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C� . ► D-Z <br /> The Agreement for Caminor and Kainos are for capital construction projects. The City's <br /> policy is not to approve funding agreements for capital projects until they are ready to <br /> proceed to construction. Caminor has successfully completed a prevailir.g wage bid <br /> process and will select th�ir contractor when the City's funding agreert;ent has been <br /> approved. The Kainos Hills�de Stabilization Project was unable to proceed until certain <br /> structural and soils engineering reports were completed. These reports identifies the <br /> means and method of stabilization and develop the contract objectives that will be met <br /> under this funding agreement. <br /> CDBG funds are targeted exclusively to low and moderate income residents to meet <br /> certain housing, supportive services and non-housing community development needs. <br /> Approximately 28 programs are funded through CDBG in the 2003-04 program year. <br /> Copies of the funding agreements referenced in this report are available for review in the <br /> Offce of the City Clerk. <br /> Fiscal Impact <br /> The total cost of these programs is $172,250.61 from CDBG funds. Council previously <br /> approved the funding allocations in April of 2003 as part of the City's Fourth Annual Action <br /> Plan budget. <br /> � � �w� <br /> Debb Jone omas Susan Moel er Ed Everett <br /> g Coordi Redevelopment City Manager <br /> Manager <br /> Attachment <br /> N/A <br />