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File #: 20-3229    Version: Name: ECONOMIC DEVELOPMENT INITIATIVES TO IMPLEMENT THE COOK COUNTY COVID-19 RESPONSE PLAN: FROM RAPID RESPONSE TO EQUITABLE RECOVERY
Type: Resolution Status: Approved
File created: 7/9/2020 In control: Finance Committee
On agenda: 7/16/2020 Final action: 7/30/2020
Title: PROPOSED SUBSTTTUE TO FILE 20-3229 PROPOSED RESOLUTION ECONOMIC DEVELOPMENT INITIATIVES TO IMPLEMENT THE COOK COUNTY COVID-19 RESPONSE PLAN: FROM RAPID RESPONSE TO EQUITABLE RECOVERY WHEREAS, on March 13, 2020, the President of the United States issued a Proclamation, declaring a National Public Health Emergency as a result of the COVID-19 outbreak; and WHEREAS, on March 27, 2020, the President of the United States signed into law the Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act"); and WHEREAS, the CARES Act established the Coronavirus Relief Fund ("CRF"), which provides aid to eligible local governments to address necessary expenditures due to the COVID-19 Public Health Emergency; and WHEREAS, on April 7, 2020, President Preckwinkle issued Executive Order 2020-9 which authorized the Cook County Bureau of Economic Development (BED) to develop, establish and administer a loan and technical assistance program for small businesses located in suburban Cook Count...
Sponsors: TONI PRECKWINKLE (President), JOHN P. DALEY, LARRY SUFFREDIN, DEBORAH SIMS, SCOTT R. BRITTON, BRANDON JOHNSON, DONNA MILLER, FRANK J. AGUILAR, ALMA E. ANAYA, LUIS ARROYO JR, DENNIS DEER, BRIDGET DEGNEN, BRIDGET GAINER, BILL LOWRY, STANLEY MOORE, KEVIN B. MORRISON, SEAN M. MORRISON, PETER N. SILVESTRI
Attachments: 1. Form E Resolution - Economic Development Initiatives to Implement the Covid-19 Response Plan (7-13-20)
title
PROPOSED SUBSTTTUE TO FILE 20-3229

PROPOSED RESOLUTION

ECONOMIC DEVELOPMENT INITIATIVES TO IMPLEMENT THE COOK COUNTY COVID-19 RESPONSE PLAN: FROM RAPID RESPONSE TO EQUITABLE RECOVERY

WHEREAS, on March 13, 2020, the President of the United States issued a Proclamation, declaring a National Public Health Emergency as a result of the COVID-19 outbreak; and

WHEREAS, on March 27, 2020, the President of the United States signed into law the Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act"); and

WHEREAS, the CARES Act established the Coronavirus Relief Fund ("CRF"), which provides aid to eligible local governments to address necessary expenditures due to the COVID-19 Public Health Emergency; and

WHEREAS, on April 7, 2020, President Preckwinkle issued Executive Order 2020-9 which authorized the Cook County Bureau of Economic Development (BED) to develop, establish and administer a loan and technical assistance program for small businesses located in suburban Cook County in the amount of $10 M; and

WHEREAS, Cook County qualified as an eligible local government and received $429 M in CRF funding from the U.S Department of Treasury; and

WHEREAS, Cook County has received $429 million of CRF and Cook County has allocated approximately $ 133 Million of the County's CRF allocation to address the impact of COVID on communities with $51 M available to municipalities and $82 M distributed via the BED to direct service providers to address economic and community development needs; and

WHEREAS, as a result of COVID-19, Cook County businesses and residents have been severely impacted and recovery initiatives are needed to assist Cook County businesses and residents as result of losses suffered and unforeseen expenses incurred; and

WHEREAS, on May 14, 2020 to ensure a comprehensive and coordinated response to the COVID-19 pandemic, President Preckwinkle released the Cook County COVID-19 Response Plan: From Rapid Response to Equitable Recovery. ...

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