Lake County Housing and Community Development Commission - Executive Committee met Nov. 9
Here are the minutes provided by the committee:
1. Roll Call
Chair Pedersen called the Housing and Community Development Commission (HCDC) Executive Committee meeting to order at 2:33 p.m.
Staff: Eric Waggoner, Brenda O'Connell, Dominic Strezo, Eric Tellez, and Joy Rice
Present 3 - Linda Pedersen, Janet Swartz and Dan Venturi
Absent 4 - Sandy Hart, Billy McKinney, Ray Rose and Julie Simpson
2. Approval of Minutes
2.1 22-1689
Approval of the September 14, 2022 minutes.
Aye 3 - Chair Pedersen, Commissioner Swartz and Vice-Chairman Venturi
Absent 4 - Ex-Officio Member Hart, McKinney, Rose and Ex-Officio Member Simpson
3. Chair's Remarks
There were no chair remarks.
4. Public Comments (items not on the agenda)
5. Old Business
There was no old business.
6. New Business
6.1 22-1644
Joint resolution approving a Substantial Amendment to the Neighborhood Stabilization Program Round 1 (NSP1) Action Plan.
∙ In 2008, Lake County was awarded $4,600,800 of Neighborhood Stabilization Program (NSP) funds for the purpose of investing in housing in neighborhoods impacted by the foreclosure crisis.
∙ The $6,057,853 of program income generated when homes are resold, has been reinvested in additional projects.
∙ The final unallocated balance of NSP1 funds of $3,837 will be assigned to Community Partners for Affordable Housing (CPAH) for the active rental project at 2101-2107 Georgetown Lane, Waukegan.
∙ This final allocation will allow staff to close out the NSP program with HUD.
Presented by Dominic Strezo, Senior Grant Manager
Dominic explained to the Commission that Lake County was awarded $4,600,800 of Neighborhood Stabilization Program (NSP1) funds in 2008. The program has since generated $6,057,853 of program income. Currently $3,837 of NSP1 funds are unallocated. The NSP1 Program contains one active rental project at 2101-2107 Georgetown Lane, Waukegan. The proposed amendment allocates the balance of funds to Community Partners for Affordable Housing (CPAH) for the Georgetown Lane rental project.
6.2 22-1645
Joint resolution approving a Substantial Amendment to the Neighborhood Stabilization Program Round 3 (NSP3) Action Plan.
∙ In 2011, Lake County was awarded $1,370,422 of Neighborhood Stabilization Program funds for the purpose of investing in housing in neighborhoods impacted by the foreclosure crisis.
∙ The $1,021,596 of program income generated when homes are resold, has been reinvested in additional projects.
∙ Unallocated NSP3 funds in the amount of $88,212 will be assigned to Community Partners for Affordable Housing (CPAH) for the active rental project at 2101-2107 Georgetown Lane, Waukegan.
∙ The balance of NSP3 funds ($64,007) will be allocated to future Community Development Block Grant (CDBG) eligible activities as part of the NSP closeout process.
Presented by Dominic Strezo, Senior Grant Manager
Dominic explained to the Committee that Lake County was awarded an additional $1,370,422 of Neighborhood Stabilization Program (NSP3) funds in 2011. The NSP3 program has since generated $1,021,596 of program income. Lake County currently has $152,219 of unallocated NSP3 funds. The proposed amendment allocates $88,212 of NSP3 funds to Community Partners for Affordable Housing (CPAH) for an affordable rental housing project located at 2101-2107 Georgetown Lane, Waukegan. The balance of NSP3 funds ($64,007) will be allocated to future Community Development Block Grant (CDBG) eligible activities as part of the NSP closeout process.
7. Staff Reports
Brenda O'Connell, Community Development Administrator, held staff reports for the general Housing and Community Development Commission (HCDC) meeting.
8. Adjournment
Chair Pedersen adjourned the meeting at 2:44 pm.
https://lakecounty.legistar.com/View.ashx?M=M&ID=925079&GUID=FF957877-6061-45EE-838E-C0F133A44FB5
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