Title
Commission action adopting a formal policy for allocating community development and housing grant funds.
Staff Summary
• The grant funding administered by Lake County Community Development requires prudent administration and timely spending to meet federal compliance requirements. This proposed Grant Funding Allocation Policy streamlines the way funds are both allocated from new funding sources (e.g. program income) and reallocated from slow-spending grants & troubled/canceled projects on a timely and consistent basis.
• This policy sets the expectation that HCDC be asked to make (re)allocation decisions only three times per year, including the annual application funding round. With the advent of this policy, allocations will continue to occur primarily in the annual application funding process and reallocations will be clustered into replacement projects/programs already approved by Lake County Board (LCB) in order to meet federal spending timeliness requirements.
• Under the current Citizen Participation Plan, this process will take place as efficiently, predictably and transparently as possible.