Approximately 100 abandoned homes across Chicago will be secured, rehabilitated or demolished over the next two years through a financial plan introduced to City Council today by Mayor Rahm Emanuel.
The plan will authorize the City of Chicago to accept a $3.6 million grant from the Illinois Housing Development Authority (IHDA) to secure, repair or raze one-to-four unit residential properties that are unoccupied and either abandoned or in need of significant maintenance.
Part of the State of Illinois’ Abandoned Residential Property Municipality Relief Program, the grant could also be used for trimming of overgrown vegetation, pest extermination, and the removal of debris and graffiti.
The funding will be administered by the Department of Planning and Development (DPD) with work to be performed by approved contractors working in conjunction with the Department of Buildings (DOB). Demolition and maintenance costs will vary depending on individual property conditions.
DPD applied for the funding in October 2016 and was awarded the competitive grant in March. In a previous funding cycle, DOB received a similar $2 million grant from IHDA, which was used to secure 252 and demolish 137 properties.
The abandoned property program was created by the state legislature in 2013. Funding for the program comes from foreclosure filing fees that banks and other lending institutions pay to the state each year.
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