Res. No. 1419 Title RESOLUTION APPROVING THE FISCAL YEAR 2001 COMMUNITY DEVELOPMENT PROGRAM, REALLOCATION OF TWENTY-SIXTH YEAR COMMUNITY DEVELOPMENT FUNDS, AND THE PROPOSED TWENTY-SEVENTH YEAR COMMUNITY DEVELOPMENT PROGRAM. Body By Council Member Berman: Whereas, The Office of Management and Budget has prepared a Proposed City Fiscal Year 2001 Community Development Program, a Proposed Reallocation of Twenty-Sixth Year Community Development Funds, and a Proposed Twenty-Seventh Year Community Development Program; and Whereas, The Proposed City Fiscal Year 2001 Community Development Program, Proposed Reallocation of Twenty-Sixth Year Community Development Funds, and Proposed Twenty-Seventh Year Community Development Program are provided to the City Council for review and consideration; and Whereas, The Council held hearings on these proposals; and Whereas, As a result of the hearings the Council submitted proposals for modification of the CD Program; now, therefore, be it Resolved, That the Council of the City of New York hereby approves, as modified the proposed Community Development Budget and Program for Fiscal Year 2001 as submitted by the Mayor on April 18, 2000, in accordance with the schedule of changes contained in the attached committee report; and be it further Resolved, That the Council of the City of New York hereby approves the proposed reallocation of Twenty-Sixth Year Community Development Funds as submitted by the Mayor on April 18, 2000, in accordance with the schedule of changes contained in the attached committee report; and be it further Resolved, That the Council of the City of New York hereby will have the opportunity to review the allocation as part of the Fiscal Year 2001 budget adoption, of that portion of the Twenty-Seventh Year Community Development Budget (one-half of the anticipated entitlement grant amount, as well as the remainder of all other sources) that will be scheduled to be spent in Fiscal Year 2002 and not Fiscal Year 2001.