 in CDBG funds to the Arlington Park Improvement Project; 2. Authorize a funds transfer of CDBG funds in the amount of $209,692 from the Ward 5 Street Improvements Project earmarked in the Unprogrammed Fund, Account No. 2835100 - 453001 to the Arlington Park Improvement Project, Account No. 9247600- 440120; 3. Authorize the City Attorney's Office to prepare the CDBG Memorandum of Understanding (MOU) with the Parks, Recreation and Community Services Department for the reprogrammed amount and authorize the City Manager, or his designee, to execute the MOU, including making minor, non - substantive changes, and to sign all documents and instruments necessary to implement this action; and 4. Authorize appropriation to General Fund (101) project accounts to be established by the Finance Director and to be offset by an equal appropriation to object 895220 charging the project expenditures to the CDBG Fund (220). 26 -1