ACTION REQUESTED:
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Communication from the City Manager and Director of Community Development with a Request for the Following:
A. 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 $45,000.00; and
B. ADOPT an ORDINANCE Amending the CITY OF PEORIA 2021 REVISED ANNUAL BUDGET Relating to the Capital Fund to Recognize the Receipt of a Grant from the Illinois Housing Development Authority (IHDA) for the ABANDONED RESIDENTIAL PROPERTY MUNICIPALITY RELIEF FUND (APP) and Corresponding Expenditures, in the Amount of $45,000.00.
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BACKGROUND: The City of Peoria was awarded $45,000.000 in demolition grant funds from IHDA's Abandoned Residential Property Municipality Relief Fund (APP) in a competitive grant application process. 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.
APP funds will be used for demolition of approximately five houses in the 61605 zip code. The grant funds from IHDA will be in addition to the other resources currently allocated for property demolition.
Upon approval of the Resolution, it is anticipated that the funds will be available in August 2021.
FINANCIAL IMPACT: The City of Peoria will receive a grant from IHDA in the amount of $45,000.00 to demolish abandoned and vacant homes in the 61605 zip code.
NEIGHBORHOOD CONCERNS: There is a continued need for additional resources to mitigate blighting influences, such as abandoned and vacant properties, in our community's neighborhoods. It is anticipated that these funds would be a welcomed resource to increase capacity to demolish such structures.
IMPACT IF APPROVED: The City would have an additional $45,000 in grant funds from IHDA to utilize for demolition.
IMPACT IF DENIED: The City would not have ...
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