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2 <br />From the $50,000 CDBG Grant, approximately $4,000 was provided in matching funds, $10,000 <br />in administrative expense, and $20,000 in education expenses for a total grant expenditure of <br />$34,000. The remaining $16,000 will be de-obligated by the County and retained by the <br />Division of Community Assistance (DCA) for use in future program years. <br />In order to complete the grant closeout process, the N.C. Department of Commerce requires <br />that a public hearing be held prior to the official closeout of the IDA Program to assess the <br />performance of the County in administering the grant program. All comments received during <br />the hearing should be reviewed to determine the level of consistency with program goals. In <br />addition, the County is required to execute the Certificate of Completion form that is included <br />with this abstract. <br />FINANCIAL IMPACT: None <br />RECOMMENDATION(S): The Interim Manager recommends: <br />1) Receiving comments from the public regarding the execution of this grant and <br />subsequently closing the public hearing; and <br />2) Authorizing execution of the Certificate of Completion by the Chair on behalf of the Board <br />of Commissioners. <br />