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 $42,500 for 2019 and Authorizing its Execution
End
Overview
Overview
This is the annual Funding Grant 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 2019 budget allocation request assumes general revenue funds totaling $42,500 account #1001.46206.280.585652. The contract shall not exceed $42,500 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 Development Customer Services
Background
The Funding Grant Agreement 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 and is substantially the same as last year.
The Village has contributed funding to Residence Corporation since the 1970's. The contract presented in 2019 is consistent with previous contracts except that since 2010 the Village no longer provides general operating support to the Residence Corporation. In 2019, the Residence Corporation will receive $42,500 to administer the small condominium management program started several years ago. The funding amount was increased from $35,000 in 2018 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 P...
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