ACTION REQUESTED:
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Communication from the City Manager and the Community Development Director with a Request to Approve an INCUMBENCY CERTIFICATE and RESOLUTION Accepting a Grant from the Illinois Housing Development Authority (IHDA) for the ABANDONED RESIDENTIAL PROPERTY MUNICIPALITY RELIEF FUND (APP), in the Amount of $75,000.00.
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BACKGROUND:
In late 2013, the City of Peoria submitted an application to IHDA for a grant from the Abandoned Residential Property Municipality Relief Fund (APP). The APP was created in 2010 when Governor Quinn signed the Save Our Neighborhoods Act. Funding for the Program was expanded by subsequent legislation that Governor Quinn signed into law in 2013.
Funding for the Program is derived solely from foreclosure filing fees paid by lending institutions and collected by the county clerk in which the foreclosure is filed. The collection of additional filing fees began in June 2013.
The City was awarded $75,000 in grant funds. The grant funds from IHDA would be in addition to the other resources currently allocated for property demolition, i.e. - HUD CDBG and corporate funds.
These funds may be used for securing, maintaining, demolishing or rehabilitating abandoned homes. In accordance with the adopted Wellness Plan for neighborhood revitalization and preservation, staff strategically reviewed areas in the City that could benefit from increased resources for property demolition. Staff will focus awarded APP funds for the far south side neighborhoods for demolishing abandoned and vacant homes. Staff will be able to increase the amount of properties demolished by focusing its efforts and allocating resources for a needed level of service in a specific geographical area of our community. Please see the attached map for the proposed area.
Upon approval of the Resolution, it is anticipated that the funds will be available in August 2014 and must be expended by July 2016.
FINANCIAL IMPACT: The...
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