City to hold public meetings regarding 2017 CDBG Action Plan

Thursday, July 6, 2017

The City of Bessemer, office of Economic and Community Development, welcomes all Public Comments on the 2017 Consolidated Action Plan, which will be advertised for a period of not less than 14 days beginning on July 2nd, 2017.

The Plan, which is submitted to the U.S. Department of Housing and Urban Development annually, outlines priorities and spending to be addressed in the upcoming year under the Community Development Block Grant Program.

Community Development Objectives are three-fold. For one, Community Development seeks to encourage neighborhood stability through physical improvements and housing rehabilitation. The second goal is to improve economic development by encouraging business development and job creation. The final goal is to foster increased production and home ownership for low to moderate income families.

Three public meetings are scheduled to solicit comments from the public on the Action Plan. The public meetings schedule is as follows:

July 12th, 2017 at 6:00 o’clock PM – Bessemer City Hall.

July 13th, 2017 at 6:00 o’clock PM – Bessemer City Hall.

July 17st, 2017 at 6:00 o’clock PM – Bessemer City Hall.

The city of Bessemer will submit a “Final Statement of Community Development Objectives and Projected Use of Funds” to HUD on or before August 31st, 2017.

An outline of the proposed budget for FY2017 is as follows:

2017 CDBG ACTION PLAN BUDGET

 

 USES OF CDBG FUNDS

FROM FY2017:

 

 ADMINISTRATION                                 $103,055.88     

 

 DELIVERY COSTS                                $125,000.00

 

PARKS & REC.                                     $26,830.94

 

PUBLIC SERVICES

(Camp Bessemer)                                 $53,661.87

                                   

HISTORIC FAÇADE GRANT

(National Historic District)                    $156,730.39

 

PUBLIC FACILITIES

(Signage)                                             $50,000.00

 

     

TOTAL FY2017 CDBG GRANT $515,279.00                 

 

 

PROJECTED USE OF

FY2017 PROGRAM INCOME:

 

PROGRAM ADMINISTRATION (20% of Program Income)

 

Housing Revolving Fund:                     $27,533.20 (20% of Housing Program Income) 

 

Economic Development

Revolving Fund:                                   $27,533.20 (20% of Housing Program Income)

 

 

Economic Development Loan:             $100,000.00

 

Housing Loans                         $120,265.60

 

           

 

 

PROJECTED PROGRAM INCOME RECEIPTS

 

HOUSING PROGRAMS

 

Projected Housing Revolving Loan

Program Income:                                 $137,666.00     

 

 

ECONOMIC DEVELOPMENT LOAN PROGRAM

 

Projected Economic Development

RL Program Income:                            $137,666.00     

 

 

TOTAL PROJECTED

Program Income                                  $275,332.00     

 

 

                                   

 

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