Submitted By
Ahmad Zayyad, Deputy Village Manager / Interim Director of Development Customer Services
Reviewed By
LKS, Deputy Village Manager
Agenda Item Title
Title
A Resolution Approving a Funding Grant Agreement between the Village of Oak Park and the Oak Park Residence Corporation in the Amount of $42,500 for 2024 and Authorizing its Execution
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Overview
Overview
The 2024 Funding Grant Agreement between the Village of Oak Park and the Oak Park Residence Corporation (OPRC), including a scope of services and program goals and measurements is presented for the Village Board’s review.
End
Recommendation
Recommendation
Approve the Resolution.
Background
The contract between the Village of Oak Park and the Oak Park Residence Corporation utilizes general revenue funds to fund the small condominium management program. The Village has contributed funding to the Residence Corporation since the 1970’s. The agreement presented for 2024 is consistent with previous agreements, except that since 2010 the Village no longer provides general operating support to the Residence Corporation. In 2021, the Residence Corporation received $35,000 to administer the small condominium management program that started several years ago. This was a reduction of $7,500 from the 2020 funding. In 2022, a request was made to increase the funding by $7,500 to the 2019 and 2020 funding levels. In 2023, the request was made to keep funding at the same amount as recent practice. The funding request for 2024 is consistent with the previous years at $42,500. Payment is on a fee for service basis, payable in two semi-annual installments.
It is important to note that this partner agency funding agreement is under the Village Manager’s approved spending authority of $50,000. This funding grant agreement will no longer return to the Village Board for approval, unless the requested funding amount surpasses the Village Manager’s spending authority threshold.
Fiscal Impact
The proposed 2024 budget includes $42,500 in funding for the Oak Park Residence Corporation (Account #1001.46211.280.585652)
DEI Impact
The Oak Park Residence Corporation provides services for small condominium boards to help provide them with the resources needed to excel in their condo management efforts. The service is provided to the condo boards at no cost.
Alternatives
N/A
Previous Board Action
On December 5, 2022 the Village Board approved a funding grant agreement for the Oak Park Residence Corporation in the amount of $42,500 for fiscal year 2023.
On December 6, 2021, the Village Board approved a funding grant agreement for the Oak Park Residence Corporation in the amount of $42,500 for fiscal year 2022.
Citizen Advisory Commission Action
N/A
Anticipated Future Actions/Commitments
N/A
Intergovernmental Cooperation Opportunities
N/A