Berwyn to receive housing funding

By Rene Howard-Paez

Berwyn is slated to receive housing grant money soon, due to a new housing grant.

According to the Chicago Tribune, U.S Senator Dick Durbin recently made the announcement.

More than $21 million in grants for housing will be shared by Berwyn, Bolingbrook, Cicero, Hoffman Estates, Des Plaines, Cook County and St. Clair County. Each will receive funding ranging from $259,000 to $9.3 million.

It is unknown how Berwyn will use these grants.

Berwyn Mayor Lovero and city council members were unavailable for comment, after multiple interview requests.

In separate housing news, the Illinois Housing Development recently released and updated reported that showed Berwyn initiating twenty two new residential mortgages.  The Illinois Building Pilot Program was created and managed through the IHDA.

This program was designed to address foreclosed homes with five target communities: Maywood, Park Forest, Chicago Heights, South Holland and Berwyn. The Illinois Building Pilot Program includes a 30-year, fixed-rate mortgage featuring an affordable interest rate and a $10,000 forgivable loan over two years for down payment and closing cost assistance.

To see the qualifications for the program visit:

http://www.ihda.org/homeowner/ilbuildingblocksprogram.htm

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