The County of Cook, Illinois is seeking approval from HUD for a $30 million Section 108 Loan Guarantee Program to establish the Built in Cook Loan Fund. The loan funds would support economic development projects throughout suburban Cook County that benefit low-to-moderate income individuals. Eligible projects could include transit-oriented development, cargo-oriented development, mixed-use hospitality/service projects, and business development loans. The application document provides details on the county's economic challenges, proposed use of funds, underwriting criteria for selected projects, and process for stakeholder and public participation.
Draft Substantial Amendment 2010-2014 Consolidated Plan, Cook County IL cookcountyblog
The County of Cook, Illinois is seeking a substantial amendment to its 2010-2014 Consolidated Plan to establish a $30 million loan pool under HUD's Section 108 Loan Guarantee Program to support economic development initiatives. This would require revising the plan's economic development priorities and strategies. The amendment document provides the revised narratives and outlines a process for stakeholder consultation and citizen participation, including public hearings with the Community Development Advisory Council and Cook County Board of Commissioners.
The County of Cook, Illinois is seeking approval from HUD for a $30 million Section 108 Loan Guarantee Program to establish the Built in Cook Loan Fund. The loan funds would support economic development projects throughout suburban Cook County that benefit low-to-moderate income individuals. Eligible projects could include transit-oriented development, cargo-oriented development, mixed-use hospitality/service projects, and business development loans. The application document provides details on the county's economic challenges, proposed use of funds, underwriting criteria for selected projects, and process for stakeholder and public participation.
The document is Cook County's Annual Action Plan for Program Year 2012, which outlines how the county will use funding from the Community Development Block Grant (CDBG), Emergency Solutions Grants (ESG), and HOME Investment Partnerships programs to address housing, homelessness, and community development needs between October 1, 2012 and September 30, 2013. The plan identifies funding amounts and strategies that will be pursued to provide affordable housing, prevent homelessness, support special needs housing, and undertake community development activities.
This document outlines the need for housing policy reform in Indonesia. It notes that rapid urbanization and population growth have overwhelmed the government's ability to ensure all citizens have access to safe and affordable housing. Around 20% of Indonesia's 64.1 million households live in poor housing conditions. The document recommends establishing strategic objectives to ensure no Indonesians live in slums and all have access to affordable housing by 2019. It proposes targets and policy actions to achieve these objectives over the next five years through slum upgrading, affordable housing development, and housing finance reforms.
This document is the 2015-2019 Consolidated Plan for the City of Des Plaines, Illinois. It summarizes the city's past performance in addressing housing and community development needs using Community Development Block Grant funds. Key objectives identified include preserving affordable housing, addressing homelessness, and improving public facilities and services in low-income areas. While some goals were met around housing rehabilitation and infrastructure improvements, other goals for the number of households assisted fell short. The plan aims to better address the needs of an aging population, a more complex homeless population, and infrastructure/facility gaps in low-income neighborhoods over the next five years.
smc bos measure k revised allocation optionsAdina Levin
This document discusses two options to revise the Measure K allocation plan to increase funding for affordable housing. Option 1 would increase affordable housing funding to $22.5 million in FY 2017-18 and $25 million in FY 2018-19 by reducing funds for other initiatives like youth programs, transportation contributions, district-specific allocations, and IT projects. Option 2 would increase affordable housing funding to $20 million annually by decreasing transportation contributions and youth programs. Both options propose allocating the increased affordable housing funds to development projects and ongoing housing programs.
Housing in Indonesia: Expanding Access, Improving Efficiency Oswar Mungkasa
This document provides a summary and analysis of housing trends and challenges in Indonesia. It finds that three main factors constrain housing supply: 1) inefficient land administration and cumbersome permitting processes, 2) lack of affordable financing options, especially for middle- and low-income households, and 3) limited coordination and investment in infrastructure by local governments. Self-built housing continues to be the main form of housing production but faces challenges without proper support. The report recommends prioritizing efforts to stimulate private housing markets through improved land policies and financing, increasing local government involvement in facilitating affordable housing development, and reforming permitting and land administration systems.
Draft Substantial Amendment 2010-2014 Consolidated Plan, Cook County IL cookcountyblog
The County of Cook, Illinois is seeking a substantial amendment to its 2010-2014 Consolidated Plan to establish a $30 million loan pool under HUD's Section 108 Loan Guarantee Program to support economic development initiatives. This would require revising the plan's economic development priorities and strategies. The amendment document provides the revised narratives and outlines a process for stakeholder consultation and citizen participation, including public hearings with the Community Development Advisory Council and Cook County Board of Commissioners.
The County of Cook, Illinois is seeking approval from HUD for a $30 million Section 108 Loan Guarantee Program to establish the Built in Cook Loan Fund. The loan funds would support economic development projects throughout suburban Cook County that benefit low-to-moderate income individuals. Eligible projects could include transit-oriented development, cargo-oriented development, mixed-use hospitality/service projects, and business development loans. The application document provides details on the county's economic challenges, proposed use of funds, underwriting criteria for selected projects, and process for stakeholder and public participation.
The document is Cook County's Annual Action Plan for Program Year 2012, which outlines how the county will use funding from the Community Development Block Grant (CDBG), Emergency Solutions Grants (ESG), and HOME Investment Partnerships programs to address housing, homelessness, and community development needs between October 1, 2012 and September 30, 2013. The plan identifies funding amounts and strategies that will be pursued to provide affordable housing, prevent homelessness, support special needs housing, and undertake community development activities.
This document outlines the need for housing policy reform in Indonesia. It notes that rapid urbanization and population growth have overwhelmed the government's ability to ensure all citizens have access to safe and affordable housing. Around 20% of Indonesia's 64.1 million households live in poor housing conditions. The document recommends establishing strategic objectives to ensure no Indonesians live in slums and all have access to affordable housing by 2019. It proposes targets and policy actions to achieve these objectives over the next five years through slum upgrading, affordable housing development, and housing finance reforms.
This document is the 2015-2019 Consolidated Plan for the City of Des Plaines, Illinois. It summarizes the city's past performance in addressing housing and community development needs using Community Development Block Grant funds. Key objectives identified include preserving affordable housing, addressing homelessness, and improving public facilities and services in low-income areas. While some goals were met around housing rehabilitation and infrastructure improvements, other goals for the number of households assisted fell short. The plan aims to better address the needs of an aging population, a more complex homeless population, and infrastructure/facility gaps in low-income neighborhoods over the next five years.
smc bos measure k revised allocation optionsAdina Levin
This document discusses two options to revise the Measure K allocation plan to increase funding for affordable housing. Option 1 would increase affordable housing funding to $22.5 million in FY 2017-18 and $25 million in FY 2018-19 by reducing funds for other initiatives like youth programs, transportation contributions, district-specific allocations, and IT projects. Option 2 would increase affordable housing funding to $20 million annually by decreasing transportation contributions and youth programs. Both options propose allocating the increased affordable housing funds to development projects and ongoing housing programs.
Housing in Indonesia: Expanding Access, Improving Efficiency Oswar Mungkasa
This document provides a summary and analysis of housing trends and challenges in Indonesia. It finds that three main factors constrain housing supply: 1) inefficient land administration and cumbersome permitting processes, 2) lack of affordable financing options, especially for middle- and low-income households, and 3) limited coordination and investment in infrastructure by local governments. Self-built housing continues to be the main form of housing production but faces challenges without proper support. The report recommends prioritizing efforts to stimulate private housing markets through improved land policies and financing, increasing local government involvement in facilitating affordable housing development, and reforming permitting and land administration systems.
Investment Opportunity - Indonesia Housing BacklogArief Darmawan
Indonesia faces a substantial housing deficit, with an estimated need for 820,000-920,000 new housing units per year in urban areas to meet population growth. However, only 400,000 units are produced annually by the private sector, leaving a gap of 220,000-370,000 households that must resort to informal housing solutions. Affordability is a key constraint, as high costs, low incomes, and limited access to financing restrict most Indonesians to the informal market. While the government has developed programs to support housing, spending remains too low to have significant impact at the necessary scale.
Current affairs monthly magzine december vajiramVajiram Ravi
Vajiram & Ravi has introduced a new monthly current affairs magazine called ‘The Recitals’, which approaches current affairs through question and answers. ‘The Recitals’ deciphers current affairs in different section necessary for Prelims Current Affairs through Multiple Choice Questions (MCQs), Mains Current Affairs Question & Answers and Interview Current Affairs. The current affairs magazine does not merely provide information, but focuses on the analysis on current issues necessary for the exam.
The notice announces a public hearing and period for public comment on four items: 1) a draft amendment to the 2011 Annual Action Plan for Emergency Solutions Grants funding; 2) a draft amendment to the 2012 Annual Action Plan for Community Development Block Grant and Emergency Solutions Grants funding; 3) a draft revised Citizen Participation Plan; and 4) a draft 2011 Consolidated Annual Performance and Evaluation Report. The public comment period for items 1-3 is October 8 through November 8, 2012 and for item 4 is October 24 through November 8, 2012. A public hearing will be held on November 8, 2012 to review and consider approval of the drafts.
The City of Honolulu did not administer its Community Development Block Grant program in accordance with HUD requirements related to cost eligibility and procurement. Specifically, it incurred $15.9 million in unsupported costs by allowing the unnecessary acquisitions of the Hibiscus Hill Apartments ($10 million) and Kaneohe Elderly Apartments ($2.9 million). It also allowed a subrecipient to award a $3.4 million contract to an affiliate of the property owner. The City did not adequately support that the acquisition costs were necessary and reasonable. This noncompliance occurred because the City lacked effective grant administration controls and structures.
The document summarizes Washington state's financial outlook and implications for K-12 funding. It states that the state is facing a $6.1 billion budget deficit for 2009-2011 that may increase to $8.5-9 billion. K-12 education accounts for 41% of the state budget but the Governor's proposed reductions would cut it by 16%. The Governor proposes eliminating COLA for K-12, reducing programs like I-728 and levy equalization, and cutting other funding. Federal stimulus funds may help but will not solve the entire deficit issue. Budget cuts for schools are very likely but may not be as deep as proposed.
The World Bank is proposing a $98.9 million credit to India for the Karnataka Community-Based Tank Management Project. The project will improve rural livelihoods and reduce poverty in Karnataka by developing a community-based approach to managing approximately 2,000 existing tank systems. Key goals include establishing sustainable, self-supporting community institutions to manage local tanks, increasing agriculture production and household incomes, and generating funds for ongoing tank maintenance. The project aims to provide a model for scaling up community-based tank management statewide.
Use of analytics is accelerating, and that means more data-driven decision making and fewer hunches. Evidence-based management complements analytics by adding validated cause-and-effect relationships between policies and effects.
- Paul Gibbons
To sum up: it is wrong always, everywhere, and for anyone, to believe anything upon insufficient evidence.
- William Kingdon Clifford
Mayor Mim McConnell presented the FY14 operating budget to the Greater Sitka Chamber of Commerce. The budget is balanced through cost cutting measures despite increasing expenses and flat revenues. While some services may be reduced, no major services will be eliminated. Infrastructure funding has been cut, which is unsustainable. Future budgets face challenges from rising costs, uncertain funding, and aging infrastructure. The Mayor outlined both short-term projects and long-term planning needed to sustain the city for the future.
The document discusses the Yolanda Project, a $2 billion project formulated by Prof. Del Dimapunong and Global Capital for providing soft loans to local government units affected by Typhoon Yolanda. The project will partner with a locally registered bank to channel the foreign funding and a law office in Tagig City to ensure compliance with Philippine laws on foreign financing for local projects. It will also partner with contractors, lawyers and accountants. The project is based on provisions of the Local Government Code that allow local governments to take out loans and credits for infrastructure and development projects.
The document discusses the Yolanda Project, a $2 billion project formulated by Prof. Del Dimapunong and Global Capital for providing soft loans to local government units affected by Typhoon Yolanda. The project will partner with a locally registered bank to channel foreign funding and a law office in Tagig City to ensure compliance with Philippine laws on foreign financing for local projects. It will also partner with contractors, lawyers and accountants. The project is based on provisions of the Local Government Code that allow local governments to take out loans and avail of credit facilities for infrastructure and socio-economic development projects.
Integrated District Development Vision handbookzubeditufail
The document provides guidance on developing Integrated District Development Visions (IDDVs) in Pakistan. Key points include:
1. IDDVs are long-term development plans for districts that take an integrated approach, addressing environmental and socioeconomic issues.
2. They are required under local governance laws and help coordinate development efforts across different levels of government.
3. The IDDV development process involves consultations with local stakeholders to identify priorities and needs, then drafting the vision document outlining strategies, opportunities, and monitoring frameworks.
The City of Saratoga must update its Housing Element to plan for a significant increase in the number of housing units needed between 2023-2031. The draft regional housing needs allocation from the Association of Bay Area Governments assigns Saratoga a goal of 1,712 new housing units, up from 439 units in the previous period. This draft allocation breaks down units needed by income level: 454 very low income units, 261 low income units, 278 moderate income units and 719 above moderate income units. City staff will work with the City Council to identify adequate sites to meet this goal and submit the updated Housing Element to the state for review and certification by 2023.
This document provides an overview of local governance in Ukraine from 2010-2012. It discusses the legal framework for local governments, their responsibilities and funding sources. Key issues included insufficient funding, failure of the national government to fully fund delegated mandates, and problems in the housing and utilities sector due to low and non-cost-covering tariffs. The document also outlines some reforms needed, such as increasing local budgets, calculating transfers transparently, and reforming the utilities sector.
KUIDFC was incorporated in 1993 as a state government company to implement infrastructure projects in Karnataka's urban areas. It aims to address problems like delays, corruption, and financing capital-intensive projects. A separate institution was needed due to rapid urbanization and the need for an agency to plan projects, access financing, and interface with other organizations. KUIDFC works on services like water, sanitation, and transportation. Municipal finances were insufficient for capital projects, so KUIDFC provides loans and assistance. It is governed by a board of directors appointed by the state government. Projects are financed through public and private sources, with structures depending on the specific project.
This document discusses the history and current state of county highway departments in New York State. It begins by looking back fondly at a time when working for the county provided job satisfaction, security and good retirement benefits. However, it notes that today there are fewer jobs in county government, less security, and declining compensation and benefits. It then examines factors like declining tax revenues, state mandates consuming county budgets, and new policies like "Forward Four" that are impacting highway departments. Representatives from Chemung and Essex counties provide examples of how their departments have adapted by reducing staff, sharing equipment between agencies, and taking on more work in-house. The document emphasizes the challenges faced but also the innovative solutions county highway departments are developing
The agenda provides details for the October 2, 2012 meeting of the Cook County Board of Commissioners. Item 1 requests authorization to accept a $21 million grant from the Illinois Emergency Management Agency for homeland security initiatives. Item 2 requests authorization to extend a $1 million grant for the Cook County Emergency Operations Center. Item 3 proposes honoring the Marian Catholic High School Band.
Approved Amendments to the FY 2013 Cook County Budgetcookcountyblog
This amendment provides $2 million in additional funding for violence prevention, intervention and reduction programs as recommended by the Cook County Violence Prevention, Intervention and Reduction Advisory Committee. It reallocates funding from various departmental budgets including Provident Hospital, Section 1115 Medicaid Waiver Implementation, John H. Stroger Hospital, and Oak Forest Health Center to support these programs through the Public Safety Fixed Charges account.
The document is the 2013 Annual Report for Cook County. It provides summaries of what was accomplished in 2013 across various county departments and offices, including:
- Implementing a performance management program to improve operations and service delivery.
- Economic development initiatives that leveraged over $30 million in funds and created jobs.
- Passing a balanced budget with no tax increases while reducing expenditures by $1.1 billion.
- Expanding healthcare coverage through CountyCare and reducing the taxpayer subsidy for healthcare.
- Mailing property tax bills on time for the second year in a row after decades of delays.
- Launching new public safety programs to reduce pre-trial detainees and community violence.
This document provides performance data for Cook County departments in the second quarter of 2013. It includes budgets, expenditures, goals, and metrics for departments that handle finance and administration, human rights and ethics, justice programs, emergency management, environmental programs, medical examiner services, transportation, animal control, and other countywide services. Departments aim to operate efficiently while achieving goals in areas like public safety, healthcare, taxation, and economic development. The report seeks public feedback on county services and performance.
Investment Opportunity - Indonesia Housing BacklogArief Darmawan
Indonesia faces a substantial housing deficit, with an estimated need for 820,000-920,000 new housing units per year in urban areas to meet population growth. However, only 400,000 units are produced annually by the private sector, leaving a gap of 220,000-370,000 households that must resort to informal housing solutions. Affordability is a key constraint, as high costs, low incomes, and limited access to financing restrict most Indonesians to the informal market. While the government has developed programs to support housing, spending remains too low to have significant impact at the necessary scale.
Current affairs monthly magzine december vajiramVajiram Ravi
Vajiram & Ravi has introduced a new monthly current affairs magazine called ‘The Recitals’, which approaches current affairs through question and answers. ‘The Recitals’ deciphers current affairs in different section necessary for Prelims Current Affairs through Multiple Choice Questions (MCQs), Mains Current Affairs Question & Answers and Interview Current Affairs. The current affairs magazine does not merely provide information, but focuses on the analysis on current issues necessary for the exam.
The notice announces a public hearing and period for public comment on four items: 1) a draft amendment to the 2011 Annual Action Plan for Emergency Solutions Grants funding; 2) a draft amendment to the 2012 Annual Action Plan for Community Development Block Grant and Emergency Solutions Grants funding; 3) a draft revised Citizen Participation Plan; and 4) a draft 2011 Consolidated Annual Performance and Evaluation Report. The public comment period for items 1-3 is October 8 through November 8, 2012 and for item 4 is October 24 through November 8, 2012. A public hearing will be held on November 8, 2012 to review and consider approval of the drafts.
The City of Honolulu did not administer its Community Development Block Grant program in accordance with HUD requirements related to cost eligibility and procurement. Specifically, it incurred $15.9 million in unsupported costs by allowing the unnecessary acquisitions of the Hibiscus Hill Apartments ($10 million) and Kaneohe Elderly Apartments ($2.9 million). It also allowed a subrecipient to award a $3.4 million contract to an affiliate of the property owner. The City did not adequately support that the acquisition costs were necessary and reasonable. This noncompliance occurred because the City lacked effective grant administration controls and structures.
The document summarizes Washington state's financial outlook and implications for K-12 funding. It states that the state is facing a $6.1 billion budget deficit for 2009-2011 that may increase to $8.5-9 billion. K-12 education accounts for 41% of the state budget but the Governor's proposed reductions would cut it by 16%. The Governor proposes eliminating COLA for K-12, reducing programs like I-728 and levy equalization, and cutting other funding. Federal stimulus funds may help but will not solve the entire deficit issue. Budget cuts for schools are very likely but may not be as deep as proposed.
The World Bank is proposing a $98.9 million credit to India for the Karnataka Community-Based Tank Management Project. The project will improve rural livelihoods and reduce poverty in Karnataka by developing a community-based approach to managing approximately 2,000 existing tank systems. Key goals include establishing sustainable, self-supporting community institutions to manage local tanks, increasing agriculture production and household incomes, and generating funds for ongoing tank maintenance. The project aims to provide a model for scaling up community-based tank management statewide.
Use of analytics is accelerating, and that means more data-driven decision making and fewer hunches. Evidence-based management complements analytics by adding validated cause-and-effect relationships between policies and effects.
- Paul Gibbons
To sum up: it is wrong always, everywhere, and for anyone, to believe anything upon insufficient evidence.
- William Kingdon Clifford
Mayor Mim McConnell presented the FY14 operating budget to the Greater Sitka Chamber of Commerce. The budget is balanced through cost cutting measures despite increasing expenses and flat revenues. While some services may be reduced, no major services will be eliminated. Infrastructure funding has been cut, which is unsustainable. Future budgets face challenges from rising costs, uncertain funding, and aging infrastructure. The Mayor outlined both short-term projects and long-term planning needed to sustain the city for the future.
The document discusses the Yolanda Project, a $2 billion project formulated by Prof. Del Dimapunong and Global Capital for providing soft loans to local government units affected by Typhoon Yolanda. The project will partner with a locally registered bank to channel the foreign funding and a law office in Tagig City to ensure compliance with Philippine laws on foreign financing for local projects. It will also partner with contractors, lawyers and accountants. The project is based on provisions of the Local Government Code that allow local governments to take out loans and credits for infrastructure and development projects.
The document discusses the Yolanda Project, a $2 billion project formulated by Prof. Del Dimapunong and Global Capital for providing soft loans to local government units affected by Typhoon Yolanda. The project will partner with a locally registered bank to channel foreign funding and a law office in Tagig City to ensure compliance with Philippine laws on foreign financing for local projects. It will also partner with contractors, lawyers and accountants. The project is based on provisions of the Local Government Code that allow local governments to take out loans and avail of credit facilities for infrastructure and socio-economic development projects.
Integrated District Development Vision handbookzubeditufail
The document provides guidance on developing Integrated District Development Visions (IDDVs) in Pakistan. Key points include:
1. IDDVs are long-term development plans for districts that take an integrated approach, addressing environmental and socioeconomic issues.
2. They are required under local governance laws and help coordinate development efforts across different levels of government.
3. The IDDV development process involves consultations with local stakeholders to identify priorities and needs, then drafting the vision document outlining strategies, opportunities, and monitoring frameworks.
The City of Saratoga must update its Housing Element to plan for a significant increase in the number of housing units needed between 2023-2031. The draft regional housing needs allocation from the Association of Bay Area Governments assigns Saratoga a goal of 1,712 new housing units, up from 439 units in the previous period. This draft allocation breaks down units needed by income level: 454 very low income units, 261 low income units, 278 moderate income units and 719 above moderate income units. City staff will work with the City Council to identify adequate sites to meet this goal and submit the updated Housing Element to the state for review and certification by 2023.
This document provides an overview of local governance in Ukraine from 2010-2012. It discusses the legal framework for local governments, their responsibilities and funding sources. Key issues included insufficient funding, failure of the national government to fully fund delegated mandates, and problems in the housing and utilities sector due to low and non-cost-covering tariffs. The document also outlines some reforms needed, such as increasing local budgets, calculating transfers transparently, and reforming the utilities sector.
KUIDFC was incorporated in 1993 as a state government company to implement infrastructure projects in Karnataka's urban areas. It aims to address problems like delays, corruption, and financing capital-intensive projects. A separate institution was needed due to rapid urbanization and the need for an agency to plan projects, access financing, and interface with other organizations. KUIDFC works on services like water, sanitation, and transportation. Municipal finances were insufficient for capital projects, so KUIDFC provides loans and assistance. It is governed by a board of directors appointed by the state government. Projects are financed through public and private sources, with structures depending on the specific project.
This document discusses the history and current state of county highway departments in New York State. It begins by looking back fondly at a time when working for the county provided job satisfaction, security and good retirement benefits. However, it notes that today there are fewer jobs in county government, less security, and declining compensation and benefits. It then examines factors like declining tax revenues, state mandates consuming county budgets, and new policies like "Forward Four" that are impacting highway departments. Representatives from Chemung and Essex counties provide examples of how their departments have adapted by reducing staff, sharing equipment between agencies, and taking on more work in-house. The document emphasizes the challenges faced but also the innovative solutions county highway departments are developing
The agenda provides details for the October 2, 2012 meeting of the Cook County Board of Commissioners. Item 1 requests authorization to accept a $21 million grant from the Illinois Emergency Management Agency for homeland security initiatives. Item 2 requests authorization to extend a $1 million grant for the Cook County Emergency Operations Center. Item 3 proposes honoring the Marian Catholic High School Band.
Approved Amendments to the FY 2013 Cook County Budgetcookcountyblog
This amendment provides $2 million in additional funding for violence prevention, intervention and reduction programs as recommended by the Cook County Violence Prevention, Intervention and Reduction Advisory Committee. It reallocates funding from various departmental budgets including Provident Hospital, Section 1115 Medicaid Waiver Implementation, John H. Stroger Hospital, and Oak Forest Health Center to support these programs through the Public Safety Fixed Charges account.
The document is the 2013 Annual Report for Cook County. It provides summaries of what was accomplished in 2013 across various county departments and offices, including:
- Implementing a performance management program to improve operations and service delivery.
- Economic development initiatives that leveraged over $30 million in funds and created jobs.
- Passing a balanced budget with no tax increases while reducing expenditures by $1.1 billion.
- Expanding healthcare coverage through CountyCare and reducing the taxpayer subsidy for healthcare.
- Mailing property tax bills on time for the second year in a row after decades of delays.
- Launching new public safety programs to reduce pre-trial detainees and community violence.
This document provides performance data for Cook County departments in the second quarter of 2013. It includes budgets, expenditures, goals, and metrics for departments that handle finance and administration, human rights and ethics, justice programs, emergency management, environmental programs, medical examiner services, transportation, animal control, and other countywide services. Departments aim to operate efficiently while achieving goals in areas like public safety, healthcare, taxation, and economic development. The report seeks public feedback on county services and performance.
In order to improve academic performance and postsecondary outcomes, as well as ensure students are both college and career ready, all students that are participating in STEM Education and Career Pathways should have access to high-quality work-based learning experiences.
These experiences build upon their academic and career interests and provide meaningful and relevant opportunities to demonstrate their skills and knowledge.
The employment landscape is shifting. Education needs to be more relevant to the real world, and resources and investments need to be coordinated in a way that makes sense to industry partners. In order to achieve this, we need complimentary community and state-level approaches for this work. Illinois Pathways was launched in 2012 to respond to the changing education to employment dynamics.
Key Strategies of Illinois Pathways are:
Support local career pathway systems development that empower students to explore their academic and career interests in STEM fields through new and existing community and state networks.
Creation and support of new state-wide, public-private partnerships known as STEM Learning Exchanges that work to create partnerships between schools, industry, state-government, and non-profits which better coordinate investments, resources, and planning in a particular industry cluster.
Illinois Pathways Credentials and Assessments (March 2015)Illinois workNet
Credentials include: degrees; diplomas; credit-bearing, noncredit, and work readiness certificates; badges; professional/ industry certifications; apprenticeships; and licenses—all of which in different ways testify to people’s skills, knowledge, and abilities.
Illinois Pathways Education and Career Pathways March 2015Illinois workNet
Education and career pathways are designed to help students develop skills through a combination of academic, technical, and work-based learning experiences and place them in high-demand careers. The pathways provide a sequence of courses and work experiences from high school to post-secondary education leading to a credential or degree in a specific field. Students can choose a career cluster like health science or manufacturing and see recommended programs, courses, work-based learning opportunities, and credentials needed for different levels of education and training within that field. Labor market data is also provided to help students explore career options within their selected pathway.
The Cook County Board of Commissioners is accepting public comments on four items from October 8, 2012 through November 8, 2012: 1) a draft amendment to the 2011 Annual Action Plan for Emergency Solutions Grants funding; 2) a draft amendment to the 2012 Annual Action Plan for Community Development Block Grant and Emergency Solutions Grants funding; 3) a draft revised Citizen Participation Plan; and 4) a draft 2011 Consolidated Annual Performance and Evaluation Report. A public hearing will be held on November 8, 2012 to review and consider approval of the draft documents.
This document provides an analysis of economic conditions in Cook County, Illinois from 2007-2009. It discusses demographic trends related to population, education, and income. Some key points:
- The population of Cook County declined slightly from 2000-2007 while surrounding counties grew significantly, with Kendall County growing by 77.5%.
- Cook County is home to several major universities and has a population where 28% of adults over 25 have a bachelor's degree or higher.
- The per capita income in Cook County was $45,230 in 2007, ranking 6th in Illinois. However, some townships had per capita incomes under $20,000, meeting the definition of economically distressed.
1. The document discusses how the Chicago region has fallen behind in capitalizing on its existing transit and freight infrastructure to encourage development around those systems. It outlines how Priority Development Areas (PDAs) could help target infrastructure improvements to spur investment in areas designated for infill development in local plans.
2. It describes transit-oriented development and how the Chicago region has planned for such development through hundreds of local plans but faced challenges with slow implementation.
3. The report recommends that PDAs could help standardize funding criteria across public programs to make it easier for communities to bundle funding sources and speed implementation of local development plans around transit.
The estimated contribution of urban area to India’s GDP is approximately 70-75%. Despite the enormous economic contribution, the current state of urban infrastructure is in poor condition. It is estimated that by 2030, an additional $1.2 trillion would be required to provide basic urban services. In this presentation, an attempt has been made to find out the ways to mobilize such a huge financial requirement. The target audience of this presentation includes inter alia urban development and finance professionals, city managers and the general public.
Historic Preservation and the Federal Historic Tax Credit -- Addressing Chall...Patrick790551
This report provides an overview of the federal historic tax credit program and recommendations for modernizing it to address 21st century challenges. The program has successfully rehabilitated over 48,000 historic buildings since 1976, leveraging over $122 billion in private investment. However, changes are needed to improve efficiency and appeal as costs have risen and review processes have not kept pace. The report analyzes survey results on challenges with the National Park Service review and makes recommendations, and also proposes legislative changes to strengthen the program.
The estimated contribution of urban area to India’s GDP is approximately 70-75%. Despite the enormous economic contribution, the current state of urban infrastructure is in poor condition. It is estimated that by 2030, an additional $1.2 trillion would be required to provide basic urban services. In this presentation, an attempt has been made to find out the ways to mobilize such a goliath financial requirement. The target audience of this presentation are inter alia urban development and finance professionals, city managers and general public.
Executive summary Cook County Economic AnalysisJim Boyd
The document provides an executive summary of an economic analysis of Cook County. It finds that while the county saw rapid growth in the 1990s, growth has slowed since 2000. The county population is aging, traditional employment has declined, and average wages have fallen. However, the county also has strengths in tourism and natural amenities that could be leveraged for future economic development through strategies like improving workforce housing, education, high-speed internet access, and business support programs to diversify the economy.
The document provides an overview of the Draft Preferred Scenario for the Plan Bay Area 2040, which establishes a 24-year regional vision for growth and investment. It summarizes the key land use and transportation strategies, which include focusing growth in Priority Development Areas, operating and maintaining the existing transportation system, and modernizing and expanding strategically. While the land use pattern meets environmental goals, it does not fully address the region's affordability issues. The Draft Preferred Scenario allocates over 90% of funds to maintenance and modernization of the existing system.
Gloucester County, Virginia Fy17 adopted budget and Fy17 adopted capital budgetKenneth Hogge Sr
Community
Development
Board of
Supervisors
County
Administrator
Director of
Financial
Services
Human
Resources
County
Attorney
Registrar
Commissioner
of Revenue
Real Estate
Assessment
Information
Technology
Geographic
Information
Systems
Housing
Program
Public Works
Engineering
Buildings &
Grounds
Refuse
Landfill
Health &
Welfare
Health
Department
Mental
Health
Social
Services
Public Safety
Sheriff
Jail
Gloucester county virginia fy17 adopted budget and capital budgetKenneth Hogge Sr
The document provides an overview of Gloucester County, Virginia's approved budget for fiscal year 2017. It includes information on the county's demographics and economy. The budget was awarded the Distinguished Budget Presentation Award by the Government Finance Officers Association for meeting criteria as a policy document, operations guide, financial plan, and communication device. The document also outlines the county's budget development process and calendar, as well as revenue and expenditure details by fund.
Item # 1c - July 13, 2022 Budget WS Minutesahcitycouncil
The City of Alamo Heights held a workshop to discuss the proposed FY 2022-2023 budget. Key points included:
- Addition of two new School Resource Officer positions, reimbursed by the school district.
- A proposed 4% cost of living adjustment for employees.
- Planning for the city's centennial celebration in October 2022.
- Utilizing $1.8 million in federal COVID relief funds for capital projects like vehicles and infrastructure.
- Projected 12% increase in property values which provides over half of general fund revenue through property taxes.
The document is Cook County's 2011 Annual Action Plan which outlines how the county will use Community Development Block Grant (CDBG), HOME Investment Partnerships Program (HOME), and Emergency Solutions Grants (ESG) funding for the year. The plan allocates over $17 million across various housing, homeless, community development, and economic development projects. Specifically, the plan dedicates funding to affordable housing development, homeowner rehabilitation, economic opportunities for low-income residents, homeless shelters, and community facility improvements. The county prioritizes investing funds in the southern region and allocates funding based on Census data of low-income areas and community needs assessments.
Presentation by Somik Lall of the World Bank made at the OECD Regional Development Policy Committee Symposium: Place-based policies: rationale, implementation and policy evaluation, held on 29 October 2020.
More information: http://www.oecd.org/regional/
2 Citizen Guide TABLE OF CONTENTSPWC Proposed FY 2.docxfelicidaddinwoodie
2 Citizen Guide
TABLE OF CONTENTS
PWC Proposed FY 2015 Budget ........................... 3
Strategic Plan ......................................................... 4
Your Tax Dollars At Work ..................................... 5
What Is the County Budget? ................................. 6
General Fund Revenue & Resource Summary...... 7
Where Does the Money Come From? ................... 8
Where Does the Money Go? ................................. 9
Major Budget Changes/Initiatives ...................... 10
How Do PWC Schools Fit In? ............................. 11
Budget Process .................................................... 12
How We Budget In PWC ..................................... 13
PWC Capital Improvement Program (CIP) ....... 14
Get Involved ........................................................ 15
Citizen Guide 3
PWC PROPOSED FY 2015 BUDGET
A Message from the
County Executive
On behalf of Prince William
County staff, I am pleased to
deliver the Prince William County
Executive’s Proposed FY 2015
Budget and the accompanying
2015 – 2019 Five Year Plan. The
Proposed Budget follows the policy
guidance provided by the Board
of County Supervisors (BOCS)
to prepare a balanced budget that
allows for no more than a 2.5%
increase in the average residential
tax bill. The Proposed Budget is
balanced at a tax rate of $1.126
per $100 of value and generates
an average residential tax bill of
$3,499, an $85 increase over the
updated FY 14 average of $3,414.
Through the County’s Strategic
Plan the community has identified
the initiatives they believe will take
us toward our vision and these
choices directed the development
of the Proposed Budget and 2015-
2019 Five Year Plan, within the
overall guidance provided by the
BOCS. The upcoming public
hearings provide the community
with yet another opportunity to
make their voices heard, and the
Our Community
FY 15 Population: 430,959 (includes towns)
Area: 348 Square Miles
Labor force: 230,529 (November 2013)
At-place employment: 117,965 (2nd Qtr. 2013)
Unemployment rate: 4.4% (November 2013)
Households married w. children 2012: 32.4%
Median Household Income 2012: $93,744 (ranked 12th in U.S.)
One-way average commute, 2012: 39.6 minutes (up from 36.9 in 2000)
Adults with college degree, 2012: 44.9%
Average assessed house value,
2013: $289,095 (all houses as of
January 2013)
Average sold house value:
$335,403 (Dec. 2013)
BOCS will once again balance what
the community says they want in
terms of services with what they are
willing to pay for those services to
form the adopted budget.
County staff remains committed
to our vision to do the “right
thing for our customers and the
community every time.” History
shows that when this organization
works together with the Board
and the community to make tough
decisions, our combined efforts
move us toward our adopted vision.
The most recent Community
...
QC Devolution Transition Plan -Final-v1.pdfblossommay
This document presents Quezon City's Devolution Transition Plan which outlines how the city will fully assume devolved functions, services, and facilities from the national government by 2024 per recent Supreme Court ruling. It includes 6 sections: (1) an inventory and assessment of existing devolved functions; (2) a phasing plan for full assumption; (3) a capacity development agenda; (4) proposed organizational structure changes; (5) a local revenue forecast; and (6) performance targets. The plan demonstrates Quezon City's commitment to strengthening decentralization and improving public service delivery at the local level in line with national devolution policies.
The presentation summarized the District of Columbia's approach to affordable and mixed-income housing. It discussed defining affordable housing, population growth driving the need for more units, tools used to finance development like tax incentives and the Housing Production Trust Fund, and innovative programs promoting mixed-use development and tenant ownership. Challenges included slow delivery of inclusionary zoning units due to the economy and lack of staff to monitor affordability requirements. Moving forward, the mayor committed $287 million in additional funding with a goal of producing 10,000 affordable units by 2020.
This document provides a capstone project report prepared for Urban Systems that summarizes key economic trends in the Okanagan Valley over the next 1-2 decades. The report identifies 7 major trends: infrastructure, health, agriculture, tourism, renewable energy, information technology, and forestry. For each trend, the report outlines factors driving changes and opportunities for Urban Systems to capitalize on emerging industries and needs in the region.
Final Amendments to the Cook County Executive Budget Recommendationcookcountyblog
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive function. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms.
Tentative Amendments to the 2014 Executive Budget Recommendationcookcountyblog
This document contains two proposed amendments to Cook County's FY2014 budget. Amendment 1 proposes increasing funding for veterans assistance services by $100,000. Amendment 2 makes various technical adjustments to positions and salaries across multiple county departments while keeping the overall budget impact neutral. Both amendments require approval from the County Board.
The document provides preliminary budget estimates for Cook County, Illinois for fiscal year 2014. It shows that revenues are projected to increase from the 2013 projected year-end amount of $2.262 billion to $2.395 billion in 2014. Expenditures are expected to rise from $2.281 billion in 2013 to $2.547 billion in 2014, resulting in an estimated ending balance shortfall of $152 million. The document includes details on projected revenues and expenditures by department for 2013 and 2014.
Full Report of the Cook County Sustainability Council, 060513cookcountyblog
The Cook County Sustainability Advisory Council recommends that Cook County commit to reducing overall greenhouse gas emissions by 80% by 2050 from 2010 levels. Building energy accounts for two-thirds of greenhouse gas emissions in Cook County, so the Council recommends focusing on reducing emissions from County building energy use by 80% by 2050. The Council also recommends reducing emissions from transportation, waste, water, and other sectors like refrigerants and information technology. Establishing sustainability targets and reporting annually on progress will help ensure accountability.
Executive Summary of Cook County Sustainability Advisory Report, 060513cookcountyblog
The document provides a summary and recommendations from the Cook County Sustainability Advisory Council. It finds that building energy accounts for 67% of greenhouse gas emissions in Cook County. It recommends that Cook County establish an overall goal of reducing greenhouse gas emissions by 80% by 2050. It also recommends Cook County focus first on reducing emissions from building energy through energy efficiency improvements in county facilities. These recommendations are aimed at helping Cook County become more environmentally, socially and economically sustainable while saving money for taxpayers.
This document provides a 10 step guide for uploading datasets to data.cookcountyil.gov. It describes what types of datasets to upload, how to prepare the data by formatting files as CSV, XLS or XLSX, how to log in and upload the files, set import rules and metadata, preview and publish the dataset, and how to later update it by appending or replacing new data. The goal is to share meaningful county department performance data with the public in a consistent format.
The document presents an Economic Growth Action Agenda for Cook County with the goal of promoting regional economic growth. It analyzes Cook County's role in the regional economy, assets, challenges, and opportunities. Based on this analysis, it identifies nine priority strategies for Cook County to support economic growth through its governmental capacities. The strategies focus on increasing government transparency and efficiency, encouraging intergovernmental efficiencies through shared services, and boosting regional strategic capacity for coordinated economic development initiatives. The strategies aim to align Cook County's efforts with other regional economic plans.
The document provides contact information for various warming centers located throughout Cook County, Illinois townships. It lists each township's warming center name, hours of operation, address, contact phone numbers for transportation assistance during operating hours and after hours police department numbers. It encourages residents to contact centers before trying to gain entry to determine if they are open, to prevent anyone in need from being unable to access assistance.
The document provides information from various agencies regarding weather, transportation, and emergency preparedness. It summarizes a BMW recall notice from the NHTSA and provides tips for preparing for winter storms, such as stocking emergency supplies. It also lists upcoming holidays, observances, and local events over the next month and provides links to monitor space weather, earthquakes, and road conditions.
2012 Cook County Government Midterm Reportcookcountyblog
The Cook County Annual Report 2012 provides information on the county's performance and initiatives over the past year across various departments. It discusses establishing a performance management program called STAR to increase transparency and accountability, and generate savings. It also outlines efforts to promote economic development through various financing programs, improve healthcare services and reduce costs, enhance property tax collection processes, and invest in public safety through grants and community programs.
The document is an executive summary for the Oak Forest Heritage Preserve Master Plan. It provides an overview of the planning process, site analysis findings, and vision for the preserve. Key points include restoring the ecological landscape and water management, showcasing the rich cultural history dating back thousands of years, and improving recreation amenities while preserving natural and cultural resources. Archaeological investigations uncovered artifacts from Native American settlements and evidence of the site's long human occupation.
Cook County Government Budget Fy2013 Tentative Amendmentscookcountyblog
This amendment proposes reducing projected revenue estimates for certain taxes in FY2013. It decreases the projected Non-Titled Use Tax revenue by $1.2 million, Gambling Machine Tax revenue by $100,000, and Firearms Tax revenue by $400,000, for a total reduction of $1.7 million. These changes would amend the revenue estimates in the President's Executive Recommendation for FY2013.
This is the same document used by President Preckwinkle and senior administration officials when discussing the 2013 Budget Recommendation with newspaper Editorial Boards.
The bottom rendering shows the proposed improvements. Roadway will be widened and repaved; left turn or painted medians will be added; guardrail and curb and gutter added.
Forest Preserve District Executive Summary of Oak Forest Heritage Preserve Ma...cookcountyblog
The document is an executive summary of the Oak Forest Heritage Preserve Master Plan. It provides an overview of the planning process, site analysis findings, and vision for the preserve. Key points include:
1) The plan aims to restore ecology, improve water management, provide recreation, and showcase the rich cultural history spanning millennia.
2) Site analysis found remnants of historic vegetation, archaeological evidence of Native American settlement, and a history of use as a poor farm and hospital campus.
3) The vision is to transform the property into an accessible preserve that is ecologically and culturally rich, with restoration, recreation, and interpretation.
Justice Advisory Council Bond Report, 7/12/2012cookcountyblog
The Justice Advisory Council examined Cook County's bond court procedures from January to June 2012. They found that the main issues were the reliance on a paper-based system and lack of physical space for interviews. As a result, key stakeholders agreed to implement electronic arrest reporting by 6 AM and improve interview facilities. A new "Motion to Reconsider" process was also established to help verify information for those detained who could not post low bonds. The Council will continue monitoring progress on these recommended improvements.
Best practices for project execution and deliveryCLIVE MINCHIN
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The global retail industry has weathered numerous storms, with the financial crisis of 2008 serving as a poignant reminder of the sector's resilience and adaptability. However, as we navigate the complex landscape of 2024, retailers face a unique set of challenges that demand innovative strategies and a fundamental shift in mindset. This white paper contrasts the impact of the 2008 recession on the retail sector with the current headwinds retailers are grappling with, while offering a comprehensive roadmap for success in this new paradigm.
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1. County of Cook, Illinois
DRAFT FOR PUBLIC REVIEW/COMMENT
SECTION 108 LOAN GUARANTEE
PROGRAM APPLICATION FOR THE
BUILT IN COOK LOAN FUND
(Broadening Urban Investment to Leverage Transportation)
(Anticipated Submittal - September 28, 2012)
Toni Preckwinkle, President
Cook County Board of Commissioners
Prepared by: The Department of Planning and Development of the
Bureau of Economic Development
2. TABLE OF CONTENTS
SUMMARY
APPLICATION NARRATIVE
Administering Agency 3
Geographic and Demographic Characteristics 3
Economic Development Challenges and Opportunities 4
Section 108 Strategy: Priming Cook County’s Economic Development Pump 6
Introduction
Funding Request
Target Area
National Objectives and Public Benefit Standards
Performance Measurement Framework
Eligible Uses and Potential Projects
Administrative Capacity
Resources Leveraged
Project Selection
Underwriting
Collateral
Repayment
Stakeholder Consultation and Citizen Participation Process 16
REQUIRED FORMS
SF 424 Application for Federal Assistance TBD
Certifications TBD
STAKEHOLDER CONSULTATION AND CITIZEN PARTICIPATION
Community Development Advisory Council (CDAC) Public Hearing TBD
Notices
Minutes
Cook County Board of Commissioners Public Hearing TBD
Notices
Resolution
Public Comments and Cook County Responses TBD
SUPPLEMENTAL DOCUMENTATION
Substantial Amendment to the 2010-2014 Consolidated Plan TBD
2010-2014 Consolidated Plan Jurisdiction Map TBD
2
3. SUMMARY
The County of Cook (“County”) seeks to establish a loan pool not to exceed $30 million under the Section 108 Loan
Guarantee Program administered by the U.S. Department of Housing and Urban Development (HUD) under 24 CFR
570, Subpart M – Loan Guarantees. These funds, if approved, will be utilized throughout suburban Cook County
under a range of eligible activities targeted to support development, businesses, and low/moderate-income
households and deliver positive economic benefits for the County. This document, consisting of a narrative as well
as required attachments, constitutes the formal application to HUD for Section 108 Loan Guarantee funds. It is
being submitted to HUD concurrently with a related Substantial Amendment to the 2010-2014 Consolidated Plan.
APPLICATION NARRATIVE
ADMINISTERING AGENCY
The County of Cook currently receives Community Development Block Grant (CDBG), Emergency
Solutions Grant (formerly known as the Emergency Shelters Grant) (ESG), and HOME Investment
Partnerships Program (HOME) funding on an annual entitlement basis from the U.S. Department of
Housing and Urban Development (HUD). The County is governed by the County Board President and
the 17-member Board of Commissioners, who are elected to a four-year term. The President and
Board approve all HUD-funded projects. The Community Development Advisory Council (CDAC) also
reviews and approves proposed projects prior to Board review. The Department of Planning and
Development within the newly formed Bureau of Economic Development (formerly known as the
Bureau of Community Development) is the designated agency administering HUD funds on behalf of
Cook County.
The mission of the Bureau is to: “foster economic development and job growth within Cook County to
promote sustainable community investment, business growth, attraction, and retention, affordable
housing, regional planning, and workforce development”. In addition to the Department of Planning
and Development, the Bureau includes the following departments: Capital Planning and Policy, Real
Estate Management, Building and Zoning, and Cook County Works (which is currently transitioning to
the Chicago Cook Workforce Partnership).
The mission of the Department of Planning and Development is to develop sustainable and vibrant
urban communities by: “fostering economic opportunities and business development, preserving and
expanding the supply of decent, affordable housing, promoting fair housing, and supporting programs
that address the problems of homelessness.”
GEOGRAPHIC AND DEMOGRAPHIC CHARACTERISTICS
The County is located in northeastern Illinois and encompasses 132 incorporated municipalities
including the City of Chicago and suburban communities that account for approximately 85 percent of
the County’s 946 square miles. Within the remaining 15 percent of unincorporated land, unincorporated
suburban areas represent 6.5 percent of the County’s land area and 2 percent of its total population.
There are efforts underway to consolidate unincorporated areas with adjacent municipalities to more
effectively utilize local resources. Cook County is the most populous county in the State of Illinois and
ranks second nationwide. It is the economic and cultural hub of the state and represents approximately
42 percent of the state’s economic activity.
3
4. ECONOMIC DEVELOPMENT CHALLENGES AND OPPORTUNITIES
The “Great Recession” Undermines Residents’ Quality of Life
Since adoption of Cook County’s 2010-2014 Consolidated Plan, economic conditions within the County
have deteriorated significantly. The “Great Recession” has negatively impacted the lives of countless
County residents and their families. The County’s Consolidated Plan was adopted on August 15, 2010
and is heavily reliant on data from the 2000 U.S. Decennial Census. More recently released data from
the 2010 Decennial Census and the annual American Community Survey (ACS) illustrate the economic
toll of the downturn.
Cook County’s median household income, for example, declined from $60,091 in 1999, to $53,406 in
2009, to $51,466 in 2010. This reflects a percentage decrease of 14 percent in eleven years, more than 1
percent per year.i Unemployment is still almost twice the 2000 rate of 5 percent, though it recently
dropped from 11.8 percent in 2010 to 9.5 percent in 2012.ii Job creation since 1990 has significantly
lagged behind the Chicago metropolitan area and the nation.iii
The poverty rate in the County has increased steadily from 13.5 percent in 1999, to 15.9 percent in
2009, to 16.7 percent in 2010.iv Poverty rates have increased every year from 2007 to 2010.v According
to the 2006-2010 ACS, that figure increases to 37.3 percent for female heads of household with related
children under 18 years.vi
The severity of Cook County’s housing crisis has received national attention. The New York Times cited
RealtyTrac’s report that metropolitan Chicago area has the nation’s largest inventory of foreclosed
property, with more than 118,776 homes in May 2011 that were either owned by banks or were in
foreclosure because the owners could no longer afford their monthly mortgage payments.vii According
to RealtyTrac, 69,103 homes were in foreclosure in July, 2012.viii By 2010, the median home value in
Cook County had dropped 14 percent to $244,000 from $281,000 in 2007.ix The collapse of the
homeownership market has produced a tighter rental environment for the four out of ten residents
(41.8 percent) who do not own their home.x
Challenges to Regional Economic Recovery
Cook County’s economy is undergoing demonstrable shifts in the employment sector with a shift toward
management and service jobs, and away from sales and production. Based upon the 2010 Census,
service and management/ professional occupations grew by 4 and 2.4 percent respectively while
declines characterized the production/transportation/material moving (-2.6 percent) and
construction/extraction sectors (-.7 percent). xi
The percentage of jobs in education, health, and social services increased from 2007 to 2010. Food
services and hospitality workers in Cook County remained stable during the period while manufacturing,
a historic cornerstone of the County’s economy, trended downward from a high of 11.7 percent in 2007
to 10.7 percent in 2010.xii Construction remained a small part of the overall workforce but declined from
6 percent in 2007 to 4.7 percent in 2010, a decline produced largely by stagnant real estate markets.xiii
The Chicago Metropolitan Agency for Planning (CMAP) identifies freight and logistics as a priority sector
for the region’s economy and cites that the Chicago metropolitan terminal ranked as the top western
hemisphere port when measured by the 12.85 million twenty foot equivalent unit (TEU) containers
processed here. Metropolitan Chicago’s freight cluster accounts for 204,350 jobs or 4 percent of the
region’s total employment. Over the last decade, this cluster has grown by 7 percent, considerably faster
4
5. than the average for all other occupations. The bulk of the transportation, real estate and human assets
essential to this industry cluster—six Class I railroads, 21 rail-to-truck intermodal facilities, eight
interstate highways, a connected network of truck routes, sufficient vacant and/or underutilized land for
redevelopment and a ready workforce—are all concentrated in Cook County.
Cook County is part of the Chicago Metropolitan Statistical Area (MSA), as defined by the U.S. Census
Bureau. The Chicago MSA includes fourteen counties—DeKalb, DuPage, Grundy, Kane, Kendall, Lake,
McHenry, and Will counties in Illinois; Jasper, Lake, Newton, and Porter counties in Indiana, and Kenosha
County in Wisconsin. Its population of 9.6 million (2009 estimate) makes it the third most populous MSA
in the nation.xiv
Recently completed economic analysis reveals that since 2000, the 14-county Chicago metropolitan
region’s Gross Regional Product (GRP) failed to keep pace with the nation—producing a “lost decade”
that complicates economic recovery. These changed circumstances have disproportionately affected
low- and moderate-income suburban communities and necessitate the development of new tools and
mechanisms to prime Cook County’s economic development pump.xv
SECTION 108 STRATEGY: PRIMING COOK COUNTY’S ECONOMIC DEVELOPMENT PUMP
Introduction
The County will use the Section 108 Loan Pool, in accordance with 24 CFR 570, Subpart M – Loan
Guarantees, to fund projects located within suburban Cook County that provide clear economic and
community development benefits to low- and moderate-income persons and their communities. The
Section 108 Loan Pool will represent a new tool that the County can use to support economic
development efforts in targeted slow growth areas with market potential as well as in stronger market
areas where new jobs will be made available to low- and moderate-income residents. Funds will be
utilized to support a wide range of CDBG-eligible activities contingent upon evolving local needs, and
available resources.
The County is concurrently submitting a proposed Substantial Amendment to the 2010-2014
Consolidated Plan to HUD to allow for broader economic development uses of funds including Section
108 financing. Specifically, Section 108 Loan Guarantee financing will enable Cook County to support
large scale projects and activities on an accelerated timeline not feasible with current resources for a
broader economic development impact including support to sustain and grow local businesses as well as
create and retain jobs for low- and moderate-income persons.
The Cook County Section 108 Loan Guarantee, if HUD-approved, will support the BUILT (Broadening
Urban Investment to Leverage Transportation) in Cook Loan Fund.
Funding Request
Cook County may apply for Section 108 Loan Guarantee funds up to five times its current approved
Community Development Block Grant (CDBG) entitlement allocation. The County is currently requesting
$30 million in Section 108 Loan Guarantee funds, in accordance with 24 CFR 570, Subpart M – Loan
Guarantees, to establish a loan pool. The requested amount is less than the maximum allowable.
5
6. Target Area
Section 108 Loan Guarantee funds will be restricted for the benefit of the current suburban community
membership of the Cook County Urban County. Communities currently opting out of the Urban County
will be ineligible for assistance. Presently, the Urban County includes all suburban municipalities under
50,000 in population, unincorporated areas, and the City of Chicago Heights. The City of Chicago and
City of Evanston receive significant CDBG entitlement fund allocations direct from HUD and are unlikely
to join the Cook County Urban County. Under an initiative jointly led by HUD Region V and Cook County
executive leadership, efforts are currently underway to solicit the addition of the following communities
to the Urban County: Arlington Heights, Des Plaines, Hoffman Estates, Mount Prospect, Oak Lawn, Oak
Park, Palatine, Schaumburg, and Skokie.
National Objectives and Public Benefit Standards
In accordance with HUD’s CDBG regulatory requirements at 24 CFR 570 including 24 CFR 570, Subpart M
– Loan Guarantees, all Section 108 funded activities will be based upon the “benefit to low- and
moderate-income persons” or “LMI” national objective, also known as the “primary” national objective.
As such, at least seventy (70) percent of CDBG funds including Section 108 dollars will be utilized to the
benefit of low- and moderate-income persons. The County will employ one of the following allowable
national objective activity subcategories as applicable by eligible activity type:
Low/Mod Area Benefit (LMA) - Activity will benefit all residents in a particular area, where at least 51
percent of the residents are LMI persons
Low/Mod Limited Clientele (LMC) - At least 51 percent of the beneficiaries of the activity have to be LMI
persons
Low/Mod Job Creation/Retention (LMJ) – Activity will create or retain permanent jobs, at least 51
percent of which (computed on a full-time equivalent basis) will be made available to or held by LMI
persons
Performance Measurement Framework
In accordance with HUD’s performance measurement framework, all Section 108 funded activities will
be based upon the “economic opportunity” objective as well as the related outcome of “improved
availability/accessibility” as noted below:
Objectives/Outcomes Availability Accessibility Sustainability
Economic $30,000,000 $0 $0
Opportunities
Utilizing the 24 CFR 570.209(b) CDBG public benefit standard of $50,000 required to create or retain a
single full-time equivalent, permanent job, it is anticipated that the proposed Section 108 Loan
Guarantee financing will create at least 600 jobs. If HUD approves a lesser amount of Section 108 Loan
Guarantee funds, this goal will be adjusted proportionally.
Eligible Uses and Potential Projects
The County is proposing a broad use of Section 108 financing based upon various eligible activities
provided they meet the requirements of 24 CFR 570 including 24 CFR 570, Subpart M – Loan
Guarantees. The County understands that guaranteed loan funds may not be used to reimburse the
CDBG program account or line of credit for costs it has previously incurred and paid with CDBG grant
funds or program income.
6
7. In addition to the eligible uses outlined below related to specific project types, the County may also
utilize Section 108 funds for the following purposes:
§570.703(c): Payment of interest on obligations guaranteed under this subpart.
§570.703(g): Payment of issuance, underwriting, servicing, trust administration and other costs associated with private
sector financing of debt obligations under this subpart.
§570.703(k): A debt service reserve to be used in accordance with requirements specified in the contract entered into
pursuant to §570.705(b)(1).
The Section 108 loan pool investment strategy will be built around four forms of urban development
that make for a more sustainable approach for capturing growth:
Transit-Oriented Development (TOD), which is generally accepted to be more compact
mixed use development within a half mile of passenger rail service that allows households
to spend less on transportation by reducing the number of cars owned and how far they are
driven;
Cargo-Oriented Development (COD), which is the freight rail counterpart to TOD that
aggregates logistics providers, warehouse and distribution facilities, and freight-dependent
manufacturers around the rail-to-truck intermodal terminals that are capturing an
increasing share of goods moving across the U.S.;
Mixed-Use Hospitality and Service Sector Developments, accessible by transit are known
job creators that cater to both residents and the out-of-town tourist trade;
Business Development Loans, for business start-ups and/or expansions.
Following are descriptions of six project types that the County expects to include in its Section 108 Loan
Pool. Any projects selected by the County shall meet underwriting criteria including project readiness,
proven development capacity, and anticipated completion within a reasonable time frame from the
approval date.
Transit-Oriented Development (TOD): The vast majority of the 384 train stations in the Chicago
region—306—are located in Cook County and provide the foundation for a countywide strategy to
foster more sustainable growth. The Chicago Transit Authority (CTA), the region’s rapid transit operator,
along with Metra, the metropolitan area’s commuter rail provider, offer passenger service at 108
stations located in suburban Cook.xvi Suburban Cook County contains numerous rail stations that are ripe
for redevelopment as the more densely developed mixed-use districts typical of TOD. While many
communities have station area plans, only a small percentage of municipalities with such plans have
successfully translated their blueprints into buildings. A Section 108 guarantee and/or loan can provide
the added security and gap financing to enable a greater number of communities to implement their
plans.
TOD Project Type Eligibility Citations:
§570.703(a): Acquisition of improved or unimproved real property in fee or by long-term lease, including acquisition for economic
development purposes.
§570.703(b): Rehabilitation of real property owned or acquired by the public entity or its designated public agency.
7
8. §570.703(d): Relocation payments and other relocation assistance for individuals, families, businesses, nonprofit organizations, and
farm operations who must relocate permanently or temporarily as a result of an activity financed with guaranteed loan funds, where
the assistance is required under the provisions of §570.606(b) or (c); or determined by the public entity to be appropriate under the
provisions of §570.606(d).
§570.703(e): Clearance, demolition, and removal, including movement of structures to other sites and remediation of properties
with known or suspected environmental contamination, of buildings and improvements on real property acquired or rehabilitated
pursuant to paragraphs (a) and (b) of this section. Remediation may include project-specific environmental assessment costs not
otherwise eligible under §570.205.
§570.703(f): Site preparation, including construction, reconstruction, installation of public and other site improvements, utilities or
facilities (other than buildings), or remediation of properties (remediation can include project-specific environmental assessment
costs not otherwise eligible under §570.205) with known or suspected environmental contamination, which is: related to the
redevelopment or use of the real property acquired or rehabilitated pursuant to paragraphs (a) and (b) of this section, or for an
economic development purpose.
§570.703(l): Acquisition, construction, reconstruction, rehabilitation or historic preservation, or installation of public facilities
(except for buildings for the general conduct of government) to the extent eligible under §570.201(c), including public streets,
sidewalks, other site improvements and public utilities, and remediation of known or suspected environmental contamination in
conjunction with these activities. Remediation may include project-specific environmental assessment costs not otherwise eligible
under §570.205.
Cargo-Oriented Development (COD): Both the south and west suburbs of Cook County boast the basic
building blocks that are critical to infill COD. In the south, development sites are larger and the planned
expansion of Canadian National’s Gateway Terminal in Harvey holds the potential for serving as a
private stimulus for the coordinated construction of related and/or freight-dependent businesses that
tend to co-locate around rail intermodal facilities. West Cook, in contrast, has a stronger industrial base
still in place so that redevelopment opportunities are of a smaller scale. Both sub-regions offer the
prospect of implementing TOD and COD as tandem strategies for community revitalization since the
passenger trains that serve them operate along freight rail corridors. South Suburban Mayors and
Managers Association (SSMMA), with help from the Center for Neighborhood Technology (CNT), has
prepared the Green TIME Zone framework plan to identify and implement priority TOD and COD
projects in conjunction with a scattered site logistics park, a foreign trade zone, and possibly, a U.S.
Customs House. The West Central Municipal Conference is at an early stage of developing a comparable
plan for West Cook also with CNT assistance.
COD Project Type Eligibility Citations:
§570.703(a): Acquisition of improved or unimproved real property in fee or by long-term lease, including acquisition for economic
development purposes.
§570.703(b): Rehabilitation of real property owned or acquired by the public entity or its designated public agency.
§570.703(d): Relocation payments and other relocation assistance for individuals, families, businesses, nonprofit organizations, and
farm operations who must relocate permanently or temporarily as a result of an activity financed with guaranteed loan funds, where
the assistance is required under the provisions of §570.606(b) or (c); or determined by the public entity to be appropriate under the
provisions of §570.606(d).
§570.703(e): Clearance, demolition, and removal, including movement of structures to other sites and remediation of properties
with known or suspected environmental contamination, of buildings and improvements on real property acquired or rehabilitated
pursuant to paragraphs (a) and (b) of this section. Remediation may include project-specific environmental assessment costs not
otherwise eligible under §570.205.
§570.703(f): Site preparation, including construction, reconstruction, installation of public and other site improvements, utilities or
facilities (other than buildings), or remediation of properties (remediation can include project-specific environmental assessment
costs not otherwise eligible under §570.205) with known or suspected environmental contamination, which is: related to the
8
9. redevelopment or use of the real property acquired or rehabilitated pursuant to paragraphs (a) and (b) of this section, or for an
economic development purpose.
§570.703(l): Acquisition, construction, reconstruction, rehabilitation or historic preservation, or installation of public facilities
(except for buildings for the general conduct of government) to the extent eligible under §570.201(c), including public streets,
sidewalks, other site improvements and public utilities, and remediation of known or suspected environmental contamination in
conjunction with these activities. Remediation may include project-specific environmental assessment costs not otherwise eligible
under §570.205.
Advanced and/or Green Manufacturing: Converting established industrial plants and their skilled “blue”
workforce to advanced “green” manufacturing is a high priority of Cook County. A development strategy
that focuses on specific industry clusters will help advance regional specializations, support long term
growth, and promote regional prosperity. Industry clusters of particular importance to Cook County
include freight/logistics, advanced manufacturing, and biomed/biotech. The developing cluster of green
energy/technology businesses and institutions will be fundamental to facilitating economic growth.
Special emphasis will be placed upon projects with “green” or other innovative features for “value-
added” manufacturing operations.
Commercial/Retail Development: Prospective tenants of a hotel/commercial/ office development may
need Section 108 guarantee assistance to complete tenant improvements to occupy the space.
Hotel/commercial/office developers tend to be large job generators, particularly of lower-skilled
positions. Mixed-use jobs, which include transportation, retail, and commercial services, professional
services, arts and entertainment, and healthcare provide a wide range of salaries starting at $15,000 for
service workers and up to $100,000 for professionals with the average estimated at $27,900 ($14
hourly) in 2005 dollars.xvii
Manufacturing & Commercial/Retail Development Project Type Eligibility Citations:
§570.703(e): Clearance, demolition, and removal, including movement of structures to other sites and remediation of properties
with known or suspected environmental contamination, of buildings and improvements on real property acquired or rehabilitated
pursuant to paragraphs (a) and (b) of this section. Remediation may include project-specific environmental assessment costs not
otherwise eligible under §570.205.
§570.703(f): Site preparation, including construction, reconstruction, installation of public and other site improvements, utilities or
facilities (other than buildings), or remediation of properties (remediation can include project-specific environmental assessment
costs not otherwise eligible under §570.205) with known or suspected environmental contamination, which is: related to the
redevelopment or use of the real property acquired or rehabilitated pursuant to paragraphs (a) and (b) of this section, or for an
economic development purpose.
§570.703(l): Acquisition, construction, reconstruction, rehabilitation or historic preservation, or installation of public facilities
(except for buildings for the general conduct of government) to the extent eligible under §570.201(c), including public streets,
sidewalks, other site improvements and public utilities, and remediation of known or suspected environmental contamination in
conjunction with these activities. Remediation may include project-specific environmental assessment costs not otherwise eligible
under §570.205.
Site Improvements/Industrial Development: Infrastructure improvements to facilitate redevelopment
of a significant mixed industrial/office park and/or TOD districts may be necessary to entice private
developers to undertake job generation and business attraction projects. Because many of the sites that
are prime for redevelopment as TODs or CODs have been previously occupied by businesses, they must
be assessed for environmental contamination and the condition of the underpinning infrastructure.
9
10. Site improvements/Industrial Development Project Type Eligibility Citations:
§570.703(e): Clearance, demolition, and removal, including movement of structures to other sites and remediation of properties
with known or suspected environmental contamination, of buildings and improvements on real property acquired or rehabilitated
pursuant to paragraphs (a) and (b) of this section. Remediation may include project-specific environmental assessment costs not
otherwise eligible under §570.205.
§570.703(f): Site preparation, including construction, reconstruction, installation of public and other site improvements, utilities or
facilities (other than buildings), or remediation of properties (remediation can include project-specific environmental assessment
costs not otherwise eligible under §570.205) with known or suspected environmental contamination, which is: related to the
redevelopment or use of the real property acquired or rehabilitated pursuant to paragraphs (a) and (b) of this section, or for an
economic development purpose.
§570.703(l): Acquisition, construction, reconstruction, rehabilitation or historic preservation, or installation of public facilities
(except for buildings for the general conduct of government) to the extent eligible under §570.201(c), including public streets,
sidewalks, other site improvements and public utilities, and remediation of known or suspected environmental contamination in
conjunction with these activities. Remediation may include project-specific environmental assessment costs not otherwise eligible
under §570.205.
Business Development Loans: The tightening of credit associated with the Recession has made financing
for business start-ups and expansions of small to mid-size firms difficult. Section 108 loan funds will be
made available to new and expanding companies that are forecasted to create living wage jobs for low-
and moderate-income residents of Cook County. Cook will promote these enterprise development loans
to industry clusters such as transportation, logistics, warehouse and distribution; food processing; and
metal manufacturers in which Cook County demonstrates stronger performance than the nation.
Business Development Project Type Eligibility Citations:
§570.703(i): The following economic development activities: activities eligible under §570.203; and community economic
development projects eligible under §570.204.
Administrative Capacity
As a long-term HUD formula grantee, Cook County has significant experience managing affordable
housing and community development programs and projects. The Bureau of Economic Development
along with the County as a whole, under new and innovative leadership continues to work to strengthen
internal and external capacity. Towards this end, existing staff across all programs and at all levels
continue to participate in training provided by HUD, the National Development Council (NDC), and
others.
Recognizing the need to improve internal underwriting capacity, Cook County intends to supplement
existing staff resources with contractual support until program demand and the related project pipeline
are clarified in the context of local market conditions. If the Section 108 Loan Guarantee financing is
approved, it is anticipated that related underwriting will be outsourced to the most qualified and
capable firm or firms in the short term until such time when loan demand justifies having that capacity
as a part of County government. Exploration of potential contractual providers is currently in process. All
administrative costs associated with the Section 108 Loan Guarantee will be supported by a combination
of Cook County corporate dollars as well as CDBG administrative funds (within the regulatory cap) as
available and eligible. Loan origination fees as well as receipted program income will also support
administrative costs only as allowable under the program.
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11. Resources Leveraged
The Section 108 Loan Pool will be another tool to continue to leverage private investments and support
public-private partnerships that benefit the targeted geographic areas and the County as a whole.
Where possible, Cook County will leverage existing Emergency Solutions Grant (ESG) (formerly known as
Emergency Shelters Grant), HOME Investment Partnerships Program (HOME), and Neighborhood
Stabilization Program (NSP) funds. Specifically, CDBG funds may be utilized as seed capital in sustainable
development funds for economic development purposes.
Recently, Cook County approved a Land Bank Advisory Committee which has been charged with
reviewing the feasibility of creating a Cook County Land Bank, a critical tool to help combat the
foreclosure crisis, bring vacant property back to productive use, and eradicate blight. The committee is
tasked with advising the County regarding a responsible, legal, and effective model as well as the
potential budget, target areas, and scope of service for a Land Bank entity. The committee will also
evaluate methods and recommend initiatives to market existing tax incentives in conjunction with
broader strategies for community revitalization and economic growth. It is anticipated that the Land
Bank initiative will be eligible for support under the Section 108 loan pool and will further leverage
dollars for broader community impact.
Cook County also hopes to support and supplement ongoing efforts related to the implementation of a
$2.4 million Sustainable Communities Challenge Grant awarded to the South Suburban Mayors and
Managers Association (SSMMA) by HUD in October 2010. This inter-jurisdictional collaborative
approach, spearheaded by SSMMA in conjunction with the Chicago Southland Housing and Community
Development Collaborative and the Chicago Southland Economic Development Corporation (CSEDC),
promotes a comprehensive redevelopment strategy linking economic development, affordable housing,
and transportation.
The County will also work in coordination with another HUD Challenge Grant recipient in the western
suburbs. The Village of Oak Park, on behalf of the West Cook County Housing Collaborative, a multi-
jurisdictional effort of 5 municipalities, which is using its $2.9 million grant to further TOD along its rail
corridors and establish a TOD fund.
Cook County also continues to seek competitive grant dollars to supplement existing funding including a
recent joint submission to HUD along with the Housing Authority of the County of Cook (HACC) for a
Choice Neighborhoods Planning Grant targeting a former public housing site in south suburban Robbins.
Project Selection
Similar to the existing process for CDBG funding, prospective funding applications will be reviewed upon
the basis of weighted scoring criteria and related funding recommendations will be submitted for review
and approval by both the CDAC and Board of Commissioners. However, Section 108 loan pool funding
requests will be accepted by the County on a rolling basis as development cycles can vary. Upon HUD
approval of the proposed Section 108 Loan Guarantee, Cook County will proceed to solicit applications.
Depending upon timing, notice of funding recommendations will be transmitted to HUD either via a
Substantial Amendment to the 2012 Annual Action Plan or through the standard submittal of the 2013
Annual Action Plan.
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12. At a minimum, Cook County will evaluate Section 108 loan pool funding requests based upon the
following criteria:
Project costs are reasonable;
All sources of project financing are committed;
To the extent practicable, funds are not substituted for non-federal financial support;
Project is financially feasible;
To the extent practicable, the return on the owner’s equity investment will not be unreasonably
high; and
To the extent practicable, funds are disbursed on a pro rata basis with other finances committed
to the project
Upon HUD approval, Cook County will more fully develop and implement additional evaluation criteria
related to assessment of market demand and capacity, development capacity, and project readiness.
Financing via the County’s Section 108 loan pool will be restricted to 5 percent or less in gap financing
per project.
Underwriting
Preliminary underwriting standards are outlined below:
Proposed costs
The analysis will compare estimated development costs to costs of similar properties. Also, the analysis
will determine whether estimated development costs have been prepared by a credible third party such
as a contractor or other cost estimator. Finally, the County’s loan commitments for financing
construction or rehabilitation will be conditioned on a final guaranteed maximum price (GMP) contract
for development within the proposed budget.
Commitment of Funds
Projects seeking Section 108 loans should have commitments of construction and permanent financing.
If private financing includes a right to adjust the interest rate after a certain point in time, the County
may not permit the loan. Loan documents should contain adequate lender protections (e.g., default and
cure privileges) for the County, subject to reasonable conditions of other lenders having priority over the
Section 108 loan.
Need for Public Assistance
The analysis will determine whether the project can be developed feasibly with private financing alone
or, in fact, requires public financial assistance to make the development feasible. The County will
examine the reasonableness of a for-profit developer’s fee compared to market rates and will cap at ten
percent. If the for-profit developer has an ownership stake in the project, the County will also examine
the reasonableness of the developer’s return under cash on cash return and internal rate of return
(“IRR”). Cash on cash return measures the developer’s cash return on a cash investment (i.e., cash flow
÷ equity). IRR measures the rate at which the developer’s investment grows over a long term period,
taking into account periodic cash flows and property appreciation. As part of such analysis, an excessive
developer fee/return may be put back into the project in the form of additional equity and/or additional
reserves.
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13. Financial Feasibility
The analysis will identify the primary, secondary and, where considered necessary, tertiary sources of
repayment for the loan. Key repayment risks will be analyzed in detail, including an analysis of project
financial assumptions compared to actual market conditions. In the case of real estate, the analysis will
compare the anticipated lease rate to similar properties. Also, the analysis will compare anticipated
vacancy rates to similar properties. The analysis will also describe the projected leasing time frame to
achieve project stabilization and whether reserves exist to guard against delay. If there is a balloon
payment at the end of the loan term, the analysis will describe the financial condition of the property on
the maturity date, the project’s ability to make final payment and efforts to mitigate risk (e.g.,
replacement reserves to maintain the physical condition of the property). In the case of operating
business financing, the analysis will consider cash flow available for repayment after all business
operating expenses. A 1.2 projected debt coverage ratio is desired, however a debt coverage ratio of
1.15 may be considered if the project’s financial condition supports such a lower ratio (e.g., project has
commitment of financially strong tenant(s) under long term lease). Debt service reserves may also be
required.
Loan to Value
Consistent with customary underwriting practice, loan to value coverage will be determined based on
expected value as of project stabilization. Loan to value must be supported by an appraisal prior to
funding. Section 108 project loans will target a loan to value ratio not to exceed 80 percent at project
stabilization and not to exceed 100 percent of hard costs. The analysis will first use the property being
financed as the sole source of value to determine the loan to value ratio. If such a calculation exceeds
80 percent, the project may then be required to include outside collateral to meet the targeted loan to
value requirement. The County’s security will typically be in the form of a deed of trust. In certain
cases, outside guarantees will suffice for additional collateral depending on the resources and financials
of the individuals or entities providing such guarantees.
Developer/Owner Commitment
Developer/owner commitment can take many forms. These commitments can include:
developer/owner equity, guarantees of completion, guarantees to fund shortfalls or guarantees of
minimum cash flow. The developer’s financials will also be examined and analyzed.
Pro Rata Disbursement of Section 108 Funds with Other Funding Sources
It shall be the goal of the program to disburse funds on a pro rata basis with other funds being used in
specific projects. Where this is not possible, the County will document the need for an alternate
approach.
Program Eligibility
Proposed projects will meet requirements for Section 108 eligible applicant, eligible activity and will
clearly identify the public benefit(s) including CDBG national objective to be achieved.
Project Readiness to Proceed
Applicants for loans must demonstrate evidence of ownership or site control, such as an executed
option or purchase and sale agreement, as well as the readiness of the project to proceed in a timely
manner upon loan approval. Such measures may take the form of building permit readiness,
commitment of all other financing, development team selection and/or other measures as applicable.
13
14. Development Team Capacity and Experience
Projects to be funded should have a development team that has both the capacity and demonstrated
experience to complete the project as evidenced by past projects of similar size and scope, as well as
financial strength. The developers must demonstrate positive credit histories and references. The
analysis will include:
(i) Resumes of development team members
(ii) A list of prior comparable projects completed by development team
members with a description of project size and cost
(iii) Whether such projects were completed on time and on budget
(iv) A description of development team members’ experience with public
funding sources and accompanying regulations as applicable
Loan Term
Section 108 loans shall not exceed a loan term of 20 years, with no loan to exceed the overall 20 year
term of this loan fund and in no event to exceed the useful life of the asset being financed.
Payment/Amortization
Section 108 loans will be amortized over the full term of the loan (e.g., 20 year amortization for a 20
year loan) unless otherwise pre-approved by the County. An amortization schedule longer than the term
of the loan will not be considered due to the potential financial risk.
Interest Rate
County notes guaranteed under Section 108 will initially bear a floating rate based on a formula that is
presently the 90 day LIBOR (London Interbank Offered Rate) or other HUD accepted scale, as adjusted
monthly, plus 20 basis points, and after inclusion in a public offering arranged by HUD, will carry a fixed
rate for each maturity of principal pursuant to the public offering. The County may charge the borrower
an interest rate that is higher or lower than the rate on the County’s note. Any difference in the interest
rate will be discussed in the underwriting analysis.
Origination Fee to County
The County may assess an origination fee of up to 2% of the principal amount as permissible by the
program regulations.
Collateral
The County understands that should the Section 108 project loan borrowers fail to make timely
payments and should the County subsequently fail to make required payments, HUD could deduct that
payment from the County’s annual CDBG allocation. In accepting the Section 108 Guaranteed Loan, the
County will pledge its current and future CDBG funds as security of repayment within twenty years.
However, as long as repayment is remitted as agreed by third party borrowers, there is no impact to
Cook County’s ongoing CDBG allocations. Additional security instruments employed as collateral may
include real property, equipment, and other assets created from use of Section 108 financing.
Repayment
Cook County will provide Section 108 loan financing to third parties (entrepreneurs, developers, non-
profits, etc.) who will undertake eligible activities. The County will act as the borrower and issue the
guaranteed debt obligations. The County intends to issue separate HUD-guaranteed promissory notes
with an individual principal repayment schedule for each project funded. The first loan is anticipated to
close and receive funds within 6-12 months of formal HUD approval. Cook County is requesting a
14
15. twenty-year repayment term. Repayment of Cook County’s Section 108 Loan Guarantee will be based
upon remittances from third parties assisted with loan funds.
Stakeholder Consultation and Citizen Participation Process
This Application was developed in accordance with Cook County’s current Citizen Participation Plan
which facilitates public input and comment for all HUD-funded programming. The public consultation
process for Program Year 2012 was inclusive of informational regional meetings, a Community
Development Advisory Council (CDAC) public hearing, and a Cook County Board of Commissioners
public hearing. The Draft Application was made available to the public via the Cook County website as
well as on-site at Cook County offices. In addition stakeholder organizations posted links to the
Application and advertised the public comment period via their websites. All related public meetings
as well as availability of the draft plan for public review and comment were advertised via local
newspaper as well as the Cook County website, blog, and listservs. A summary transcript of the related
meetings as well as any written comments received, as available, are enclosed in this packet.
15
16. REQUIRED FORMS
SF 424 Application for Federal Assistance
** Will be inserted in final submittal to HUD; not traditionally included in public comment release **
Certifications
** Will be inserted in final submittal to HUD; not traditionally included in public comment release **
16
17. STAKEHOLDER CONSULTATION AND CITIZEN PARTICIPATION
Community Development Advisory Council (CDAC) Public Hearing
Notices
Minutes
** Will be inserted upon completion of public hearing on August 22, 2012 **
Cook County Board of Commissioners Public Hearing
Notices
Resolution
** Will be inserted upon completion of public hearing on September 10, 2012 **
Public Comments and Cook County Responses
** Will be inserted upon completion of public hearing and conclusion of public comment period **
17
18. SUPPLEMENTAL DOCUMENTATION
Substantial Amendment to the 2010-2014 Consolidated Plan
** Will be inserted in final submittal to HUD since also released for public comment **
2010-2014 Consolidated Plan Jurisdiction Map
** Will be inserted in final submittal to HUD since unchanged from prior releases **
18
19. Endnotes
i
Social IMPACT Research Center, http://www.scribd.com/doc/65965081/Cook-County-Fact-Sheet
ii
Chicago Workforce Investment Council, www.cwic.org/Portals/0/CWICstats/CWICstatsDashboard2012Q1.pdf
iii
Metropolis Strategies, RW Ventures – Background Information on Cook County, July 11, 2012 p.14
iv
Social IMPACT Research Center, http://www.scribd.com/doc/65965081/Cook-County-Fact-Sheet].
v
Chicago Workforce Investment Council, www.cwic.org/Portals/0/CWICstats/CWICstatsDashboard2012Q1.pdf
vi
U.S. Census Bureau, 2006-2010 American Community Survey 5-Year Estimates – Cook County, IL
vii
The New York Times http://www.nytimes.com/2011/07/08/us/08cncforeclose.html?pagewanted=all
viii
RealtyTrac http://www.realtytrac.com/trendcenter/il/cook-county-trend.html
ix
Chicago Workforce Investment Council, www.cwic.org/Portals/0/CWICstats/CWICstatsDashboard2012Q1.pdf
x
U.S. Census Bureau, 2010 Demographic Profile Data – Cook County, IL
xi
Chicago Community Trust http://www.cct.org/research/research/what-does-the-census-tell-us-about-metropolitan-chicago
xii
Metropolis Strategies, RW Ventures - Background Information on Cook County, July 11, 2012, p.14
xiii
World Business Chicago, http://www.worldbusinesschicago.com/files/downloads/Plan-for-Economic-Growth-and-Jobs.pdf
xiv
Metropolis Strategies, RW Ventures - Background Information on Cook County, July 11, 2012, p.14
xv
World Business Chicago, http://www.worldbusinesschicago.com/files/downloads/Plan-for-Economic-Growth-and-Jobs.pdf
xvi
Center for Neighborhood Technology (CNT), National TOD Database
xvii
CCA Industrial Zone Economic Report, CBRE, February 15, 2007
19