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PROPOSED RESOLUTION
THIRD INSTALLMENT SPENDING PLAN FOR BUDGETED FY2025 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, since the establishment of the Equity Fund, the administration 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; and
WHEREAS, as part of the FY24 Budget, the President's Office in partnership with the Chief Financial Officer and Budget Office, worked to designate the Casino Tax as a sustainable revenue source to support the ongoing work of the Equity Fund Taskforce and for those equity- specific ARPA initiatives that the County will maintain beyond 2026 when federal relief funds are expended; and
WHEREAS, $50M was appropriated in the First Installment Equity Fund Spending Plan and $70M was appropriated in the Second Installment Equity Fund Spending Plan; and
WHEREAS, as part of the FY25 Budget, the Equity Fund appropriation will be an additional $40M for its Third Installment Equity Fund Spending Plan bringing the total investments to $160M to date; and
WHEREAS, as part of the FY25 Budget, the Justice Advisory Council will receive an additional $35M for its annual grant allocati...
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