HomeMy WebLinkAboutRes 04-00 02/15/2000 ,,wi
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RESOLUTION NO. 4-2000
A RESOLUTION AUTHORIZING THE EXECUTION OF AN AGREEMENT
BETWEEN THE VILLAGE OF MOUNT PROSPECT
AND THE ILLINOIS HOUSING DEVELOPMENT AUTHORITY FOR A GRANT
FOR THE SINGLE FAMILY OWNER-OCCUPIED REHABILITATION PROGRAM
WHEREAS, the Village of Mount Prospect has been awarded a grant (the "Grant") by the Illinois
Housing Development Authority, as program administrator of the HOME Investment Partnerships
Program for the State of Illinois (the "Authority") in the amount of $132,000 under the Authority's
Single Family Owner-Occupied Rehabilitation Program; and
WHEREAS, in order to receive the Grant, the Village of Mount Prospect must formally authorize
certain of its officials to execute the appropriate documents required in connection with the Grant.
WHEREAS, the Village shall enter into a Grant Agreement (the "Grant Agreement") with the
Authority, wherein the Authority agrees to make the Grant to the Village, which shall be used to make
forgivable loans to assist iow-income households in the rehabilitation of single-family owner-occupied
residences, all in accordance with the terms and conditions set forth in the Grant Agreement.
WHEREAS, the Village of Mount Prospect is hereby authorized to execute and deliver to the
Authority the Grant Agreement, and all other documents and instruments relating to the Grant to be
delivered to the Authority in connection with the closing of the Grant.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND BOARD OF TRUSTEES OF THE
VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS:
SECTION ONE: That the corporate authorities of the Village of Mount Prospect hereby ratify,
authorize and confirm all documents and instruments previously executed in connection with the
Grant.
SECTION TVVO: That this Resolution shall be in full force and effect from and after its passage and
approval in the manner provided by law.
AYES: Hoefert, Lohrstorfer, Prikkel, Skowron, Wilks
NAYS: None
ABSENT: Corcoran
PASSED and APPROVED this 15th day of February ,2000.
Velma V~/. Lowe, Village Clerk