Submitted By
Ahmad M. Zayyad, Deputy Village Manager / Interim Director of Development Customer Services
Reviewed By
LKS
Agenda Item Title
Title
A Resolution Awarding a Multi-Family Housing Incentives Grant in the Amount of $10,000 and Authorizing the Execution of a Marketing Services Agreement (MSA 2311-G)
End
Overview
Overview
This Resolution would approve funding for a Multi-Family Incentives Grant for the Oak Park Residence Corporation and authorize the execution of a 3-year marketing services agreement.
End
Recommendation
Recommendation
Adopt the Resolution.
Body
Staff Recommendation
Adopt the Resolution.
Fiscal Impact
This grant totals $10,000.00, which will commit the remaining budget of the FY2023 budget for this type of grant, which is $150,000. Funding for this program exists in the FY2023 Budget within account # 1001-46206-300-585612 (Development Customer Services - Neighborhood Services, Housing Rehab Property Grants).
Background
The Development Customer Services Department administers the Multi-family Housing Incentives Program, which was established by an Ordinance in 1984. The program is open to multi-family buildings with four or more units. The program has two major purposes: (1) to upgrade the physical conditions of multi-family buildings; (2) to expand the housing choices of renters to encourage diversity. The program has three different types of assistance: (1) Grants of up to $10,000 for buildings or unit improvements; (2) Rental Reimbursement payments for vacant units certified by the Housing and CDBG Programs Division and the Oak Park Regional Housing Center as market-ready within a participating building; and (3) Marketing Services, whereby the Oak Park Regional Housing Center affirmatively markets their units.
On December 12, 2022, the Village issued a Request for Applications to all owners of multi-family buildings to apply for the grants and/or Marketing Services Agreements of the program. On April 25, 2023, the Housing Programs Advisory Committee (HPAC) reviewed and approved for recommendation sixteen (16) submitted applications. On May 15, 2023, the Village Board approved sixteen (16) grants and agreements totaling $139,210.57 from the FY2023 budget for grants of this type. On June 21, 2023, the Housing Programs Advisory Committee (HPAC) reviewed one additional application, which was previously submitted.
Attachments for each grant include a mortgage, note, and agreement with appendices. Each building will be inspected and owners will be required to address all violations before the final payout.
Alternatives
The Board may choose to review the Resolution again at a future meeting or not adopt the Resolution.
Previous Board Action
The program guidelines were adopted by the Village of Oak Park Board of Trustees on February 2, 2009, and amended on March 16, 2009, October 18, 2010, December 5, 2011, September 21, 2015, and March 18, 2019, to further define the provisions of the Village Ordinance enacting the Multi-Family Housing Incentives Program and to provide guidance to staff in administering the program.
Citizen Advisory Commission Action
All loan and grant requests are reviewed by the Housing Programs Advisory Committee (HPAC) before they are presented for Board approval. This request was reviewed by HPAC on June 21, 2023, and recommended for approval.
Anticipated Future Actions/Commitments
N/A
Intergovernmental Cooperation Opportunities
N/A