Housing project receives extra funds

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March 1, 2010

STAFF REPORT The Commercial-News Mon Mar 01, 2010, 12:18 AM CST

HOOPESTON — A new development of affordable rental housing is coming to Hoopeston.

East Central Illinois Community Action Agency, in partnership with the Illinois Community Action Development Corp., announced that the Illinois Housing Development Authority approved $2.3 million for the Prairie Meadows Homes development.

The American Recovery and Reinvestment Act made the funding available.

The award comes as part of IHDA’s Equity Replacement Program used to purchase tax credits previously awarded to projects.

In addition to the IHDA funding, the development is receiving financial support from: $400,000 from the city of Hoopeston, $77,192 from the Federal Home Loan Bank, $100,500 from an Illinois Department of Commerce and Economic Opportunity’s Energy Efficiency Grant, $170,000 in Illinois State Donation Tax Credits and $2 million in a home loan from the IHDA.

According to the East Central Illinois Community Action Agency, the project will consist of 25 single-family homes located on about 10 acres in Hoopeston.

The floor plans consist of two- and three-bedroom homes, which should appeal to families and senior citizens. The square footage ranges from 1,050 to 1,350 square feet.

The homes will include green technology, providing for energy efficiency.

The subdivision will be located within walking distance to Hoopeston Area High School and local medical facilities.

The homes will surround a 1.76-acre park containing age-appropriate playground equipment.

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