Dec
08

Chicagoland Neighborhoods Get Funds for Housing

December 08, 2011

Several west suburban Cook County communities are getting millions of dollars in federal funds to rehab Chicago real estate and revitalize neighborhoods.

The West Cook County Housing Collaborative (WCCHC) has received $7 million in federal funding to create affordable housing and stabilize communities in parts of Chicago, Oak Park, Berwyn, Bellwood, Forest Park and Maywood.

house made out of moneyA $2.9 million Sustainable Communities Regional Planning grant was awarded to the WCCHC to rehabilitate homes for low- and moderate-income families, offer foreclosure recovery resources and undergo transit redevelopment in those communities.

“Today’s funding will help communities in west Cook County ensure decent, affordable housing for more families and residents,” said U.S. Senator Dick Durbin (D-IL). “More than that, a stable community with easy access to transportation is better positioned to retain and attract businesses that can revitalize the region and create good-paying jobs.”

In addition to that initiative, nearly $4.3 million in federal funding will go toward the acquiring, rehabilitating and selling of homes in Bellwood, Maywood and Forest Park, three Cook County suburbs that suffered severe flood and storm damage in ’08.

“This funding will help revitalize communities in west suburban Cook County that were impacted by the storms in 2008 by expanding affordable housing,” said Illinois Governor Pat Quinn. “Providing more affordable housing options will help ease financial stress for families and stabilize the local economy.”

Those federal funds are coming from the “IKE” Disaster Recovery Program, which was named for 2008′s Hurricane Ike, one of the country’s costliest hurricanes ever.

Illinois has received $169 million from IKE to help communities in 41 Illinois counties recover from the storms and flooding of 2008.

And now even more steps are being taken to improve housing and stabilize Chicago-area neighborhoods.

“We are pleased to see these communities working together on a collaborative approach, which is why we wanted to support their joint effort and help leverage additional federal funding,” said Warren Ribley, Illinois Department of Commerce & Economic Opportunity (DCEO) Director.

“The funding will help these west suburban Cook County communities bring increased affordable housing to areas in need.”

For more information on the IKE Disaster Recovery Program, visit ildceo.net.

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Tracey

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