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PROPOSED HOME INVESTMENT PARTNERSHIPS PROGRAM
Department: Planning and Development
Other Part(ies): Over the Rainbow Association, Evanston, Illinois
Request: Respectfully, the Department of Planning and Development requests the approval of $695,000 in Home Investment Partnership Funds for the development of Mustacchi Manor in Matteson, Illinois
Total Development Cost: $6,751,390.00
Project Loan Amount: $695,000.00
Fiscal Impact: None
Account(s): 11900.1013.53740.580170
Summary: The subject loan will support the ground-up construction of Mustacchi Manor, a 16-unit Permanent Supportive Housing (“PSH”) development in Matteson, IL, providing affordable rental housing units for physically and mentally challenged residents in Suburban Cook County.
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