Finance is responsible for administration of federal Community Development Block Grant (CDBG) funds received from St. Louis County, Missouri through the U.S. Department of Housing and Urban Development (HUD). These funds are provided annually to support housing programs and community development projects in low-to-moderate income areas of University City.
Prior to the availability of the funds, Finance holds a public hearing to hear citizens comments on recommended uses for the funds. These comments are shared with City Council, which approves how the funds will be used. Once the funds are available for use, Finance tracks all expenses related to the approved community development projects and submits the expenses to St. Louis County for reimbursement.
A public hearing is usually held in the summer and funds become available after January 1 of the following year.