Meeting Time: November 08, 2022 at 9:00am PST

Agenda Item

On July 10, 2018 the County of Butte entered into a grant agreement with the State Department of Housing and Community Development (HCD) for grant 17-CDBG-12012 for $1,500,000. Additionally on February 12, 2019 the County of Butte entered into a grant agreement with HCD for grant 18-HOME-12578 for $500,000. Activities for both of these grants include housing rehabilitation and grant administration. In order to prevent delays to housing rehabilitation and grant administration due to reimbursement from HCD, the Department requests that the Board of Supervisors authorize a cash advance of up to $1,500,000 from the General fund to the CDBG Program Grands Fund. The cash advance will allow rehabilitation to continue without interruption until reimbursement is received and the advance is repaid in full. The HCD could take between 60-120 days to reimburse the County for expenses. The cash advance impact to interest earnings in the General Fund will be minimal as the advance will be for a short period of time. The Board has approved similar cash advances for the CDBG Program Grants Fund over the last ten years.(County Administration)