The Columbus City Council approved an ordinance to authorize the Director of Finance and Management to initiate a transfer of $76,500.00 from the Department of Development’s Economic Development Division General Operating fund (Fund 1000) to the Department of Finance and Management’s local account for Community Development Block Grant (CDBG) funds (Fund 2248). This transfer is to correct ineligible expenditures related to a revolving economic development loan program that provided small business loans to four businesses (Java Brava, LLC, Your Just Desserts, LLC, HJ Systems, Inc, and L & E Society Group, LLC) using CDBG funds. These businesses failed to meet the job creation requirements for low- to moderate-income residents as mandated by HUD for cost eligibility. The funds will be made available for eligible CDBG activities, ensuring compliance with federal requirements and mitigating the risk of potential penalties from untimely action.