title
HOME INVESTMENT PARTNERSHIPS AGREEMENT BETWEEN THE COUNTY OF DUPAGE AND TAFT AND EXMOOR LP, AN ILLINOIS LIMITED PARTNERSHIP
HM21-05/HM22-02/HM23-02
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 for HOME Investment Partnerships Act ("HOME") 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 continues to be a participating jurisdiction in the HOME program; and
WHEREAS, by Application for HOME Rental Production Funding originally submitted on March 1, 2024, TAFT AND EXMOOR LP, AN ILLINOIS LIMITED PARTNERSHIP (herein after called "DEVELOPER"), having a principal place of business at 310 S. Peoria St., Suite 500, Chicago, IL has submitted underwriting documentation and made application to the COUNTY for a loan of a portion of the COUNTY's HOME Funds to be used for eligible costs associated with the new construction of forty-two (42) units of affordable rental housing located in Glen Ellyn, Illinois, to be known as TAFT AND EXMOOR, and know...
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