Approval of CRF (Coronavirus Relief Funds) Interlocal Subrecipient Agreement with St. Lucie County BOCC in the amount of $178,000.
SUBJECT:
Approval of CRF (Coronavirus Relief Funds) Interlocal Subrecipient Agreement with St. Lucie County BOCC in the amount of $178,000
SUMMARY:
Upon entering into FHFC Contract on 9/8/2020 (Original City Commission approval date) and 10/5/2020 (Contract Amendment approval date), the City agreed to receive and spend a total of $283,318 on Coronavirus Relief efforts. After expenditures outlined in the Coronavirus Relief Grant Program, remaining funds in the amount of $178,000 that must be expended by December 31, 2020 as per the FHFC contractual guidelines.
Advisement from Florida Housing Finance Corporation encourages subrecipient/interlocal agreements with community partners in order to expedite funding and to reduce probability of Duplication of Efforts.
RECOMMENDATION:
Enter into interlocal agreement in order to meet contractual guidelines.
ALTERNATIVES:
Do not enter into agreement and risk contract default; thereby having to return funds not used by December 31, 2020.