ACTION REQUESTED:
Title
Communication from the City Manager and the Community Development Director with a Request to REALLOCATE Existing Community Investment Plan (CIP) Project Funds, in the Amount of $22,071.57, for the Creation of a CITY-WIDE PAINT PROGRAM. (City-Wide)
Body
BACKGROUND: On August 26, 2014, City Council approved the creation of a Paint Program that was restricted to Council District 1. While it was recognized at the time that there is a need for such a program throughout Peoria, a funding source was not identified. Staff has reviewed the 2015 Community Investment Plan (CIP) budget and identified three existing projects that are inactive, but have remaining funds available. This request is to reallocate the remaining funds from the inactive projects for the creation of a new City Wide Paint Program.
Applications from homeowners located in Council District 1 will be assisted from the dedicated program approved in 2014 until such time those funds are expended. As of January 2015, $24,863 remain from the initial $25,000 approved for Council District 1 Paint Program. Staff anticipates increased participation in the spring.
The funds for the Citywide Paint Program would come from the following inactive projects:
1. PB1101 (Alley Lighting) $5,668.73
2. PB1201 (Alley Lighting) $12,500.00
3. PB1213 (Paint Program) $3,902.84
A total of $22,071.57 would be available in the new City Wide Paint Program.
The guidelines for the program are attached to this request for Council action.
There are two differences from Council District 1 Paint Program:
1. Program is available City Wide regardless of a homeowner's location in a Council District.
2. There is an income cap equal to 80% of area median income (AMI). Currently, Council District 1 Paint Program does not have income restrictions for homeowners. Using the 80% AMI cap, the maximum income for a family of four would be an annual adjusted gross income of $50,950. This cap w...
Click here for full text