Title
Consider/Discuss/Act on a Resolution Authorizing the City Manager to Execute an Interlocal Agreement with Collin County for the Allocation of “CARES Act” Funding, to the City of McKinney, From the Department of the Treasury, Through Collin County; and Authorizing the City Manager to Administratively Approve the Funding Allocation to Nonproifts and Any Additionally Required Agreements Between the Participating Cities in Collin County, in Order to Distribute the Funds
Summary
COUNCIL GOAL: Enhance the Quality of Life in McKinney
(5E: Develop sustainable quality of life improvements within the City of McKinney)
MEETING DATE: May 19, 2020
DEPARTMENT: Housing and Community Development
CONTACT: Janay Tieken, Housing and Community Development
RECOMMENDED CITY COUNCIL ACTION:
• Approval of the Resolution.
ITEM SUMMARY:
• This Interlocal Agreement, and accompanying documents, provide the framework for the distribution of CARES Act Funding, from the Department of the Treasury, through Collin County, to the City of McKinney and other participating Cities, for distribution to Collin County nonprofits.
BACKGROUND INFORMATION:
• Collin County received CARES Act Funding to provide ready funding to address unforeseen financial needs and risks created by the COVID-19 public health emergency.
• Collin County Commissioners requested a partnership with Allen, Frisco, McKinney and Plano in order to distribute funding to nonprofits and all residents of Collin County.
FINANCIAL SUMMARY:
• Collin County is allocating $6,889,619 to the City of McKinney to provide mortgage, rental, utility and food assistance to Collin County residents earning up to 200% of Area Median Income (AMI).
BOARD OR COMMISSION RECOMMENDATION:
• N/A