Title
Joint resolution authorizing an emergency appropriation and execution of the necessary documents to administer the Neighborhood Stabilization Program - Round 3 (NSP3) from the US Department of Housing and Urban Development (HUD).
Staff Summary
• On February 8, the County Board authorized the submittal of a substantial amendment to the 2010 Annual Action Plan in order to receive funds under NSP3.
• HUD approved this substantial amendment and notified Lake County it has been awarded $1,370,042.
• This resolution authorizes: 1) acceptance of the NSP3 funds; 2) execution of the necessary subrecipient agreements; and 3) an emergency appropriation.
Body
WHEREAS, the US Department of Housing and Urban Development (HUD) has made available over $1 billion in Neighborhood Stabilization Program - Round 3 (NSP3) funds; and
WHEREAS, the Lake County Board previously approved the substantial amendment to the 2010 Annual Action Plan in order to receive these funds; and
WHEREAS, HUD has informed the County that the substantial amendment has been accepted and approved; and
WHEREAS, the County wishes to accept and use these funds per the guidelines in the substantial amendment.
NOW, THEREFORE, BE IT RESOLVED, by this County Board of Lake County, Illinois, that the Lake County Board Chairman or his designee is hereby authorized to execute the necessary documents to administer the NSP3 program per the substantial amendment, including subrecipient agreements; and
BE IT FURTHER RESOLVED, that an emergency appropriation is hereby authorized in the amount of $1,370,421 in revenue account 740-2970011-45040-000-000-000-29711 and the following corresponding expenses:
• $1,233,379 in 740-2970011-79950-000-000-000-29711
• $68,740 in 740-2800060-79920-000-000-000-00000
• $53,778 in 740-2800060-51110-000-000-000-00000
• $1,500 in 740-2800060-61010-000-000-000-00000
• $3,065 in 740-2800060-65180-000-000-000-00000
• $3,991 in 740-2800060-74100-000-000-000-00000
• $5,968 in 740-2800060-74110-000-000-000-00000
DATED, at Waukegan, Lake County, Illinois on April 12, 2011.