R2023-205 Resolution Authorizing Agreement with Community Investment Corporation of Decatur for Managing the Decatur Homebuyer Ecosystem, Counseling and Education Program

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AGREEMENT BETWEEN CITY OF DECATUR,ILLINOIS AND COMMUNITY INVESTMENT CORPORATION OF DECATUR FOR MANAGING THE DECATUR HOMEBUYER ECOSYSTEM, COUNSELING, AND EDUCATION PROGRAM This Agreement("Agreement") is made and entered into between the City of Decatur, Illinois, an Illinois municipal corporation("City") and the Community Investment Corporation of Decatur(CICD), for and in consideration of the mutual covenants and promises and good and valuable consideration contained herein. WHEREAS,the City has received funds from the American Rescue Plan Act("ARPA"); and, WHEREAS,the City has determined that a Decatur Homebuyer Ecosystem, Counseling and Education Program is needed to produce mortgage-eligible buyers as part of the City's housing strategy to rehabilitate abandoned homes for first-time buyers' opportunities, increase homeownership in the urban core, and create a more sustainable, safe,healthy, accessible, and efficient housing market; 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 create housing programs; and, WHEREAS,CICD has provided housing counseling and education services to residents of Decatur and Macon County since 1999 through its Welcome Home Program and has the expertise to prepare households to become homebuyers; and, WHEREAS,the City has determined that CICD has the capacity to administer and implement the Decatur Homebuyer Ecosystem, Counseling and Education Program. 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 grant amount not to exceed Two Hundred Thousand Dollars ($200,000) from its portion of the ARPA funds to CICD for administering and implementing Decatur's Homebuyer Ecosystem, Counseling and Education Program (the "Program")in the City of Decatur upon execution of this Agreement between the City and CICD. The grant is intended to be a reimbursement,more or less, of funds CICD has expended or will expend for startup and operation of the Program. Section 2. The City will be responsible for determining any additional criteria, data collection and eligibility for the program that may not be included in the ARPA funding agreement and notify CICD in writing. Section 3. CICD shall be responsible for the management, administration, and implementation of the Program, including the use of funds pursuant to the provisions of this Ex.A