HomeMy WebLinkAboutRES 15-132RESOLUTION NO. 15-132
WHEREAS, in May, 2013, the Department of Housing and Urban Development
(HUD) conducted its annual monitoring of the City of Beaumont's Community
Development Block Grant (CDBG) Program; and
WHEREAS, as a result of its annual monitoring, HUD determined a loan in the
amount of $22,500 did not meet a "National Objective" of being made to low -to -
moderate income individuals or to businesses in low -to -moderate areas or resulted in
the creation of jobs; and
WHEREAS, HUD has requested the remittance of $22,500 to a Program Line of
Credit to allow the funds to be returned to the City's CDBG Program for further
community development activities;
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
THAT the statements and findings set out in the preamble to this resolution are hereby,
in all things, approved and adopted; and,
THAT the City Manager be and he is hereby authorized to remit $22,500 to a
Community Development Block Grant Program Line of Credit.
PASSED BY THE CITY COUNCIL of the City of Beaumont this the 14th day of
July, 2015.
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