Title
Joint resolution approving amendments to the 2004 through 2011 Annual Action Plans for Resale/Recapture Guidelines under the HOME Program.
Staff Summary
· The US Department of Housing & Urban Development (HUD) is requiring each jurisdiction that receives HOME funds to develop modifications to the Resale/Recapture Guidelines.
· These guidelines explain how and when funds are paid back to the County for HOME funded projects.
· The new guidelines were included in the 2012 Annual Action Plan, approved by the County Board in March, but must be added to previous Action Plans (2004-2011) to cover projects funded in those years.
· The Community Development Commission had a 30-day comment period culminating in a public hearing, and recommends approval of the amendments.
Body
WHEREAS, the U.S. Department of Housing and Urban Development (HUD) required jurisdictions that receive HOME funds to change its Resale/Recapture Guidelines, which explain how and when funds are paid back to the County for HOME funded projects; and
WHEREAS, the new guidelines were approved by HUD and included in the 2012 Annual Action Plan; and
WHEREAS, to fully implement the changes, HUD is requiring amendments to the previously accepted Annual Action Plans for the 2004 through 2011 program years; and
WHEREAS, the Community Development Commission has recommended approval of the amendments to the Annual Action Plans.
NOW, THEREFORE, BE IT RESOLVED, by this County Board of Lake County, Illinois, that the recommendation of the Community Development Commission to approve the amendments to the 2004-2011 Annual Action Plans for Resale/Recapture Guidelines is hereby approved; and
BE IT FURTHER RESOLVED, that the Chairman of the Lake County Board or his designee is hereby authorized to execute the necessary documents required by HUD.
DATED at Waukegan, Illinois, on July 10, 2012.