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PROPOSED RESOLUTION
PROPOSAL FOR CORPORATE FUNDING - SINGLE FAMILY HOME DEVELOPMENT (MODULAR HOUSING)
WHEREAS, on June 15, 2024, the Cook County Board of Commissioners through Resolution 24-2735 of the Cook County Board) approved the creation of the ARPA NT 093 Mortgage Assistance - Single Family Home Development (Modular Housing) program as a demonstration program to create single family homes utilizing the Modular form of construction; and
WHEREAS, American Rescue Plan Act of 2021 (ARPA) funds allocated to Cook County were authorized to fund the initial projects under the Single-Family Home Development Program; and
WHEREAS, Resolution 24-2735 granted the Bureau of Economic Development authority to utilize ARPA funds for the demonstration of single-family homes utilizing modular technologies and the Director of Planning and Development under the Bureau of Economic Development was authorized to select and structure developments and enter into development, partnership and loan agreements required for the development of single-family homes; and
WHEREAS, the Department of Planning and Development under the Bureau of Economic Development has initiated the Program and begun to yield single family homes demonstrating the modular technology; and
WHEREAS, the Bureau of Economic Development has worked cooperatively with the Cook County Land Bank Authority and respective municipalities to identify vacant parcels for redevelopment; and
WHEREAS, the Cook County Board of Commissioners authorized $3,000,000 in Corporate funding for the expansion of the Single-Family Home Development Program through Fiscal Year 2025 Amendment to the Tentative Appropriation Ordinance Amendment #12; and
WHEREAS, the Cook County Land Bank Authority issued a Request for Qualifications (RFQ) on August 8, 2023, under which Inherent L3C responded and upon review was designated as a qualified respondent for both development and construction of single-family homes utilizing modular const...
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