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APPROVING PROJECTS FOR AFFORDABLE RENTAL HOUSING USING EMERGENCY RENTAL ASSISTANCE PROGRAM 2 FUNDS
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WHEREAS, the County of Kane, through its former Office of Community Reinvestment, has received $15,533,153.00 from the U.S. Department of Treasury through the Emergency Rental Assistance Program 2 (ERAP2); and
WHEREAS, a maximum of twenty-five percent ($3,883,288.00) may be used for affordable rental housing projects; and
WHEREAS, the County of Kane, through its former Office of Community Reinvestment, had proposed to use funds available from the U.S. Department of Treasury through the Emergency Rental Assistance Program 2 (ERAP2) in Kane County listed in Appendix A; and
WHEREAS, the U.S. Department of Treasury has approved the use of ERAP2 funds for the projects listed in Appendix A; and
WHEREAS, ERAP2 funds must be spent by September 30, 2025; and
WHEREAS, Kane County Board Resolution No. 04-06 established the Kane-Elgin HOME Consortium; and
WHEREAS, said program, funded by the U.S. Department of Housing and Urban Development (HUD) and U.S. Department of Treasury is to be implemented in a manner consistent with the priorities and strategies identified in the local jurisdiction's Housing and Community Development Consolidated Plan; and
WHEREAS, the County's Consolidated Plan, which covers a five-year period including Program Years 2020 through 2024, was approved by the Kane County Board with the passage of Resolution No. 20-104; and
WHEREAS, the County's 2020-2024 Consolidated Plan approved by the Kane County Board authorizes the Kane-Elgin HOME Commission to allocate funds from the Affordable Housing Fund; and
WHEREAS, the Kane-Elgin HOME Commission received applications and reviewed the projects listed in Appendix A; and
WHEREAS, the Kane-Elgin HOME Commission authorized funding for the projects listed in Appendix A ...
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