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PROPOSED RESOLUTION
PROPOSED RESOLUTION TO AUTHORIZE THE USE OF THE MORTGAGE FORECLOSURE MEDIATION SPECIAL PURPOSE FUND TO SUPPORT THE MORTGAGE FORECLOSURE MEDIATION PROGRAM
WHEREAS, Resolution 22-2807 authorized the Bureau of Economic Development (BED) to enter into a Subrecipient Agreement with the Illinois Housing Development Authority (IHDA) to implement the Cook County Legal Aid for Housing and Debt Program (CCLAHD); and
WHEREAS, the Subrecipient Agreement is set to expire November, 30, 2024; however, the parties seek to extend the Subrecipient Agreement through November 30, 2026; and
WHEREAS, the Office of the Chief Judge (OCJ) is a CCLAHD partner and works with BED and IHDA on the Mortgage Foreclosure Mediation Program (MFMP) component of CCLAHD, which provides assistance to those at risk of foreclosure, including helpline services and housing counseling; and
WHEREAS, OCJ administers the Mortgage Foreclosure Mediation Special Purpose Fund, which collects the fee imposed on all new foreclosure filings, and these fees can be used to support a foreclosure mediation program; and
WHEREAS, OCJ desires to become a party to BED’s agreement with IHDA to foster collaboration between OCJ, BED, and IHDA, and to allow for the use of the Mortgage Foreclosure Mediation Special Purpose Fund as a funding source for the MFMP through November 30, 2026.
NOW, THEREFORE, BE IT RESOLVED, that the Cook County Board of Commissioners hereby authorizes BED to amend the Intergovernmental Subrecipient Agreement regarding the Cook County Legal Aid for Housing and Debt Program (“CCLAHD”) to add the OCJ as a party, to extend the Agreement through November 30, 2026 and add the Mortgage Foreclosure Mediation Special Purpose Fund (11285.1310.16195.520830) as a funding source effective July 1, 2024, in the amount of up to $2,260,041 to support the Mortgage Foreclosure Mediation Program.
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