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Evanston staff detail program finances and repayment volatility for housing rehab fund
Summary
Staff reported the housing rehab fund balance (~$1.26M), 68 open loans with about $1.4M unpaid balance, and described past volatility in annual repayments (e.g., $8,000 in 2024 vs. $111,000 so far in 2026).
At the July 21 committee meeting, Marian Johnson outlined the fiscal state of the city’s housing rehab program. She said the fund contains roughly $1,260,000 and that the city holds 68 open loans with an unpaid balance of about $1.4 million. “We currently have 68 loans that are open ... that's an unpaid balance of about $1.4 million,” Johnson said.
Johnson cautioned that program income from loan repayments is unpredictable: some years produce tens of thousands in returns while others produce much more or much less depending on property sales or owner life events. She cited 2024 as a low repayment year (about $8,000) and said 2026 is higher so far (about $111,000), and explained staff typically budget conservatively because the annual CDBG grant arrives in September and the city must preserve continuity between grant years.
