SECOND YEAR FUNDING
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REGION IV
Pershing Point Plaza
1371 Peachtree Street, N.E.
Atlanta. Georgia 30309
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
JACKSONVILLE AREA OFFICE
PENINSULAR PLAZA
661 RIVERSIDE AVENUE
JACKSONVILLE. FLORIDA 32204
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June 25, 1976
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IN REPLY REFER TO:
4.6 cs
JUL 1 1976
Mr. Picot B. Floyd
P. O. Box 4748
Clearwater, Florida 33518
CITY CLERK
Dear Mr. Floyd:
Subject: CDro Program - Seoond Year Funding
Grant No. B-76-MC-12-0002
Letter of Credit Increase: $466,000
Total Amount Approved All Grants: $675,000
This will aoknowledge reoeipt of the executed Grant Agreement (Form
HUD-7082, with attaohment) for the subject grant.
We have inoreased the Letter of Credit authorization by the full amount
of the seoond year grant. A oopy of the approved Letter of Credit (GFO
Form 7577) will be furnished to you in the near future.
Entitlement funds in a letter of oredit should be drawn down on a first-
in, first-out basis. You should show your first program year number in
Seotion III (Classifioation of the Amount of This Request) of Form GFO-
7578, Request for Payment on Letter of Credit, until all grant funds
. from the first program year have been drawn down. Once your Housing
Assistanoe Plan has been submitted and approved, and any other conditions
plaoed on speoifio aotivities have been satisfied, entitlement funds may
be spent on both first and seoond year aotivities.
After all funds from your first program year have been drawn down, the
seoond program year number must be shown in Seotion III. A8ain, funds
~y be spent on both first and seoond year activities. provided those
aotivities are free from all- oonditions.
The effeotive date of the Letter of Credit increase is the starting
date of the seoond program year.
If we oan be of assistance at any time, please do not hesitate to call
our Program Support Branch, at (904) 791-2814.
Sincerely,
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.?~/R. W. Buskirk~
'1::'~_Area Direotor
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/-, oc: Mr. Franklin Bush