7-21-10 —     A $1 million Community Development Block Grant will provide funding for the construction of nine or ten new homes in the City of Monticello and the ity council took several steps Monday night that brings the scattered housing project closer to the time when ground will be broken.

    The council approved a number of documents for the project including the contract with Kriss Lowry and Associates, which will administer the project. The council approved several standard resolutions and a resolution that will allow the city to apply for gap funding from the Kentucky Housing Corporation that could provide money for another two to three projects.

    Homes that are included in this project were identified in the initial planning stage. They are located in several areas around the City of Monticello.

    The city will provide a $10,000 match to the CDBG funding. Officials said Monday that the first projects could begin by late September or early October. They expect the project to be substantially completed within about a year.

    In other action during Monday’s meeting, the council approved a temporary transfer of $140,410 from a Certificate of Deposit to the general fund. The money will come from principal paid from the sale of the Monticello Electric Plant Board. It will be transferred back to the CD, when city revenues increase.

    City Clerk-Treasurer Greg Latham noted that the “rainy day fund” that the city usually begins the fiscal year with has been used and the transfer is necessary to help meet insurance obligations that are due.

    Latham provided the council with a financial report regarding the fiscal year which just ended. He noted that revenues for last year were down about $35,000 from what was budgeted. Expenses were down about $14,000 from what was budgeted.

    In his report to the council, Monticello Mayor Kenneth Catron noted that the downtown streetscaping project is beginning to move along again. He said construction should be completed in front of the bank by the end of the week. Flag poles have been ordered, but Catron noted that the state highway department will have to approve the poles before they can be installed.

    Catron cautioned that construction crews will be cutting the roadway under the stop light and in the area of the Doughboy, and will work at night this week on these efforts. Motorists are asked to avoid this area and to be aware of the construction that is going on.