However, the total multifamily pool in the Lawrence-Kedzie TIF-NIF is $250,000. In addition to the $100,000 maximum rebate, the program has a $10,000 per unit cap. To receive funds, owners will have to set aside at least 30% of their building's units for households with incomes 50% or less than the area median.
"The program has been so successful that by expanding it we can provide much-needed help to homeowners of low and moderate incomes and contribute to the revitalization of entire neighborhoods," says city housing commissioner Jack Markowski. "We also have a great opportunity to help keep this area affordable by assisting owners of multi-family buildings make needed improvements to their properties."
Eligible improvements include new roofs, gutters, down spouts, siding, masonry work, tuck pointing, new windows, doors and porches, painting, concrete work, exterior lighting and wrought iron fencing, according to the city. Albany Park Community Center will administer the grants within the TIF district.
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