PILSEN — A Pilsen nonprofit’s affordable housing rehab initiative is getting backing from Mayor Lori Lightfoot.
On Wednesday, Lightfoot introduced a proposed ordinance to fund the Resurrection Project’s $28.7 million plan to rehab 14 apartment buildings across Pilsen, Little Village and Back of the Yards.
As part of the plan, the city aims to help the nonprofit rehab 155 affordable housing units, which include studios to four-bedroom apartments across the three neighborhoods.
Up to $15 million in tax-exempt bonds, nearly $1 million in four percent Low-Income Housing Tax Credits and the restructuring of $7.7 million in Department of Housing loans would be provided to the Resurrection Project as part of the plan.
The ordinance also calls for the issuance of $7.4 million in new Department of Housing multi-family loan funds.
Qualifying households that benefit from the Resurrection Project’s affordable housing stock must make between 30 to 60 percent of Area Median Income or below, according to the organization’s website. The initiative would also include 78 Section-8 units, according to a release by the mayor’s office.
The “initiative will allow for much-needed structural updates, improving the living conditions for over 500 individuals,” the organization website states.
The Resurrection Project aims to rehab the following buildings as part of the initiative:
- 1910 South Albany Ave.
- 2124 W. 19th St.
- 2243 S. Central Park Ave.
- Casa Tabasco, 2301 S. Drake Ave.
- Casa Sor Juana, 2700 S. Drake Ave.
- Casa San Luis, 1640 S. Throop St.
- Casa Puebla, 2014 S. Racine Ave.
- Casa Oaxaca, 1714 W. 19th St.
- Casa Monterrey, 967 W. 19th St.
- Casa Hidalgo, 4600 S. Wood St.
- Casa Guerrero, 963 W. Cullerton St.
- Casa Guanajuato, 1313 W. 19th St.
- Casa Chiapas, 1712 W. 17th St.
- Casa Colima, 1427 W. Cullerton St.
The buildings were last rehabbed over 10 years ago, according to the organization’s website.
The measure will next be considered by the city’s Finance Committee.
Last November, the Committee on Zoning approved the organization’s plan to build a $20 million affordable housing development in the neighborhood.
The Resurrection Project currently operates 330 affordable housing units across its Pilsen properties.
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