Dept/ Agency: Administration/Office of Management and Budget Action: ( ) Ratifying (X) Authorizing (X) Amending Type of Service: Transfer of CDBG Funds Purpose: Amending CDBG Coronavirus Aid, Relief and Economic Security (CARES) Act, CDBG-CV Allocation Funding Source: United States Department of Housing and Urban Development Amount Transferred $500,000.00 Transferred From: Microenterprise Assistance Transferred To: Tenant Based Rental Assistance Additional Information: Amending Resolution 7R1-k, adopted on August 19, 2020, authorized the City of Newark to accept funds for the Coronavirus Aid, Relief and Economic Security Act (CARES) in the amount of $4,310,416.00. This amendment will decrease the amount for the CDBG-CV Allocation Microenterprise Assistance from $1,800,000.00 to $1,300,000.00 and increase the amount for the CCBG-CV Allocation Tenant Based Rental Assistance from $1,300,000.00 to $1,800,000.00. Two-Thirds vote of full membership required.