Common use of Fiscal Impacts Clause in Contracts

Fiscal Impacts. There is no impact to the City budget because CDBG funding for the Public Facilities and Improvements is included in the City of Urbana and Urbana HOME Consortium FY 2010-2011 Annual Action Plan. The City’s major investments in the CDBG Program for FY 2010-2011 are identified in the Annual Action Plan. Forwarding the agreements to City Council within a reasonable period of time will allow for the timely expenditure of CDBG funds as required by HUD. Staff recommends that the Community Development Commission forward the Ordinance approving the agreements to the Urbana City Council with a recommendation for approval.

Fiscal Impacts. There is no impact to the City budget because CDBG funding for the Public Facilities and Improvements is included in the City of Urbana and Urbana HOME Consortium FY 20102009-2011 2010 Annual Action Plan. The City’s major investments in the CDBG Program for FY 20102009-2011 2010 are identified in the Annual Action Plan. Forwarding the agreements to City Council within a reasonable period of time will allow for the timely expenditure of CDBG funds as required by HUD. Staff recommends that the Community Development Commission forward the Ordinance approving the agreements proposed amendment to the agreement to the Urbana City Council with a recommendation for approval.

Fiscal Impacts. There is no impact to the City budget because CDBG funding for the Public Facilities and Improvements is included in the City of Urbana and Urbana HOME Consortium FY 2010FY2008-2011 2009 Annual Action Plan. The City’s major investments in the CDBG Program for FY 2010FY2008-2011 2009 are identified in the Annual Action Plan. Forwarding the Failure to forward agreements to City Council within a reasonable period of time will allow for can delay projects and impact the timely expenditure of CDBG funds as required by HUDfunds. Staff recommends that the Community Development Commission forward the Ordinance Ordinances approving the agreements Agreements to the Urbana City Council with a recommendation for approval.