Rental properties – Owners of multi-family buildings with seven or fewer units may be eligible for forgivable loans of up to $5,000 per unit under the Village’s Small Rental Rehab Program. Owners need to contribute matching funds of at least 25 percent of the total project cost and agree to rent to income-eligible tenants for two years. Projects eligible for funding include general property repairs, unit upgrades and energy efficiency improvements. For more information, visit www.oak-park.us/housing, call 708.358.5410 or email firstname.lastname@example.org.
Single-family emergency – No-interest loans of up to $5,000 are available to help income-eligible owners of single family homes make emergency repairs such as replace faulty furnaces or water heaters before the winter weather returns. To qualify, homes must be owner-occupied and household income must be at or below 80 percent of the area median income — for example $55,350 for a three-person household. Loan terms are for five years. Email email@example.com or call 708.358.5413 for more information.