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Affordable Housing Loans Approved For Arlington Heights

Two native inexpensive housing tasks acquired some funding Thursday following a vote by the Prepare dinner County Board of Commissioners. The board authorized $2.6 million in HOME Funding Partnership Program Mortgage funding for brand spanking new inexpensive and everlasting supportive housing tasks situated in Arlington Heights and Skokie.

These HOME Funding Partnership Program Loans are an funding made by Prepare dinner County to develop inexpensive and everlasting supportive housing improvement tasks for households and people in asset wealthy communities in suburban Prepare dinner County, in accordance with a information launch.

“Prepare dinner County is proud to offer HOME Funding Mortgage funding to the event of those vital and important inexpensive housing tasks,” Prepare dinner County Board President Toni Preckwinkle stated. “The demand for the sort of housing represents a necessity that we should proceed to handle till everybody has a secure and inexpensive place to dwell.”

Funding for a housing challenge in Skokie was additionally authorized. The 2 tasks in Arlington Heights, which every acquired $1 million in 0 p.c curiosity loans, are:

Arlington Heights PSH consists of latest building of a 25-unit, inexpensive, everlasting supportive housing improvement for households and people, situated at 1519-1625 Arlington Heights Highway. Further funding sources embrace Illinois Housing Improvement Authority, IHDA HOME or Belief Funds, Illinois Facility Fund, ComEd Grant, and Illinois Capital Invoice. The property shall be wholly owned by Full Circle Communities, Inc, which specializes within the enlargement of high quality inexpensive housing by way of preservation and improvement and offers focused supportive providers to their residents and surrounding communities, in accordance with the information launch

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310 Arlington Heights LLC, Arlington Heights, options new building situated at 310 W. Rand Highway, shall be a household housing neighborhood for low- and moderate-income households will include 40 residential items together with 20 one-bedroom items and 20 two-bedroom items. The constructing shall be constructed to Nationwide Inexperienced Buildings Requirements. The event will provide a number of resident packages concentrating on grownup literacy, monetary administration, and employment help. All packages shall be for free of charge to the residents. The event will provide on-site facilities to facilitate social areas and handy entry to providers together with an on-site property supervisor, neighborhood/media, health, and laundry rooms.

 

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