Summary as Introduced
Amends the Counties Code. Provides that the Cook County Treasurer shall maintain a special fund known as the Cook County Housing Trust Fund for which the Housing Authority of Cook County shall be the sole beneficiary. Provides that the Fund may receive moneys from appropriations from the State for use by the Housing Authority of Cook County, as well as loan repayments, cash distributions from equity investments, and similar cash payments generated by a funded project that may be redeposited into the Fund and used for additional projects. Specifies the use of moneys in the Fund. Requires the Cook County Treasurer, in consultation with the Housing Authority of Cook County, to make accounting annually to the Cook County Board of Commissioners through the County Clerk of the use of moneys maintained in the Fund.
Staff Analysis
Amends the Counties Code. Provides that the Cook County Treasurer shall maintain a special fund known as the Cook County Housing Trust Fund for which the Housing Authority of Cook County shall be the sole beneficiary. Provides that the Fund may receive moneys from appropriations from the State for use by the Housing Authority of Cook County, as well as loan repayments, cash distributions from equity investments, and similar cash payments generated by a funded project that may be redeposited into the Fund and used for additional projects. Specifies the use of moneys in the Fund. Requires the Cook County Treasurer, in consultation with the Housing Authority of Cook County, to make accounting annually to the Cook County Board of Commissioners through the County Clerk of the use of moneys maintained in the Fund.