Title
Joint resolution authorizing reallocation of 2017 grant award and program income from the Lake County Affordable Housing Program (AHP).
Staff Summary
* The Housing and Community Development Commission (HCDC) developed 2017 funding recommendations for the Lake County Affordable Housing Program (AHP) that were approved by the Lake County Board on March 14, 2017. The "Towering Oaks" housing development in Island Lake, one such grantee, will not be moving forward so its AHP grant of $36,000 must be reallocated. In addition, $13,282.57 of AHP program income is available for reinvestment, bringing the total available to $49,282.57.
* Following the July 2017 floods in Lake County, the Long-Term Recovery Committee of the local Community Organizations Active in Disaster (COAD) has been impaneled pursuant to the Federal Disaster Recovery guidelines. As part of its recovery efforts, the COAD has identified the need to raise funds for repair/replacement of flood-damaged furnaces in homes where owners don't have the means to replace them. The United Way of Lake County has been designated by the COAD as the charitable agency responsible for pooling and disseminating funds for this purpose.
* The HCDC recommends the Lake County Board designate $49,282.57 in available AHP 2017 funds for potential emergency furnace replacement on flood-damaged houses not prone to repetitive flood damage and owned by low- and moderate income families for whom property insurance won't cover the work. In the event that some or all of the designated AHP funds are not needed for furnace replacement, the HCDC will recommend reallocation of those 2017 AHP funds in the 2018 affordable housing application funding process.
Body
RESOLUTION
WHEREAS, Lake County has appropriated funds under the Affordable Housing Program (AHP) to increase affordable housing opportunities to residents of Lake County; and
WHEREAS, the Health and Community Services Committee designated the Housing and Community ...
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