We started out on this journey in 2008, when we partnered with The Resurrection Project and applied for a $2.5 million Illinois Housing Development Authority grant.
Together with Melrose Park Mayor Ron Serpico and Bellwood Mayor Frank Pasquale, we targeted neighborhoods hit hardest by foreclosure. Melrose Park played a key role by adding down payment assistance, subsidies and property tax breaks to make the homes even more affordable.
Eight dangerous eyesores have been restored, returned to the tax rolls and will remain affordable housing stock. If they're ever sold, they must be sold at an affordable IHDA-established price.
We gathered last week in the beautifully rehabbed living room of one of the homes to recognize the contributions of so many people who made the program a success. Congratulations to everyone who helped in this effort and congratulations to our new homeowners!
Watch this short video recap
Read the full press release.