R2024-224 Resolution Authorizing an Amendment to the Central Illinois Land Bank Authority Agreement

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AGREEMENT BETWEEN THE CITY OF DECATUR AND CENTRAL ILLINOIS LAND BANK AUTHORITY REGARDING AMERICAN RESCUE PLAN FUNDS 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 funds from the American Rescue Plan funds ("ARP"); and, WHEREAS,the ARP funds received by the City may be used for specific eligible activities including increasing the supply of affordable and high-quality housing in our urban core; and, WHEREAS, the City would benefit from the capacity CILBA can add to managing residential rehabs in Decatur. 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 to CILBA the sum of Five Hundred Thousand Dollars ($500,000.00) from its portion of the ARP funds pursuant to and under the terms of this Agreement. Section 2. The City and CILBA agree to cooperatively work on residential rehab of homes primarily through an Abandonment to Rehab pilot program under the framework as generally described in the attached request and as approved by the Executive Director of CILBA and the City of Decatur's City Manager or his designee. Section 3. CILBA will be responsible for reviewing and determining all applicable federal, state and local laws, statutes and other regulations relating to the use of ARP funds provided under this Agreement. Section 4. The ARP funds provided by the City shall be used by CILBA on projects within the City of Decatur only, except that this limitation shall not apply to the administrative overhead paid to CILBA. Additionally these funds must be used in a manner consistent with and in compliance with the use of the ARP funds as set forth in all applicable federal,state and local laws, statutes, and other regulations. Section 5. That should the funds be used for or in any manner contrary to those uses set forth in this Agreement, upon written demand by the City, the CILBA will repay to the City the funds used contrary to the terms set forth herein.