title
MODIFICATION ONE
TO THE HOME INVESTMENT PARTNERSHIPS AGREEMENT
BETWEEN THE COUNTY OF DUPAGE AND TAFT AND EXMOOR LP,
AN ILLINOIS LIMITED PARTNERSHIP
resolution
WHEREAS, the Illinois General Assembly has granted COUNTY authority to make all contracts and do all other acts in relation to the property and concerns of the county necessary to the exercise of its corporate powers (Illinois Compiled Statutes, Chapter 55, paragraphs 5/5-1005), and to enter into agreements for the purposes of receiving funds from the United States government under the "Housing and Community Development Act of 1974", the National Affordable Housing Act of 1990, and the Housing and Community Development Act of 1992, and COUNTY may disburse those funds and other county funds for community development and other housing program activities (Illinois Complied Statutes, Chapter 55, paragraph 5/5-1093); and
WHEREAS, the COUNTY has applied to HUD for HOME Investment Partnerships Act funds from the United States Department of Housing and Urban Development ("HUD") as provided by the Cranston-Gonzalez National Affordable Housing Act, as amended (Title II, Pub. L. 101-625) ("ACT"); and
WHEREAS, Taft and Exmoor LP, an Illinois Limited Partnership, (hereinafter called "DEVELOPER"), having a principal place of business at 310 S. Peoria St., Suite 500, Chicago, IL 60607 made an application to COUNTY for a loan of a portion of COUNTY'S HOME Investment Partnerships Act Funds ("HOME FUNDS") in the amount of $1,750,000.00 for costs associated with the creation of 42 units of affordable rental housing, of which 10 units are HOME-assisted affordable housing units; and
WHEREAS, an Agreement was approved under Resolution #HS-R-0019-25 on December 9, 2025 requiring compliance with HOME requirements, and said agreement has been approved by Taft and...
Click here for full text