Overcast
34°FOvercastFull Forecast
Shaw Media Auctions

State to help renovate housing units

Published: Monday, Oct. 21, 2013 1:15 a.m. CST

CHICAGO (AP) – A new state program will help finance the preservation of about 600 affordable housing units for people with disabilities and seniors in Chicago and Peoria.

Gov. Pat Quinn announced the projects Saturday. They are the first under an Illinois Housing Development Authority program known as Preservation Now.

Quinn said the project will preserve affordable housing for hundreds of families and create more than 500 jobs. He said it’s more important than ever to maintain reasonably priced rental homes.

In Peoria, IHDA is providing about $30 million in low-interest loans to rehabilitate 478 units in four developments. The Chicago project provides about $18 million in loans to buy and rehabilitate a 100-unit high-rise for seniors.

Work is expected to be completed by fall.

Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

National video



Reader Poll

Rock Falls is considering a ban on leaf burning. Should the city finally take that step?
Yes. Sterling and Dixon have had bans for years. It’s time for Rock Falls to impose a ban.
No. It would be too great a burden for homeowners to dispose of fallen leaves in other ways.
Not sure
No opinion