Title
Joint resolution authorizing an emergency appropriation from fund balance from the Emergency Rental Assistance #2 Fund (ERA 2), a special revenue fund, in the amount of $97,054.36 to accommodate the final expenses of the ERA 2 Fund programming.
Staff Summary
• Lake County received federal funds from the U.S. Department of Treasury to be used for assistance to households for rent and utilities pursuant to the American Rescue Plan Act of 2021 and was successful in obtaining additional funding due to the successful implementation of its initial allocations.
• Due to a shortage in the carryovers from prior year, an emergency appropriation is necessary to accommodate the final expenses to close out the ERA 2 fund, in accordance with County Board action in July 2024, which approved the use of final funds toward Lincoln Avenue Capital - Starling Senior Apartments.
• These federal funds are emergency appropriated according to Section 5.8 Emergency Appropriations of the 3.6 Budget Execution Policy.
Body
RESOLUTION
WHEREAS, Lake County received federal funds from the U.S. Department of Treasury to be used for assistance to households for rent and utilities pursuant to the American Rescue Plan Act of 2021; and
WHEREAS, due to a shortage in the prior year carryovers, insufficient funds are available to close out all allowed and approved expenses; and
WHEREAS, with this action, it will be possible to post all expenses and close out the fund upon final execution of the allowable expenses.
NOW, THEREFORE, BE IT RESOLVED, by this County Board of Lake County, Illinois, that an emergency appropriation from fund balance from the Emergency Rental Assistance Fund #2 Fund (ERA 2) in the amount of $97,054.36 from this fund is hereby authorized.
DATED at Waukegan, Illinois, on November 12, 2024.