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 II) supporting payment to low and moderate-income renters in arrears on rent, in need of housing supports, and threatened with eviction, along with the administration of the rental assistance program.
Grant Amount: $2,561,988.87
Grant Period: 12/27/2020 - 9/30/2025
Fiscal Impact: $2,561,988.87
Accounts:
11284.1013.20197.520830.00000.00000 Professional Services $200,000.00
11284.1013.20197.580170.00000.00000 Grant Disbursements $2,361,988.87.
Concurrences:
The Budget Department has received all requisite documents and determined the fiscal impact on Cook County, if any
Summary: On January 28, 2021, the Cook County Board of Commissioners authorized the Bureau of Economic Development (“BED”) to develop a County program for the distribution of allocated funding from the United States Treasury to provide aid to eligible Cook County households in compliance within the terms of the Emergency Rental Assistance Program.
On March 11, 2021, the United States Treasury Department (the “Treasury”) under the American Rescue Plan Act of 2021 made available $21.55 Billion to States, U.S. territories, Indian tribes, and local governments for Emergency Rental Assistance II (“ERA II”) to assist households who are unable to pay rent and utilities due to the Covid-19 pandemic, of which $75,174,936.50, including the Base Allocation of $57, 610,056.70 and High Need Allocation of $17,564,879.80, has been allocated to and received by Cook County.
Cook County has significantly committed and awarded the substantial portion of funds received under ERA II through its Cook County Emergency Rental and Utility Assistance II Program by June 1, 2022, making Cook County eligible to receive reallocated funds from other Municipalities and States through the Treasury.
Thereafter, with a significant number of eligible Cook County households demonstrating additional and ongoing need for rental assistance, arising from the Pandemic and post-Pandemic recovery, Cook County made further application to Treasury for consideration of reallocation from time to time.
Subsequently, Cook County applied for the two Quarterly reallocation offerings of Treasury and was approved for reallocation of ERA II funds in both cases.
The second and subject ERA 2 Reallocation Quarter 2 award is for $2,561,988.87.
The Bureau of Economic Develop (BED) seeks the approval of the Cook County Board of Commissioners to authorize the Budget Director to accept the funds from Treasury, allocate and transfer the funds to BED and continue a special purpose fund to track the acceptance and spending under the ERA II program.
Further BED respectfully request the approval of the Cook county Board of Commissioners authorizing the BED to further implement the Cook County Emergency Rental and Utility Assistance II Program for the distribution of the allocated funding to further provide aid to eligible Cook County households in compliance with the term of the ERA II and in accordance with the grant, select organizations and government agencies as well as enter into any agreements as necessary with the selected organizations and government agencies to provide rental and utility assistance to eligible households residing in suburban areas of Cook County.
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