R2023-18 Resolution Authorizing Agreement between City of Decatur, Illinois and Central Illinois Land Bank Authority Regarding Housing Assistance Programs

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AGREEMENT BETWEEN CITY OF DECATUR,ILLINOIS AND CENTRAL ILLINOIS LAND BANK AUTHORITY REGARDING HOUSING ASSISTANCE PROGRAMS This Agreement("Agreement") is made and entered into between the City of Decatur, Illinois, an Illinois municipal corporation("City") and the Central Illinois Land Bank Authority (CILBA), for and in consideration of the mutual covenants and promises and good and valuable consideration contained herein. WHEREAS, the City has received Home Repair and Accessibility Program funds from the Illinois Housing Development Authority(IHDA); and, WHEREAS,the City has received funds from the American Rescue Plan Act("ARPA"); and, WHEREAS, the City has determined that housing assistance is needed to implement the Home Repair and Accessibility Program for health, safety, energy efficiency, accessibility, roof rehabilitation, and the Abandonment to Rehabilitation Program; and, WHEREAS,the IHDA Home Repair and Accessibility Program funds received by the City may be used for specific eligible activities, including to make forgivable mortgage loans to low-income households (below 80%AMI) and very low-income households (below 50%AMI) in connection with making repairs for health, safety, energy efficiency, accessibility,roof repair or replacement; and, WHEREAS, the ARPA funds received by the City may be used for specific eligible activities, including to finance, repair and rehabilitate residential units; and, WHEREAS, CILBA's mission is to assist member communities and forge partnerships with developers, end users and others that results in revitalized neighborhoods, increased property values, stabilized real estate markets and redevelopment of properties in Vermilion County, Champaign County, and Decatur; and, WHEREAS,the City has determined that CILBA has the capacity to administer and implement housing assistance programs. NOW, THEREFORE, in consideration of the mutual promises and covenants, it is agreed between the parties hereto the following: Section 1. The City agrees to provide a matching grant amount not to exceed Four Hundred Thousand Dollars ($400,000) from its portion of the ARPA funds to CILBA for use in the Illinois Housing Development Authority's Home Repair and Accessibility Program in the City of Decatur upon execution of this Agreement between the City and CILBA, contingent upon the City receiving said funds from IHDA.