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PROPOSED RESOLUTION
PROPOSAL FOR ARPA PERMANENT SUPPORTIVE HOUSING FUNDING - ARLINGTON HEIGHTS PSH
WHEREAS, the Cook County Board of Commissioners approved $1,000,000 of HOME Investment Partnership Program funding to Arlington Heights PSH, LLC via Item 22-1051; and
WHEREAS, the approved funding was for the development of Arlington Heights PSH ("the Project"), a 25-unit, affordable, permanent supportive housing located in Arlington Heights, IL. The Project sponsor, location, use of funds, and general Project design remain unchanged; and
WHEREAS, inflationary pressure on construction costs and modest improvements required for zoning and permit approval have increased total development costs by $3,727,703 to $15,379,887; and
WHEREAS, on March 11, 2021, the federal government authorized the American Rescue Plan Act of 2021 ("ARPA") which includes $1.9 trillion in federal stimulus funds to hasten the United States' recovery from the economic and health effects caused by the COVID-19 pandemic; and
WHEREAS, specifically, the federal government has authorized and allocated a federal award of approximately $1,000,372,385 of ARPA funding to Cook County to assist the County in its recovery from the economic and health effects of COVID-19; and
WHEREAS, on June 24, 2021, the Cook County American Rescue Plan Act Framework (the "ARPA Framework") was presented to the Cook County Board of Commissioners; and
WHEREAS, the Cook County Board of Commissioners via Resolution 21-3654 accepted the ARPA federal award allocated to Cook County to assist the County in its recovery from the economic and health effects of COVID-19 in the amount of approximately $1,000,372,385.00; and
WHEREAS, Resolution 21-3654 further authorized the Cook County Budget Director and Comptroller to create and implement a Special Purpose Fund for the ARPA award and other accounting measures to track the acceptance and spending of the federal award; and
WHEREAS, the Cook County Board of Commissioner...
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