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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 II Program (ERA II) supporting payments to low- and moderate-income renters in arear on rent, in need of housing supports and the administration of program.
Grant Amount: $4,915,884.38 ERA II 3rd Quarter Reallocation
Grant Period: 3/11/2021- 10/31/2025
Fiscal Impact: $4,915,884.38
Accounts:
11284.1013.20197.520830 Professional Services $344,111.91
11284.1013.20197.580170 Grant Disbursements $4,571,772.47.
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 the allocated funding to provide aid to eligible Cook County households in compliance with 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 has been allocated to and received by Cook County.
Accordingly, 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 and is eligible to reallocated funds of other States and municipalities made available, quarterly, by Treasury.
Cook County applied for Treasury's Third Quarter FY 2022 Reallocation considerati...
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