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Oak Park board adopts emergency rehabilitation and small-rental loan guideline changes, updates residential rehab program
Summary
The Village Board approved a new Emergency Residential Rehabilitation Loan Program and amended small-rental and residential rehabilitation loan guidelines, increasing small-rental per-unit assistance, clarifying affordability periods and removing an application fee; trustees asked staff to return with refinements on affordability, interest and data
The Village Board of Oak Park voted to create a standalone Emergency Residential Rehabilitation Loan Program and to amend guidelines for small rental and residential rehabilitation loan programs after a months-long staff review and recommendations from the Housing Programs Advisory Committee.
Assistant Village Manager and Neighborhood Services Director Jonathan Birch presented the package. Birch told the board the housing programs had not been substantially updated since 2012 and shared staff concerns about declining participation: "At 1 time, the goal was to be able to do about 10 projects a year through that program. And in very recent years, we've been doing 2 to 3 a year," he said. To reduce confusion and improve access, staff proposed splitting the existing emergency loan provision out of the single-family guidelines, clarifying eligible dwelling types and adjusting loan maximums and affordability periods.
Item I: Emergency Residential Rehabilitation Loan Program
The boar…
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