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PROPOSED RESOLUTION
SECOND INSTALLMENT SPENDING PLAN FOR BUDGETED FY2024 EQUITY AND INCLUSION SPECIAL PURPOSE FUND
WHEREAS, in November 2021, the Cook County Board of Commissioners passed Resolution No. 21-5542 creating a special purpose fund for Equity and Inclusion ("Equity Fund") dedicated to addressing historical disparities and disinvestment communities that are marginalized or have experienced other social and economic disparities; and
WHEREAS, through the Equity Fund, intentional investments from government resources are allocated to address historical and continued disparities and disinvestment, (as defined in the Equity Report) and to bring advocates, service providers, and other partners to the table as thought partners and decision-makers; and
WHEREAS, in May 2022, in conjunction with the release of the inaugural Equity Fund Report, Cook County brought forth and approved a resolution detailing the Equity Fund's first installment spending plan for the initial $50M which was allocated to the fund as part of the FY22 budget.
WHEREAS, at that time, Cook County ("County") also committed to identifying a sustainable source of funding for the ongoing work supported by the Equity Fund. In its commitment to transparency, the County also committed to providing monthly financial reporting to the Board of Commissioners, hold an annual Equity Fund hearing for updates to the Commissioners and public and publish an Equity Fund progress report at the end of each year; and
WHEREAS, since the approval of the first installment spending plan of $50M, the President's Office, department leads and the Equity Fund Taskforce have worked diligently to design and implement the twenty-five Equity Fund systemic recommendations and two initiatives including the Cannabis Business Development Program and the Cook County Landbank Homeownership Initiative. Highlights of that work, along with a detailed expenditure report will be provided in this year's Equity Fund progre...
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