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"When you live in a nice
house you can afford, it gives you peace of mind and stability,"
Gov. Blagojevich said. "And that means you can spend more time with
your family, friends and neighbors. It also helps you find good jobs
nearby and get ahead in life. This investment allows all that for
hundreds of families in 10 counties across the state." Gov.
Blagojevich's top housing priority is to effectively use state
resources to best meet the affordable housing needs of Illinois
residents. Affordable housing increases family and community
stability, provides jobs and economic growth through the housing
industry, and gives Illinois a competitive edge in attracting
investment, which generates a larger local and state tax base and
improves Illinois' overall fiscal health.
"I am proud that IHDA can help meet the affordable housing needs
of local communities," said Kelly King Dibble, executive director of
the Illinois Housing Development Authority. "IHDA finances the
creation and preservation of quality affordable housing to meet the
diverse affordable housing needs that exist throughout Illinois.
From one-bedroom apartments to four-bedroom, two-bath single-family
homes, these developments will provide quality homes families can
afford."
Champaign County
Champaign, Urban Park Place -- $1.5 million financing, 24 rental
units
IHDA has approved $1,506,176 in financing for the rehabilitation
of two three-story brick buildings that will provide 24 affordable
rental units in the Douglas Park neighborhood. The building's
exterior will be renovated, and the four one-bedroom and 20
two-bedroom units will receive new carpeting, cabinets and
appliances.
Christian County
Taylorville, Vandeveer Homes -- $2.8 million financing, 19
single-family homes
IHDA has approved $2,826,348 in financing for the construction of
19 single-family homes. Vandeveer Homes will provide affordable two-
and three-bedroom homes, with one to two baths, for Taylorville
residents. Vandeveer Homes will build upon the success of
Taylorville Homes, a similar development just east of the Vandeveer
Homes site that was leased within three months of completion.
Cook County
Humboldt Park, La Estancia -- $750,000 financing, 57 rental units
IHDA has approved $750,000 in financing for the construction of
three four-story buildings in Chicago's Humboldt Park neighborhood.
La Estancia will provide 57 units of affordable family housing, with
nine one-bedroom units, 21 two-bedroom units, 21 three-bedroom units
and six four-bedroom units. Each unit will have a range,
refrigerator, carpeting, window treatments, central air, and
washer-dryer hookups.
Kankakee County
Sun River Terrace, Sun River Single Family Housing -- $4.4
million financing, 25 single-family homes
IHDA has approved $4,425,758 in financing for the construction of
25 single-story brick veneer three-bedroom and two-bath
single-family homes in Sun River Terrace. Each unit will have an
attached two-car garage, front porch, range, refrigerator,
dishwasher, microwave, washer-dryer, carpeting, window treatments
and central air.
Marion County
Centralia, Hickory Meadows Subdivision -- $4.6 million financing,
32 single-family homes
IHDA has approved $4,641,287 in financing for the construction of
32 three-bedroom, two-bath single-family homes that will help meet
the need for affordable single-family housing in Centralia. Each
home will include a garage, garbage disposal, dishwasher,
refrigerator, range, window treatments and laundry room. A community
center will include the manager's office, a community room, laundry
room, kitchen, bathroom, conference room, computer lab and exercise
room.
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 Menard County
Menard County, County Estates -- $11.5 million financing, 68
apartments and single-family homes
IHDA has approved $11,501,964 in financing for the construction
of 68 single-family rental units that will provide affordable two-,
three- and four-bedroom units for Petersburg, Greenview and Athens
residents.
Montgomery County
Litchfield, Freedom Place II -- $2.9 million, 20 single-family
homes
Before Phase I of Freedom Place, the city of Litchfield had no
three-bedroom rental properties. IHDA has approved $2,911,231 in
financing to Freedom Place II for the construction of 20 two- and
three-bedroom single-family homes that will build on the success of
Freedom Place I and that will help meet the need for affordable
single-family housing in Litchfield. Two of the units will be
market-rate.
Moultrie County
Sullivan, Westport Apartments -- $5 million, 48 apartments
IHDA has approved $5,009,576 in financing for the construction of
six two-story buildings in Sullivan. Westport Apartments will
provide 48 affordable rental units that will include eight
one-bedroom, 28 two-bedroom and 12 three-bedroom units. Each unit
will have a range, refrigerator, dishwasher, garbage disposal,
central air, carpeting, window treatments, washer-dryer hookup and
will be wired for Internet service. A community center will include
a community room, exercise room, computer room, restrooms, kitchen
facilities, laundry room and office.
Peoria County
Peoria, River West South -- $ 4.1 million, 26 single-family homes
River West South is the second phase of the redevelopment of the
former John Warner Homes and is part of Peoria's plan to revitalize
the downtown and near-south Peoria areas. IHDA has approved
$4,175,000 in financing for the construction of 26 two- and
three-bedroom homes that will include a playground and will be
located near a Head Start center.
Tazewell County
Pekin, Brookmeadows Apartments -- up to $5,000,000 refinancing
for 156 apartments
Brookmeadows Apartments provide 156 units of affordable housing
in 11 two-story buildings. The 56 one-bedroom, 88 two-bedroom and 12
three-bedroom units are served by the local bus system and are
within walking distance of the grocery store. Tenants can
participate in after-school, senior and parenting programs. To
ensure the units remain affordable for the next 12 years, IHDA has
approved up to $5,000,000 to refinance Brookmeadows Apartments.
About the Illinois Housing Development Authority
The Illinois Housing Development
Authority is a self-supporting state agency that finances the
creation and preservation of affordable housing across Illinois.
Since its creation in 1967, the agency has allocated more than $6.4
billion and financed more than 160,000 units of affordable housing
statewide. The agency accomplishes its mission through several
federal and state funding sources, including the Illinois Affordable
Housing Trust Fund, the Illinois Affordable Housing Tax Credits
Fund, the allocation of federal Low Income Housing Tax Credits, HOME
Investment Partnership funds and others. The agency is also a
bonding authority and independently sells bonds, based on its own
good credit, to finance affordable housing across the state.
[News release from the governor's office] |
