title
PROPOSED GRANT AWARD
Department: Department of Planning and Development
Grantee: Cook County Department of Planning and Development
Grantor: United States Department of Housing and Urban Development (HUD)
Request: Authorization to accept grant
Purpose: To support funding to communities for long-term disaster recovery needs
Grant Amount: $859,388.00
Grant Period: 7/2/2014 - 9/30/2025
Fiscal Impact: $859,388.00
Accounts: 11900.1013.53636.580170 CDBG_DR Program Income - $859,388.00
Concurrences:
The Budget Department has received all requisite documents and determined the fiscal impact on Cook County, if any.
Summary: The U.S. Department of Housing and Urban Development (HUD) provides flexible grants to help cities, counties, and States recover from Presidentially declared disasters, especially in low-income areas, subject to availability of supplemental appropriations. In response to Presidentially declared disasters, Congress appropriated additional funding for the Community Development Block Grant (CDBG) program as Disaster Recovery grants to rebuild the affected areas and provide crucial seed money to start the recovery process.
CDBG_DR Program Income is derived from principal and interest, if any, payments on CDBG_DR funded forgivable loans under the Bureau. All proceeds derived from CDBR_DR loans are required to be reallocated to CDBG eligible projects.
Program Income has been accumulated, per HUD, since the beginning of the 2016 CDBG_DR Program Year. Upon reconciliation of the CDBG_DR Program Income, the subject funds are available for budget consideration.
The Department of Planning and Development respectfully seeks the authority to reallocate the Program Income accumulated since Program Year 2016 for the current Program Year to various CDBG_DR projects
Also, that the Bureau Chief of Economic Development or designee be authorized to execute, on behalf of the County of Cook any and all documents necessary to ...
Click here for full text