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PROPOSED HOME INVESTMENT PARTNERSHIPS PROGRAM
Department: Planning and Development
Other Part(ies): Impact Behavioral Health Partners, Evanston, Illinois
Request: Respectfully requests Board approval of a HOME Investment Loan in the amount of $600,000, a 1% interest rate and 30-year term for the development of 16- units of affordable, supportive housing in Skokie, IL.
Total Development Cost: $8,024,553.00
Project Loan Amount: $600,000.00
Fiscal Impact: $600,000.00
Account(s): 11900.1013.53956.580170
Summary: The proposed development located at 8047 Floral Avenue, Skokie, Illinois 60077 is a 17,900sf new construction 3-story wood frame building consisting of 16,000sf for 16 units (approximately 525sf/unit) of permanent supportive housing on the second and third floors. The ground floor will have two offices for supportive services, library, and community room for the residents. In addition to the residential common space, a small retail component will also be on the first floor per Skokie's downtown zoning code.
All 16 one-bedroom units will be affordable to persons at or below 30% of area median income. There will be a preference for persons with developmental and mental health disabilities. Supportive services will be provided on-site by Impact Behavioral Health Partners.
The site location is at the intersection of Floral and Brown in the Village of Skokie. There are a variety of area amenities within a half mile of the site which includes, Walmart Super Center, Aldi, Restaurants, Oakton Community College and public transportation via CTA/PACE and Yellow Line Oakton Station.
The proposed site consists of an existing single-family home with a detached garage. The home is currently vacant and previously used as office space by a law firm. The home and garage had a lot of unused space as is marked for demolition.
The developer, Impact Behavioral Health Partners, has specialized in permanent supportive housing services for over 25 year...
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