File #: 23-4091    Version: 1 Name: Fixed Site Shelter Acquisition - Write Inn, Housing Forward and Oak Park Development Corporation
Type: HOME Investment Partnerships Program Status: Approved
File created: 7/14/2023 In control: Finance Committee
On agenda: 7/20/2023 Final action: 9/21/2023
Title: PROPOSED ARPA FIXED SITE SHELTER - ACQUISITION PROGRAM Department: Planning and Development Other Part(ies): Housing Forward, LLC and Oak Park Development Corporation, Oak Park, Illinois Request: Respectfully request the Board of Commissioners approval of a $6,500,000.00, 30-years, 0% permanent loan using American Rescue Plan Act (ARPA) funds to acquire an existing hotel facility to create a fixed site, 55-person, non-congregant, permanent shelter facility. Total Development Cost: $14,264,873.00 Project Loan Amount: $6,500,000.00 Fiscal Impact: $6,500,000.00 Account(s): 11286.1013.66737.580170.00000.00000 Summary: Housing Forward, LLC and the Oak Park Development Corporation have requested $6,500,000.00 in American Rescue Plan (ARPA) funds for the acquisition of an existing hotel property in Oak Park, IL. The loan has a thirty-year term, 0% permanent loan rate and is fully forgivable at maturity. The loan will be used to acquire property for individuals experienci...
Indexes: ALMA E. ANAYA, County Commissioner, ANTHONY J. QUEZADA, County Commissioner, BILL LOWRY, County Commissioner, BRIDGET DEGNEN, County Commissioner, BRIDGET GAINER, County Commissioner, DENNIS DEER, County Commissioner, DONNA MILLER, County Commissioner, FRANK J. AGUILAR, County Commissioner, JOHN P. DALEY, County Commissioner, JOSINA MORITA, County Commissioner, KEVIN B. MORRISON, County Commissioner, MAGGIE TREVOR, County Commissioner, MONICA GORDON, County Commissioner, SCOTT R. BRITTON, County Commissioner, SEAN M. MORRISON, County Commissioner, STANLEY MOORE, County Commissioner, TARA S. STAMPS, County Commissioner, SUSAN CAMPBELL, Director, Department of Planning and Development
title
PROPOSED ARPA FIXED SITE SHELTER - ACQUISITION PROGRAM

Department: Planning and Development

Other Part(ies): Housing Forward, LLC and Oak Park Development Corporation, Oak Park, Illinois

Request: Respectfully request the Board of Commissioners approval of a $6,500,000.00, 30-years, 0% permanent loan using American Rescue Plan Act (ARPA) funds to acquire an existing hotel facility to create a fixed site, 55-person, non-congregant, permanent shelter facility.

Total Development Cost: $14,264,873.00

Project Loan Amount: $6,500,000.00

Fiscal Impact: $6,500,000.00

Account(s): 11286.1013.66737.580170.00000.00000

Summary: Housing Forward, LLC and the Oak Park Development Corporation have requested $6,500,000.00 in American Rescue Plan (ARPA) funds for the acquisition of an existing hotel property in Oak Park, IL. The loan has a thirty-year term, 0% permanent loan rate and is fully forgivable at maturity. The loan will be used to acquire property for individuals experiencing homelessness and individuals in need of recuperative care services and housing. The acquisition and renovation of the Write Inn will provide Housing Forward with a permanent addition of 55 beds (units) to help close the gap and address the unmet need that has consistently been identified in the west Cook County region.

Housing Forward currently occupies this property and has been utilizing it for the subject intended use for more than two years. Housing Forward's strategic plan and corresponding strategic facilities plan both identify the need to add 80-85 new beds (units) in the West Suburban Cook County.

Housing Forward will provide temporary housing and necessary wrap-around services to unsheltered individuals and families as an equitable and dignified crisis response and a solution to resolving their homelessness. Through this location, Housing Forward will provide 24/7 temporary and private residential services and necessary supports to resolve the immediacy of their...

Click here for full text