Submitted By
Tammie Grossman, Development Customer Services Director
Reviewed By
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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 2018 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.
Body
Staff Recommendation
Approve the Resolution.
Fiscal Impact
The 2018 budget allocation request assumes general revenue funds totaling $35,000. The contract shall not exceed $35,000 in costs for the condominium management program, which are paid as a fee for service based on invoices submitted.
Contract administration and oversight will be within the responsibilities of the Neighborhood Services Manager.
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 Residence Corporation since the 1970’s. The contract presented in 2018 is consistent with previous contracts except that since 2010 the Village no longer provides general operating support to the Residence Corporation. In 2018, the Residence Corporation will receive $35,000 to administer the small condominium management program started several years ago. The funding amount was increased from $25,000 in 2014 to enable the program to assist two additional condominium associations and to provide additional general telephone support. 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
NA
Citizen Advisory Commission Action
NA
Anticipated Future Actions/Commitments
NA
Intergovernmental Cooperation Opportunities
The Oak Park Residence Corporation is a housing partner agency of the Village of Oak Park.
Performance Management (MAP) Alignment
A governance priority for the Development Customer Service Department is to provide housing units rented to low-income individuals at affordable rent and to improved diversity.