Governor Quinn Announces Efforts to Boost Development of South Suburban Cook County

Announces $6.6 Million “IKE” Funding to Revitalize Communities Throughout South Cook; Signs Laws to Support Economy

TINLEY PARK, IL – July 12, 2011 – (RealEstateRama) — July 11, 2011. Governor Pat Quinn today announced $6.6 million in federal funding to increase affordable housing, stabilize communities and make infrastructure improvements in six south suburban Cook County communities. Awarded through the “IKE” Disaster Recovery Program, the funding will be used to purchase and rehab or demolish vacant or abandoned homes and to upgrade water-sewer lines and roads in the vicinity of the targeted housing projects.

“This funding will help revitalize the economy with much needed improvements for several suburban cook county communities,” said Governor Quinn. “With this assistance, we’re helping to ensure the expansion of affordable housing and improvement of the infrastructure needed to prevent future damage.”

The recovery program is named for Hurricane Ike, the 2008 disaster that was one of the costliest hurricanes ever to make landfall in the United States. Illinois received a total of $169 million in federal disaster funds under the IKE to assist communities within 41 Illinois counties recover from devastating floods and storms in 2008 and minimize the impact of future disasters.

Last month, Governor Quinn announced $48 million in public infrastructure investments that were awarded in 85 Illinois communities, including six awards in south suburban Chicago totaling nearly $3.7 million. The awards will support long term recovery by upgrading core public infrastructure severely damaged by the 2008 storms and subsequent flooding throughout the Midwest. Projects range from levee improvements and culvert restoration to upgrades to water and sewer systems, pump stations and replacement of emergency power generators.

Governor Quinn announced the housing and public infrastructure grant awards on behalf of communities in south suburban Chicago during the July meeting of the Southland Chamber of Commerce. A complete list of projects is attached.

During the meeting, Governor Quinn also signed legislation that will help support economic growth in south suburban Chicago. House Bill 1730 sponsored by Rep. Al Riley (D-Hazel Crest) and Sen. Toi Hutchinson (D-Chicago Heights) helps municipalities appropriate funding dedicated to economic development. The Governor also signed House Bill 1215 sponsored by Rep. Riley and Sen. Maggie Crotty (D-Oak Forest) extends the deadline for the city of Markham to complete a redevelopment project in that TIF district.

For additional information on the IKE Disaster Recovery Program, visit www.ildceo.net/disasterrecovery.