Title
Joint resolution approving the Program Year (PY) 2024 Lake County Affordable Housing Program (LCAHP) grant awards in the amount of $282,250.
Staff Summary
• In December 2023, Lake County Community Development received applications for eligible affordable housing programs and projects.
• There are $282,250 LCAHP Funds available to distribute, which include, $270,000 budgeted in Fiscal Year 2024 for Affordable Housing, a partial PY 2023 reallocation of $11,250, and $1,000 in program revenue from Prairie View Apartments.
• Funding recommendations include $90,000 to Habitat for Humanity of Lake County, $160,333 to Community Partners for Affordable Housing, $11,250 to Coalition Legal, and $20,667 for ineligible CDBG acquisitions costs in a prior year award.
Body
RESOLUTION
WHEREAS, Lake County has appropriated funds under the Lake County Affordable Housing Program (LCAHP) to increase affordable housing opportunities to residents of Lake County; and
WHEREAS, the Health and Community Services and the Financial and Administrative Committees, having reviewed and approved these LCAHP funding recommendations, are recommending approval by the Lake County Board.
NOW, THEREFORE, BE IT RESOLVED, by this County Board of Lake County, Illinois, that that the 2024 LCAHP grants totaling $282,250 are hereby approved; and
BE IT FURTHER RESOLVED, that the County Board Chair or their designee is hereby authorized to execute all necessary documents including grant agreements, lien releases, loan modifications, lien subordinations, and other administrative documents necessary to carry out the LCAHP projects.
DATED at Waukegan, Illinois, on July 9, 2024.