https://cook-county.legistar.com/Gateway.aspx?M=LD&From=RSS&ID=5373817&GUID=FA2F2B8D-7DFB-4362-9B34-9991F91CF5D2Legistar15https://cook-county.legistar.com/Gateway.aspx?M=LD&From=RSS&ID=5373817&GUID=FA2F2B8D-7DFB-4362-9B34-9991F91CF5D2FA2F2B8D-7DFB-4362-9B34-9991F91CF5D2-2024-04-30-21-23-31Title: PROPOSED HOME INVESTMENT PARTNERSHIPS PROGRAM Department: Planning and Development Other Part(ies): Arlington Heights PSH, LLC, Arlington Heights, Illinois Request: Request the Board approve a HOME Investment Partnership Program Loan in the amount of $1,000,00 with 0% annual interest rate, 30-year term and partially deferred payments. Total Development Cost: $11,652,184.00 Project Loan Amount: $1,000,000.00 Fiscal Impact: $1,000,000.00 Account(s): 11900.1013.53956.580170 Summary: Respectfully, the Department of Planning and Development within the Bureau of Economic Development submits the loan recommendation of $1,000,000 in HOME Investment Partnership Funds for the 12-month construction period and thirty-year permanent period with a 0% permanent loan rate. The loan will fund the new construction of Arlington Heights PSH, a 25-unit, affordable, permanent supportive housing development for families and individuals, located at 1519-1625 Arlington Heights Rd., Arlington Heights, IL. The total development cost (TDC) is projected at $11,652,184. TTue, 30 Apr 2024 21:23:31 GMT