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Regular Village Board meetings are typically held at 7:00 p.m., the first three Tuesdays of each month in Council Chambers of Village Hall (room 201), 123 Madison St. When a Regular Meeting falls on a holiday, the meeting typically is held the following night. The Village Board also meets in special sessions from time to time. However, dates and times of Special Meetings can vary and may change.

File #: RES 21-2    Name:
Type: Resolution Status: Passed
In control: President and Board of Trustees
On agenda: 1/19/2021 Final action: 1/19/2021
Title: A Resolution Approving a Funding Grant Agreement between the Village of Oak Park and the Oak Park Residence Corporation in the Amount of $35,000 for Fiscal Year 2021 and Authorizing its Execution
Attachments: 1. Resolution, 2. 2021 Funding Grant Agreement, 3. Exhibit 1 OPRC 2021 Funding Distribution, 4. Exhibit 2 Scope of Services, 5. Exhibit 3 OPRC 2021 Addendum, 6. OP Residence Corp Exhibit 3a Procurement Policy-Rev.9-08, 7. 2020 YTD Activities Report, 8. 2020 Funding Grant Agreement

Submitted By                     

Tammie Grossman, Development Customer Services Director

 

Reviewed By

LKS

 

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 $35,000 for Fiscal Year 2021 and Authorizing its Execution

 

End

Overview

Overview

This is the annual agreement adopted by the Village to provide funding for this agency for the small condominium management program.  The Oak Park Residence Corporation works with smaller condominium owner association boards to teach them how to effectively manage and operate a condominium building.

 

End

Recommendation

Recommendation

Approve the Resolution.

 

Fiscal Impact

The Recommended FY 2021 Budget includes $35,000 for funding for the Oak Park Residence Corporation (Account #1001.46206.280.585652).

 

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 started a couple of years ago.

 

The Village has contributed funding to the Residence Corporation since the 1970’s. The contract presented in 2021 is consistent with previous contracts except that since 2010 the Village no longer provides general operating support to the Residence Corporation. In 2020, the Residence Corporation will receive $35,000 to administer the small condominium management program started several years ago. This is a reduction of $7,500 from 2020 funding.  Payment is on a fee for service basis, payable in two semi-annual installments.

 

Alternatives

The alternative would be to not fund the Oak Park Residence Corporation to work with smaller condominium associations. However, the Village of Oak Park has 178 out of 289 condominium associations with 12 or fewer units. Those condominium associations often have limited resources to hire outside management companies to help the association set up proper policies and protocols to effectively manage their building. The Small Condo Project gives associations the resources to learn effective self-management skills. Not funding this program would leave those associations without this important resource.

 

Previous Board Action

N/A.

 

Citizen Advisory Commission Action

N/A.

 

Anticipated Future Actions/Commitments

N/A.

 

Intergovernmental Cooperation Opportunities

N/A.