Submitted By
Tammie Grossman, Director Development Customer Services
Reviewed By
AMZ
Agenda Item Title
Title
A Resolution Approving an Amendment to the Funding Grant Agreement Between the Village of Oak Park and Oak Park Regional Housing Center Dated March 3, 2021 and Authorizing its Execution
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Overview
Overview
Pursuant to the Village Board's direction at its June 7, 2021 meeting, an amendment to the 2021 Funding Grant Agreement between the Village of Oak Park and Oak Park Regional Housing Center (OPRHC) is hereby presented for the Village Board's review and approval. The Amendment cures the event of default and releases $225,000 in 2020 funding being withheld under the terms of the 2021 Funding Grant Agreement due to the OPRHC's breach of the 2020 Agreement and extends the due date for the 2020 audit from July 1, 2021, to November 30, 2021.
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Recommendation
Recommendation
Approve the Resolution
Fiscal Impact
The adopted FY 2021 Budget includes $600,000 in funding for the OPRHC (Account # 1001.46206.240.585652) which includes the 2021 budgeted amount of $300,000 for 2021 services and a carry forward of the 2020 allocation of $300,000 of unspent funds. At present, the Village has only paid $75,000 of the 2020 funding as directed by the Village Board. If this item is approved, staff will remit the outstanding $225,000 in 2020 funding to OPRHC and once invoiced will remit the first two-quarters of funding for 2021.
Background
The Village has funded the Housing Center since its creation in the 1970s. Historically, the Village supports OPRHC utilizing both General Revenue Funds and federal Community Development Block Grant (CDBG) funds to pay for specific projects of the Housing Center relating to the Multi-family Housing Incentives Program and also its general administration. Because the Housing Center provides services for CDBG and non-CDBG funded activities, it is necessary for the Village and the Housing Center to have separate agreements for...
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