CHICAGO – State Senator Elgie R. Sims, Jr. announced that a combined total of $1.6 million is coming to local communities to support revitalization efforts.
“Investing in affordable housing uplifts our community and boosts our local economy,” said Sims (D-Chicago). “We are taking strong strides toward revitalization and attracting investments in the communities that need it most. All Illinoisans deserve sustainable, livable housing options.”
The Illinois Housing Development Authority recently approved $19 million to support affordable housing and community revitalization efforts across Illinois. Awarded under the Strong Communities Program, the initiative will provide funding to 68 units of local governments and land bank authorities for the acquisition, maintenance, rehabilitation and demolition of abandoned residential properties in their communities. The program is designed to support local revitalization efforts and attract further investment in communities that may lack the resources needed to tackle vacant, abandoned and deteriorated properties.
The second round of Strong Communities Program awardees include:
- Cook County Land Bank Authority: $562,000
- South Suburban Land Bank and Development: $562,000
- Village of Hopkins Park: $195,000
- Sauk Village: $337,000
“Vacant and abandoned properties continue to be a strain on local budgets and resources in communities throughout Illinois, which is why IHDA created the Strong Communities Program to assist local governments with their neighborhood revitalization efforts,” said IHDA Executive Director Kristin Faust. “Through the Strong Communities Program, IHDA seeks to help communities transform these properties back into positive, revenue-generating assets for neighborhoods.”
The grants are funded by the Rebuild Illinois capital plan and will leverage IHDA’s existing funding to increase property values, create jobs, help reduce crime, generate additional tax revenue and attract further community investment in underserved communities around the state. A total of $30 million in grant funding has been awarded through two application rounds.
To learn more about the Stronger Communities Program, click here.
