4/28/05 – Executive Summary Update
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City of Troy, New York
5-Year CP Strategic Plan 2005-2009
Executive Summary (UPDATED)
This Consolidated Plan covers fiscal years 2005 through 2009. It is prepared in compliance
with requirements of the U.S. Department of Housing and Urban Development (HUD) as a
plan and an application for funding under four formula grant programs: Community
Development Block Grant (CDBG), HOME Investment Partnerships including the American
Dream Downpayment Initiative (ADDI), and Emergency Shelter Grant (ESG). This document
presents a strategic plan to address the three goals established by federal statute for these
programs: providing expanded economic opportunities, providing a suitable living environment,
and providing decent housing. These programs are primarily aimed to benefit persons and
families of low to moderate income, i.e., median annual family income from $ 35,550
(household of one) to $ 67,050 (household of eight) as of February 2005.
At present, the City of Troy is an “entitlement” city and, therefore, is entitled to receive CDBG
funding every year based on a formula. President Bush recently proposed major changes to
the CDBG program to become effective in fiscal year 2006, if adopted by Congress. The
President’s proposal includes a 30% reduction in the CDBG program, moving the $4.7 billion
program from HUD to the Department of Commerce and reducing it to $3.7 billion, targeting
economic development rather than poverty, and eliminating the entitlement status of
communities like Troy. Until such time that the Congress approves the proposed changes to
the CP program, the city has an obligation to prepare a 5-Year Strategic Plan as a framework
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for improvement of the City of Troy and the conditions affecting its low-moderate income
residents.
Information gathering to inform the preparation of this Plan began with a series of
neighborhood meeting held by Mayor Tutunjian. To further explore the issues raised by t