CHICAGO (WBBM NEWSRADIO) — Eight million dollars is available to give old properties new life.
The Illinois Housing Development Authority has announced $8 million in funding is available to help spur community redevelopment through the elimination of blighted and abandoned residential properties.
State officials say municipalities, counties and land banks may apply for grants through the fifth funding round of the state’s Abandoned Residential Property Municipality Relief Program.
“IHDA is committed to helping local leaders as they revitalize and rebuild their communities,” said IHDA Executive Director Kristin Faust. “Long-term vacancies and abandoned properties are not only an eyesore, but a financial burden to local governments, many of which lack the means to tackle this burgeoning problem.”
That's an ongoing program that assists local government agencies with the maintenance and demolition of abandoned residential properties in their communities. The application will remain open until February 16th.
“In just the past two years, the APP program has provided over $9 million to help local governments maintain or demolish 3,600 abandoned properties in 43 counties across the state,” Faust said.
The APP is available statewide.