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PROPOSED CONTRACT
Department(s): Bureau of Economic Development
Vendor: AidKit Inc., Denver, Colorado
Request: Authorization for the Chief Procurement Officer to enter into and execute
Good(s) or Service(s): Program Administrator- Homeowner Relief Fund
Contract Value: $15,000,000.00
Contract period: 4/14/2025 - 12/31/2025
Contract Utilization: The contract specific goal set on this contract was zero.
Potential Fiscal Year Budget Impact: FY 2025 $15,000,000.00
Accounts: 11293.1027.10155.580170
Contract Number(s): 2525-03111
Summary: The Bureau of Economic Development requests authorization for the Chief Procurement Officer to enter into and execute a contract with AidKit, Inc., as a Program Administrator for the Cook County Homeowner Relief Fund.
In October 2024, the Cook County Board of Commissioners passed Resolution 24-5414, creating a Homeowner Relief Fund and associated Special Purpose Fund to provide property tax relief to the most vulnerable homeowners. Cook County has allocated fifteen (15) million dollars to launch and operate a program of one-time, unrestricted cash payments to qualified Cook County homeowners who are experiencing financial hardship as a result of significant property tax increases.
The Cook County Bureau of Economic Development will use the funds to establish and administer the Cook County Homeowner Relief Fund. The funds will be available to Cook County residents who have been impacted by a substantial property tax increase and meet eligibility criteria. Eligible Cook County homeowners can apply for a $1,000 property tax relief payment. Of the total contract value, $13,600,000 is expected to be used for homeowner relief payments and $1,400,000 for the costs of administering the program.
The Bureau of Economic Development does not currently have the expertise or capacity to administer a cash assistance program and has identified AidKit Inc., to serve as the Program Administrator for this progr...
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