Title
Vote to reallocate PY2011 HOME Investment Partnerships Program agreement with YouthBuild Lake County
Staff Summary
· Under the PY2011 Annual Action Plan, HOME funds totaling $121,000 were allocated and commited via written agreement to YouthBuild Lake County for new construction of a single-family home at 2129(2127) Honore, North Chicago.
· As of January 2014, YouthBuild Lake County has not commenced construction of the home, and the project was subsequently canceled by HUD.
· Community Development staff recommends ending the written agreement with YouthBuild Lake County and reallocating the resulting balance of funds during the PY2014 HOME application round. The written agreement also included references to other HOME agreements related to acquisition and green agreements that are consequently also ended. The acquisition portion was resolved previously; the green portion is a separate agreement to be resolved at a later time.
· Upon approval of this reallocation, staff will submit complete the amendment process for the 2011 Annual Action Plan and amend existing contract documents accordingly.