From MPC's February 2003 Media Tips
The Regional Housing Initiative (RHI), an innovative idea for expanding
rental options for the region's lowest income families, is turning local housing
authorities' unused Housing Choice Vouchers into new apartments. RHI pools
vouchers from the Chicago, Cook County and Lake County housing authorities as
financing incentives to developers whose proposals apply sound planning
principals to create diverse communities in the sponsoring counties. MPC
is working with the Illinois Housing Development Authority to run the
program.
RHI hit the ground running in the last round in December, providing for 25
new units of affordable housing to be developed. Subsidies in this pilot
phase will fund a total of 328 apartments within mixed-income communities.
The application deadline for the next round is March 7, 2003.
Developers are encouraged to visit MPC's Web site for information and
an application.
Contact: Robin
Snyderman, Housing Director
312.863.6007