title
AUTHORIZING EXECUTION OF INTERGOVERNMENTAL AGREEMENT
WITH THE ILLINOIS HOUSING DEVELOPMENT AUTHORITY
TO IMPLEMENT THE FIRST-TIME
HOMEBUYER DOWNPAYMENT ASSISTANCE PROGRAM
resolution
WHEREAS, the cost of real estate in DuPage County has put homeownership out of reach for many middle-income DuPage residents; and
WHEREAS, County of DuPage has set aside Ten Million dollars ($10,000,000) in County general revenue funds to create the Housing Solutions Fund to help address the housing affordability challenge in DuPage; and
WHEREAS, County of DuPage recognizes the desirability of collaborating with other government agencies, such as the Illinois Housing Development Authority (“IHDA”), to effectively and efficiently implement the program; and
WHEREAS, County of DuPage Community Service Department staff have participated in discussions with IHDA regarding the feasibility of that agency administering the County’s downpayment assistance program; and
WHEREAS, the Intergovernmental Cooperation Act (5 ILCS 220/1 et seq.), enacted by the State of Illinois, permits the establishment of intergovernmental agreements between public agencies to perform governmental services, activities and undertakings; and
WHEREAS, such an intergovernmental agreement has been negotiated that outlines the terms and conditions associated with the County providing a total of Five Million, Three Hundred and Fifty Thousand Dollars, to IHDA to provide direct assistance to eligible households, and to cover eligible administrative expenses associated with the program; and
WHEREAS, it is in the opinion of the DuPage County Board, it is in the best interest, and the best interest of its residents, to enter into the aforementioned intergovernmental agreement for the implementation of the downpayment assistance program.
NOW, THEREFORE, BE IT RESOLVED that the County Board Chairman is authorized to execute the intergovernmental agreement with IHDA.
BE IT FURTHER RESOLVED, that the County C...
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