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CITY INVESTMENT IN DOWNTOWN

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MUSA Citizen
MUSA Citizen


Joined: Nov 19 2015
Location: United States
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Points: 562
Post Options Post Options   Thanks (0) Thanks(0)   Quote Analytical Quote  Post ReplyReply Direct Link To This Post Posted: Jul 09 2017 at 5:18am
2018 TAX BUDGET

Selected Estimated Unencumbered Fund Balances January 1, 2018

          The Downtown Fund                                                $ 15,000*
          Urban Development Action Grant (UDAG)              $114,000*
          Neighborhood Stabiliization Program (NSP)            $ 27,000*
          Home Investment Partnerships Program (HOME)   $ 21,000*

*  The above estimates have been rounded to the nearest thousand

NOTE:  UDAG funds are currently utilized for the Downtown Facade Grant Program by Downtown Middletown Inc.
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whistlersmom View Drop Down
MUSA Citizen
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Joined: Mar 11 2016
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Points: 720
Post Options Post Options   Thanks (0) Thanks(0)   Quote whistlersmom Quote  Post ReplyReply Direct Link To This Post Posted: Jul 09 2017 at 2:40pm

To continue to expose fund manipulation …….

The questionable source of funding and use of the UDAG (Urban Development Action Grant) Fund has shown up in the workbook for the last council meeting.

From the workbook for Council Meeting 7/5/17 presenting the 2018 Tax Budget

Page 11

under GOVERNMENTAL/SPECIAL REVENUE:

eighth line down

Urban Development Action Grant Fund #238

Estimated Unencumbered Fund Balance $114,997

Budget Year Estimated Receipt $50,000

Total Available For Expenditures $164,997

Budget Year Expenditures and Encumbrances Total $ 55,000

Estimated Unencumbered Balance 12/31/18 $109,997

The workbook shows a UDAG unencumbered fund balance of $114,997 but what is the source of those funds and when did they appear?

The fund is to receive an estimated $50,000 in 2018, but again, the source of funding is unknown. Could this be the $50,000 (from Middletown taxpayer funds) that DMI receives annually? How could the source possibly be a grant?

Expenditures and Encumbrances total $55,000. Wonder who will be the recipient of these “grant” funds!!!! And do they know that it’s really only a loan? And do they know that when they “repay” it the money will be “recycled” into the UDAG fund which is a grant fund (and by definition does not loan money)? Are you confused yet? Has anyone really repaid any money received from UDAG funds? ….. Any volunteers?

"The only thing necessary for the triumph of evil, is for good men to do nothing" Edmond Burke
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