Resolution20-1052
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.
Introduced Aug 26, 2020· Administration