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Lake County approves major funding for affordable housing

June 25, 2024 | Lake County, Illinois



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This article was created by AI summarizing key points discussed. AI makes mistakes, so for full details and context, please refer to the video of the full meeting. Please report any errors so we can fix them. Report an error »

Lake County approves major funding for affordable housing
In a recent government meeting, officials approved a series of resolutions aimed at enhancing affordable housing and community development in Lake County. The meeting began with the approval of the United States Department of Housing and Urban Development's (HUD) proposed annual action plan for fiscal year 2024, which includes an emergency appropriation of approximately $4.5 million. This funding, derived from Community Development Block Grant (CDBG), HOME, and Emergency Solutions Grant (ESG) programs, primarily supports housing initiatives, with about 75% allocated for housing-related services, 15% for nonprofit support, and 10% for infrastructure improvements.

The committee also approved the Lake County Affordable Housing Program awards, totaling $282,250, which will benefit five local organizations, including Community Partners for Affordable Housing and Habitat for Humanity. This funding is part of the county's budget process and aims to bolster local affordable housing efforts.

Additionally, a significant reallocation of $1,164,772 from the U.S. Treasury's Emergency Rental Assistance Funds was approved to support the development of affordable rental housing. This funding will be redirected from the Midlothian Manor project to the Starling Senior project, which is on track for a closing in approximately six weeks. The Midlothian Manor project remains funded but will need to submit a tax credit application in early 2025.

Lastly, an extension of an intergovernmental agreement between Lake County and the Lake County Housing Authority was approved to facilitate environmental reviews necessary for housing projects. This agreement allows Lake County to conduct these reviews on behalf of the Housing Authority, which is unable to serve as a responsible entity under current regulations.

The meeting concluded without any additional remarks from the County Administrator, indicating a focused session on advancing housing initiatives in the region.

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