title
PROPOSED GRANT AWARD
Department: Department of Planning and Development
Grantee: Cook County Bureau of Economic Development
Grantor: United States Department of Treasury (Treasury)
Request: Authorization to accept grant
Purpose: Further support of the Emergency Rental Assistance I Program (ERA I) supporting payments to low- and moderate-income renters in arears on rent, in need of housing supports and the administration of program.
Grant Amount: $2,981,944.04 ERA I Final Reallocation
Grant Period: 12/27/2020 -12/29/2022
Fiscal Impact: $2,981,944.04
Accounts:
11284.1013.20196.520830.00000.000000 Professional Services $205,000.00
11284.1013.20196.580170.00000.000000 Grant Disbursements $2,776,944.04
Concurrences:
The Budget Department has received all requisite documents and determined the fiscal impact on Cook County, if any
Summary: On December 27, 2020, the United States Treasury Department (the "Treasury") under the Consolidated Appropriations Act, 2021 made available $25 Billion to States, U.S. territories, Indian tribes, and local governments for Emergency Rental Assistance I ("ERA I") to assist households who are unable to pay rent and utilities due to the Covid-19 pandemic, of which $72,808,624.10 has been allocated to Cook County.
Accordingly, by September 1, 2021, Cook County had successfully awarded seventy-five percent of the ERA Grant funds to eligible households under the Treasury guidelines, making Cook County eligible to receive reallocated funds from other States and Municipalities through the Treasury.
Thereafter, Cook County has applied three times and been awarded a total of $12,578,642.99 in reallocations of ERA I Grant funds from Treasury sourced from the redistribution of ERA Grant funds from the National Pool.
Subsequently, Cook County applied for the final reallocation of ERA I Grant funds from Treasury of which the subject $2,981,944.04 was awarded to Cook County from the Final Redistribution ...
Click here for full text