Allocation of 2008 09 Community Development Block Grant Recovery (CDBG R) Funds and Adoption of a Resolution authorizing the Filing of the 2008 09 Application for Funding from the CDBG R Program. City of Culver City California City Council Agenda Item Report Meeting Date: 05/26/09 AGENDA ITEM: Allocation of 2008 09 Community Development Block Grant Recovery (CDBG R) Funds and Adoption of a Resolution authorizing the Filing of the 2008 09 Application for Funding from the CDBG R Program. Contact Person/Dept.: Kriss Casanova / CDBG Administrator CDD Fiscal Impact: Yes X No General Fund: Yes X No Phone Number: (310) 253 5769 Item Number: C 7 Action Item: Public Hearing: Public Notification: Master Notification List and CDBG Advisory Committee Members and Alternates on 5/20/08. Legal Notice was published in the Culver City News on 05/14/09 and 05/21/09 and posted at various City locations. Department Approval: Sol Blumenfeld (05/19/09) Chief Financial Officer Approval: Jeff Muir (M. Noller) (05/20/09) City Attorney Approval: Carol Schwab (by H. Baker) (05/19/09) City Manager Approval: Jerry B. Fulwood (05/20/09) Attachments: X RECOMMENDATION: Staff recommends the City Council approve the allocation of the Community Development Block Grant Recovery (CDBG R) funds for fiscal year ( FY ) 2008 09 and adopt the resolution authorizing the filing of the 2008 09 application for funding from the CDBG R program. BACKGROUND: On February 17 2009 President Barack Obama signed into law the American Recovery and Reinvestment Act (ARRA or the Recovery Act ). This $787 billion economic stimulus package includes $355 billion in funding for transportation infrastructure construction healthcare programs education housing assistance and energy efficiency projects $144 billion in State and Local Fiscal Relief and $288 billion in tax credits. ARRA funds will be issued through grants and loans for specific funding categories administered by existing granting agencies. Additional CDBG Funds Made...
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