Title
Consider/Discuss/Act on a Resolution Authorizing the City Manager to Execute an Amendment the Interlocal Agreement with Collin County, and Any Additionally Required Agreements, for the Allocation of An Additional $3,000,000 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: December 7, 2021
DEPARTMENT: Housing and Community Development
CONTACT: Janay Tieken, Director of Housing and Community Development
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 increases the total amount of funding to $8,486,423.
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. A revised ILA to extend the term of the agreement was approved with Agenda item #21-0821.
FINANCIAL SUMMARY:
* Collin County has allocated $8,486,423 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 November 18, 2021, $3.8M in direct assistance has been provided.
BOARD OR COMMISSION RECOMMENDATION:
*? N/A...
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