Illinois Housing Development Authority issued the following announcement on Jan. 21.
The Illinois Housing Development Authority (IHDA) announced $8 million in funding is available to help spur community redevelopment through the elimination of blighted and abandoned residential properties. Municipalities, counties and land banks may apply for grants through the fifth funding round of the state's Abandoned Residential Property Municipality Relief Program (APP), 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 Feb. 16, 2021 at 3 p.m. CST and is available online at: www.ihda.org/my-community/revitalization-programs.
"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. 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."
Established by the Illinois General Assembly through the Save Our Neighborhoods Act (P.A. 96-1419), the APP program provides grants of up to $250,000 to help municipal governments address the lasting impact of the foreclosure crisis by securing, maintaining, demolishing or rehabilitating abandoned homes. The APP program is funded through a filing fee paid by banks and other lending institutions on a sliding scale based on how many foreclosures they file each year.
The Abandoned Property Program is available statewide. Applicants must be a municipality, county or land bank located in the State of Illinois. However, a county or municipality may join with other counties or municipalities and together submit a single application.
To better provide more information on the program, application process and eligibility, IHDA hosted an application tutorial webinar on Jan. 14. Potential applicants can find a recording of the webinar here and the slides from the presentation here.
For any questions about the application process, applicants should contact IHDA's Community Affairs Department at APPinfo@ihda.org.
Original source can be found here.
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