Archives

September 23, 2009 - (RealEstateRama) -- Congressman Phil Hare (D-IL) today announced that the U.S. Department of Housing and Urban Development has awarded Decatur $623,309 and Springfield $516,191 from the American Recovery and Reinvestment Act through the new Homeless Prevention and Rapid Re-housing Program (HPRP).These grants offer communities a resource to provide short- and medium-term rental assistance and services to prevent individuals and families from becoming homeless or to quickly re-house those who are experiencing homelessness.

CHICAGO, IL - September 21, 2009 - (RealEstateRama) -- Members of the Illinois Housing Development Authority (IHDA) board today appointed Gloria L. Materre, former deputy chief of staff under Governor Pat Quinn, as executive director. IHDA is the state agency dedicated to financing affordable housing across the state. Materre succeeds DeShana L. Forney, who resigned to pursue other career opportunities.

Washington, DC - September 21, 2009 - (RealEstateRama) -- U.S. Congressman Jerry Costello (D-IL) announced that the Granite City Housing Authority has received a $6,052,223 grant as part of American Recovery and Reinvestment Act funding from the Department of Housing and Urban Development. The funds will be used to make energy efficiency improvements at Granite City Commons

WASHINGTON, DC - September 10, 2009 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development today accepted a $17.3 million plan from the State of Illinois to support its recovery following last year's devastating floods. The emergency funding is provided through HUD's Community Development Block Grant (CDBG) Program and will help Illinois to buyout homes and support local infrastructure projects located in flood-prone areas.

SPRINGFIELD, IL - September 4, 2009 - (RealEstateRama) -- The end is nearing for the first-time homebuyer tax credit. In order to qualify, homebuyers must close on or before midnight on November 30th of this year to qualify for the tax credit. The National Association of REALTORS® estimates close to two million first-time buyers will have taken advantage of the $8,000 tax credit this year, stimulating an additional 350,000 home sales

JOLIET, IL - September 3, 2009 - (RealEstateRama) -- Governor Pat Quinn joined business and community leaders today to break ground on a new transportation facility in Joliet. Based on their existing Elwood facility, CenterPoint Properties projects 7,000 permanent jobs will be brought to Illinois by this new facility.

CHICAGO, IL - September 3, 2009 - (RealEstateRama) -- U.S. Senator Dick Durbin (D-IL) today met with members of the Southwest Organizing Project (SWOP) to discuss the state of the foreclosure crisis on Chicago’s southwest side and to discuss a several legislative proposals he is considering introducing in the Senate this fall. One proposal would give homeowners facing foreclosure the right to temporarily remain in their homes by paying fair-market rent to the bank, another would provide funding to support mandatory arbitration programs in which homeowners and banks sit down face to face to work out loan modifications, and a third would extend the tax credit for first time home buyers enacted earlier this year to further reduce excess housing inventory that is dragging down sale prices.

CHICAGO, IL - August 31, 2009 - (RealEstateRama) -- Governor Pat Quinn today urged seniors and people with disabilities to take advantage of tomorrow’s early application date for winter heating assistance through the Low Income Home Energy Assistance Program (LIHEAP). “Seniors and individuals with disabilities are especially vulnerable to the cold weather,” said Governor Quinn. “I encourage people to apply for assistance through LIHEAP so that they can stay safe, warm and healthy this winter.

CHICAGO, IL - August 25, 2009 - (RealEstateRama) -- Governor Pat Quinn signed the Intermodal Facilities Promotion Act, which is designed to encourage business development along the freight rail systems of Illinois. Based on experience with their existing Elwood facility, CenterPoint Properties projects 7,000 permanent new jobs being brought to Illinois through an intermodal facility in Joliet

SPRINGFIELD, IL - August 21, 2009 - (RealEstateRama) -- August 20, 2009. On behalf of Governor Pat Quinn, The Illinois Department of Commerce and Economic Opportunity (DCEO) today released guidelines for individuals and businesses interested in applying for state energy grants. Last week, Governor Quinn announced that the U.S. Department of Energy had approved Illinois’ State Energy Plan (SEP), which will make over $100 million in federal recovery funding available for grants in Illinois.

SPRINGFIELD, IL - August 21, 2009 - (RealEstateRama) -- July registered another month of positive signs in the Illinois housing market with home sales about even with July 2008 totals as well as six consecutive month-to-month sales increases for both the state as a whole and the Chicagoland PMSA. According to the Illinois Association of REALTORS® latest report, statewide total home sales (which include single-family and condominiums) in July 2009 reached 11,407 homes sold, off a slight 0.1 percent from July 2008 sales of 11,417; sales were up 4.2 percent from 10,944 homes sold the previous month of June 2009.

CHICAGO, IL - August 17, 2009 - (RealEstateRama) -- August 15, 2009. In an effort to help struggling homeowners, Governor Pat Quinn today announced an outreach program to give Chicago area homeowners face-to-face guidance when applying for lower mortgage payments through President Obama’s Making Home Affordable Program.

SPRINGFIELD, IL - August 11, 2009 - (RealEstateRama) -- Pent-up demand plus affordable prices, low interest rates and the tax credit incentive provided a substantial boost to the Illinois housing market in the second quarter, according to the Illinois Association of REALTORS® (IAR). Statewide total home sales (which include single-family and condominiums) increased by 61.8 percent in the second quarter of 2009 to 27,531 homes sold compared to 17,017 homes sold in the first quarter of 2009. Sales were down 16.4 percent from second quarter 2008 sales of 32,949.

July 24, 2009 - (RealEstateRama) -- The House unanimously approved an amendment offered by Congressman Aaron Schock (R-IL) today to H.R. 3288, the Fiscal Year 2010 (FY 10) Transportation, Housing and Urban Development Appropriations Act.

CHICAGO, IL - July 23, 2009 - (RealEstateRama) -- First-time homebuyers in Illinois now have an opportunity to take advantage of current low-interest rates and decreasing home prices under an innovative new program offered by the Illinois Housing Development Authority (IHDA). The Illinois Home Start Loan Program allows hundreds of residents to achieve the dream of homeownership through a new 30-year fixed rate loan, and an advance loan on the federal tax credit created by the American Recovery and Reinvestment Act of 2009