Lake County, IL
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File #: 20-1024    Version: 1 Name: Joint resolution authorizing an emergency appropriation in the amount of $405,391.92 of community development program income.
Type: resolution Status: Passed
File created: 7/24/2020 In control: Health & Community Services Committee
On agenda: Final action: 8/11/2020
Title: Joint resolution authorizing an emergency appropriation in the amount of $405,391.92 of community development program income.
Attachments: 1. 2020-07 Emergency Appropriation PI

Title

Joint resolution authorizing an emergency appropriation in the amount of $405,391.92 of community development program income.

 

Staff Summary

                     Periodically, program income is received by Community Development for programs administered by the County.

                     A total of $1,000 of Lake County Affordable Housing Program (LCAHP), $162,534.65 of Community Development Block Grant (CDBG), $144,985.66 of HOME and $96,871.61 of Neighborhood Stabilization Program (NSP) program income has been generated and has not been previously appropriated.

                     The program income received was the result of home sales ($228,262.15), loan payments ($55,073.64) and mortgage payoffs ($122,056.13).

 

Body

RESOLUTION

 

WHEREAS, Lake County has received revenue from programs funded from federal sources including; Community Development Block Grant (CDBG), HOME Investment Partnership (HOME) and Neighborhood Stabilization Program (NSP); and

 

WHEREAS, Lake County has received revenue from programs funded from the Lake County Affordable Housing Program (LCAHP); and

 

WHEREAS, a total of $162,534.65 of CDBG, $144,985.56 of HOME, $96,871.61 of NSP and $1,000 of LCAHP program income has been generated from home sales, loan payments and payoffs; and

 

WHEREAS, an emergency appropriation is necessary to establish funding to Lake County Board approved AHP, CDBG, HOME and NSP Program investments.

 

NOW, THEREFORE, BE IT RESOLVED, by this County Board of Lake County, Illinois, that an emergency appropriation in the amount of $405,391.92 is hereby authorized in the Community Development budget as identified on the attached listing budget modifications attached hereto.

 

DATED at Waukegan, Illinois, on August 11, 2020.