Title
Joint resolution authorizing amendments to Neighborhood Stabilization Program Subrecipient Agreements.
Staff Summary
• The Neighborhood Stabilization Program (NSP) Subrecipient Agreements were originally authorized by resolution of the County Board on October 14, 2008.
• Since that time, regulations and requirements have been reinterpreted and clarified by the US Department of Housing and Urban Development.
• As a result, the Subrecipient Agreements must be amended to reflect these changes.
• The changes include: 1) Use of program income and grant funds for eligible activities; 2) clarification on requirements associated with funding sources; and 3) processing administrative and project delivery expenses.
Body
WHEREAS, the Neighborhood Stabilization Program (NSP) provided $4.6 million to Lake County from the US Department of Housing & Urban Development (HUD) to purchase and rehabilitate foreclosed homes; and
WHEREAS, Lake County has partnered with the Affordable Housing Corporation, Lake County Residential Development Corporation, and the Cities of Waukegan and North Chicago to implement this program; and
WHEREAS, the County Board authorized the execution of subrecipient agreements with its partners in the NSP on October 14, 2008; and
WHEREAS, the regulations and requirements of the program have been subject to reinterpretation and clarification; and
WHEREAS, these changes require amendments to the subrecipient agreements to continue the successful implementation of the NSP.
NOW, THEREFORE BE IT RESOLVED, by this County Board of Lake County, Illinois, that the Chairman of the County Board is hereby authorized to execute amendments to the subrecipient agreements for the Neighborhood Stabilization Program.
DATED, at WAUKEGAN, LAKE COUNTY, ILLINOIS on January 11, 2011.