Title
Consider/Discuss/Act on a Resolution Authorizing the City Manager to Execute an Extension the Interlocal Agreement with Collin County, and Any Additionally Required Agreements, for the Allocation of Round 2 of the “CARES Act,” Coronavirus Relief Package Funding, to the City of McKinney, Texas, from the Department of the Treasury, Through Collin County
Summary
COUNCIL GOAL: Enhance the Quality of Life in McKinney
(5E: Develop sustainable quality of life improvements within the City of McKinney)
MEETING DATE: September 21, 2021
DEPARTMENT: Housing and Community Development
CONTACT: Janay Tieken, Housing and Community Development Manager
RECOMMENDED CITY COUNCIL ACTION:
• Approval of the Resolution.
ITEM SUMMARY:
• The Interlocal Agreement between Collin County and the City of McKinney, lays out the distribution of Round 2 CARES Act Funding, from the Department of the Treasury, through Collin County, to the City of McKinney, for residents residing within the City limits of the City of McKinney.
• The revised ILA extends the performance date from December 31, 2021 to September 30, 2022.
BACKGROUND INFORMATION:
• Collin County received Round 2 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 approved the distribution of funds to the City of McKinney to provide rental and utility assistance to City of McKinney residents.
• The original ILA was approved by City Council on February 23, 2021, Agenda item # 21-0168, to expire December 31, 2021.
FINANCIAL SUMMARY:
• Collin County allocated $5,486,423 to the City of McKinney to provide rental and utility assistance to City of McKinney residents earning 80% or less of Area Median Income (AMI).
• As of September 9, 2021, $2,717,849 in direct assistance has been provided.
BOARD OR COMMISSION RECOMMENDATION:
• N/A