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PROPOSED GRANT AWARD
Department: Department of Planning and Development
Grantee: Cook County Bureau of Economic Development
Grantor: U.S. Department of Housing and Urban Development (HUD)
Request: Authorization to accept grant
Purpose: To support various community development, homeless and social services, affordable housing, and economic development activities in suburban Cook County.
Grant Amount:
Community Development Block Grant (CDBG): $9,796,130.00
Emergency Solutions Grants (ESG): $814,055.00
HOME Investment Partnerships: $4,590,860.00
Grant Period:
CDBG: 10/1/2016 - 9/30/2017
ESG: 10/1/2016 - 9/30/2018
HOME: 10/1/2016 - 9/30/2021
Fiscal Impact: None
Accounts: N/A
Concurrences:
The Budget Department has received all requisite documents and determined the fiscal impact on Cook County, if any.
Summary: Transmitted herewith are the proposed funding sources and uses for the 2016 Program Year for the Community Development Block Grant (CDBG); Emergency Solutions Grant (ESG); and HOME Investment Partnerships (HOME) programs.
These funds are provided to Cook County via an annual formula grant through the U.S. Department of Housing and Urban Development (HUD) and are restricted for use within suburban Cook County. The Planning and Development Subcommittee of the Economic Development Advisory Council (EDAC) and the full EDAC are expected to approve these recommendations at public hearings which will be held in July.
The 2016 Program Year funding allocations are as follows:
CDBG: $9,796,130
ESG: $814,055
HOME: $4,590,860
CDBG funding may be utilized to support various community development activities for the benefit of low- and moderate-income persons.
ESG funding may be utilized to support various shelter and service activities for the benefit of homeless persons or persons at-risk of homelessness.
HOME funding may be utilized to support affordable housing development activities for the benefit of low-income persons.
The proposed sources and uses of all program funds will be incorporated into the County’s Annual Action Plan, which will be made available for public comment prior to submittal to HUD by 8/15/2016.
I respectfully request approval of the recommended proposed funding sources and uses for the 2016 CDBG, ESG, and HOME funds; and that the Bureau Chief of Economic Development or his/her designee be authorized to execute, on behalf of the County of Cook any and all documents necessary to further the approval herein, including but not limited to, subrecipient agreements, intergovernmental agreements, amendments, and modifications thereto, loan documents, lien assignments, releases of mortgages and liens, and mortgage assumptions.
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