ACTION REQUESTED:
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Communication from the City Manager, the Community Development Director and Finance Director with the request for the following:
A. ADOPT an ORDINANCE Amending the City of Peoria BUDGET for Fiscal Year 2014 Relating to the Funds Awarded by LOCAL Initiatives Support Corporation (LISC), in the Amount of $170,000.00;
B. AUTHORIZE the City Manager to Execute a SUBGRANTEE AGREEMENT with LISC, in the Amount of $170,000.00, for Property Demolitions.
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BACKGROUND:
The City is a team member of the Partners for a Better East Bluff. This partnership was created as a result of the $3 million dollar grant award from the Illinois Attorney General Office (AG) to Local Initiatives Support Corporation (LISC) from the National Foreclosure Settlement funds.
The Partnerships team members are listed below:
-LISC
-City of Peoria
-METEC
-NovaDebt
-East Bluff Neighborhood Housing Services (EBNHS)
-Illinois Facilities Fund (IFF)
-Peoria Opportunities Foundation (POF)
-Busey Bank
-Jim Maloof Realtor
Through the partnership, the City is able to provide various resources and assistance to accomplish neighborhood revitalization in the East Bluff, specifically in the East Village Growth Cell TIF. The EVGC TIF is the project area for the Partnership. Through a Memorandum of Understanding executed by members of the Partnership, the City was identified as a partner who could provide the much needed service of property demolition in the project area. As such, LISC set aside $170,000 of the awarded $3 million for property demolition to be subgranted to the City.
The subgrantee agreement between LISC and the City will state that the City will demolish no less than twenty (20) properties that the City either has received a Court Order for demolition or an owner agreement for demolition. The 20 properties will be demolished utilizing $170,000 in AG grant proceeds. The property demolitions will be completed in the project area (EVCG TIF). However, the City will make best efforts to focus demolition activities near properties that will be developed or renovated as part of the overall partnership. LISC staff attorneys in New York are preparing the subgrantee agreement and will submit a draft copy to the City to review before the end of the year.
FINANCIAL IMPACT: Attached to this communication is an ordinance amending the City's Budget for Fiscal Year 2014 as a result of the subgrantee agreement between LISC and the City in the amount of $170,000.
NEIGHBORHOOD CONCERNS: Since the AG grant award announcement in 2013, the Partners for a Better East Bluff have actively engage residents and community leaders in the planning and development of activities funded under the AG grant. Residents have been supportive of the Partners' plans and proposed development. Additionally, property demolitions in the East Bluff neighborhood has previously been identified as needed activities. These funds will increase the City's capacity to demolish additional structures.
IMPACT IF APPROVED: The City and LISC will execute a subgrantee agreement in the amount of $170,000 for 20 property demolitions in the EVCG TIF. Additionally, the City's Budget for the Fiscal Year 2014 will be amended to reflect the awarded funds from LISC.
IMPACT IF DENIED: The City and LISC will not execute a subgrantee agreement in the amount of $170,000 for 20 property demolitions in the EVCG TIF. Additionally, the City's Budget for the Fiscal Year 2014 will not need to be amended to reflect the awarded funds from LISC.
ALTERNATIVES: None.
EEO CERTIFICATION NUMBER: N/A
WHICH OF THE GOALS IDENTIFIED IN THE COUNCIL'S 2014 - 2029 STRATEGIC PLAN DOES THIS RECOMMENDATION ADVANCE?
1. Attractive Neighborhoods with Character: Safe and Livable
WHICH CRITICAL SUCCESS FACTOR(S) FROM THE COMPREHENSIVE PLAN DOES THIS RECOMMENDATION IMPLEMENT?
1. Reinvest in neighborhoods.
DEPARTMENT: Community Development