ORD. 1987-097-084 · Ordinance

To authorize the City Manager, Robert C. Bobb, for and on behalf of the City of Richmond, to file an application with the United States Department of Housing and Urban Development to qualify to undertake sundry projects utilizing a grant of funds in the amount of $5,366,392 or such other amount as may be finally allocated and available to the City of Richmond under Title I of the Housing and Community Development Acts of 1974, 1979, and 1983, and to furnish all such information and supporting instruments as may be requisite for the processing by the Department of Housing and Urban Development of such application and to accept a grant in the amount of $4,074,392 or such other amount as may be allotted the City of Richmond for the purpose of housing and community development activities in the City of Richmond, the grant proceeds to be deposited in a special account, designated: "Title I -Housing and Community Development Acts of 1974, 1979, and 1983 -Fiscal Year 1987-88", together with $226,000 in unspent funds from prior grants and $1,066,000 in income received from various projects, the aggregate of such funds ($5,366,392) to be designated and allocated for use in the fiscal year 1987-88.