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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...
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