Submitted By
Ahmad M. Zayyad, Deputy Village Manager/Interim Director of Neighborhood Services
Reviewed By
Erin E. Baynes, Assistant to the Village Manager
Agenda Item Title
Title
Resolutions Approving Amendments to Housing Forward's Funding Grant Agreements for Affordable Housing Projects Funded by the Housing Trust Fund and Authorizing Execution of the Amendments:
1. A Resolution Approving an Amendment to the Funding Grant with Housing Forward for Its Flexible Rental Assistance Program to Increase the Not-to-Exceed Amount from $251,341 to $340,913
2. A Resolution Approving an Amendment to the Funding Grant Agreement with Housing Forward for Its Crisis Housing and Rental Support Program to Decrease the Not-to-Exceed Amount from $658,082 to $568,510
End
Overview
Overview
Housing Forward has requested amendments to its individual agreements. These amendments do not impact the total funds drawn from the Housing Trust Fund.
End
Recommendation
Recommendation
Adopt the Resolutions.
Background
On March 20, 2023, the Village Board approved four (4) funding grant agreements for affordable housing projects totaling $1,484,000 from the Housing Trust Fund and authorized execution of the agreements.
Two (2) of the agreements approved were for Housing Forward. In the first agreement, a total of $658,082 was awarded to Housing Forward for three years for its Crisis Housing and Rental Support Program for families and transitioned-aged youth. The program serves unsheltered transition-aged youths and families.
In the second agreement, Housing Forward, on behalf of the Oak Park Homelessness Coalition, received funding in the amount of $251,341. This agreement was for an award over two years to provide a Flexible Rental Assistance Program (FRAP) to serve households below 50% of the area median income (AMI).
On February 21, 2024, at the Housing Programs Advisory Committee (HPAC) meeting, HPAC reviewed the performance of the Trust Fund agreements for Housing...
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