Submitted By
Steve Drazner, CFO
Reviewed By
LKS
Agenda Item Title
Title
A Resolution Approving an Intergovernmental and Subrecipient Agreement for Coronavirus Relief Funds with Cook County and Authorizing its Execution
End
Overview
Overview
This is an Intergovernmental Agreement (IGA) between the Village of Oak Park and Cook County which is required in order to receive an allotment of $450,182 in grant funding to pay for COVID-19 related expenditures not reimbursed through other sources.
Body
Staff Recommendation
Approve the Resolution.
Fiscal Impact
Additional revenue of up to $450,182 to offset and reimburse the Village for un-budgeted COVID-19 related expenditures.
Background
Cook County is distributing approximately $51 million which it received under the Federal CARES Act to suburban municipalities. The Village of Oak Park's allotment of this $51 million is $450,182. This funding can be used to reimburse the Village for unforeseen expenditures related to COVID-19. Expenditures reimbursed through other similar grants would obviously be excluded from reimbursement under this grant.
One important caveat with this grant is that only expenditures which have not been originally budgeted in the current fiscal year are eligible for reimbursement. Additionally, expenditures must specifically be related to the COVID-19 public health emergency and be incurred between March 1, 2020 and December 30, 2020.
The intergovernmental agreement attached for Board approval between Cook County and the Village related to this grant outlines the various terms and conditions that the Village must agree to in order to accept these funds. Board approval of this IGA will provide the Village Manager authorization to execute the IGA and thus requiring compliance with all the terms and conditions for this grant.
Alternatives
The Village Board could ask for additional time to review.
Previous Board Action
N/A
Citizen Advisory Commission Action
N/A
Anticipated F...
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