Title
Joint resolution approving a third amendment to the 2020 United States Housing and Urban Development (HUD) Annual Action Plan (AAP).
Staff Summary
* HUD requires the submission of an Annual Action Plan (AAP) and associated amendments to govern expenditure of federal housing and community development funding for each program year.
* HUD notified Lake County that an error was made in calculating Fiscal Year 2020 (FY 2020) allocations resulting in a slight reduction to Lake County's Community Development Block Grant (CDBG) and HOME grants. The revised FY 2020 allocations are $2,904,904 CDBG and $1,669,965 HOME. A total of $459 CDBG program income and $346 HOME program income has been allocated to account for the difference and ensure availability of funds already committed through the approved AAP.
* Additionally, the AAP assigns prior year funds made available through loan repayments and project changes. The AAP allocates $30,763 of CDBG program income, $92,847.63 CDBG prior year funds, $109,675 Lake County Affordable Housing Program (LCAHP) prior year funds and $14,124 HOME program income in the following ways:
o $13,476.63 in CDBG and $109,675 in LCAHP to Community Partners for Affordable Housing (CPAH) for the acquisition of affordable housing properties in Libertyville, Illinois;
o $109,675 of prior year CDBG to CPAH for acquisition of a Community Land Trust (CLT) unit; and
o $13,778.40 in HOME funds to CPAH for the down payment assistance program.
Body
RESOLUTION
WHEREAS, HUD requires the submission of an AAP and associated amendments to govern the expenditure of federal funding, including assigning program income and reallocating prior year funds; and
WHEREAS, HUD made an error in calculating Fiscal Year 2020 (FY 2020) allocations resulting in a $459 reduction to Lake County's Community Development Block Grant (CDBG) and $346 HOME grants; and
WHEREAS, a total of $30,763 of CDBG program income and $14,124 of HOME program income has been generated...
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