Housing News

For details on any of these programs, call 708.358.5410 or e-mail housing@oak-park.us.

• Down payment assistance…The West Cook County Housing Collaborative is making homeownership more affordable with $10,000 in down payment assistance for select updated and rehabbed homes. Financing and supply of homes is limited. To apply, call the HUD-certified West Cook Homeownership Center at 708.771.5801. An application also is available online at www.WestCookHomeownership.org.
   
• Energy, water efficiency rebates…A new Village program funded by the Oak Park River Forest Community Foundation will offer rebates to help homeowners reduce energy waste and use. The new Energy and Water Efficiency Rebate Program will offer $50 to approximately 50 single-family households to conduct an energy audit and $100 to 100 households to install low-flow toilets. Another 250 households will receive free efficient shower heads and faucet aerators.
   
• Multi-family rehab loans…Owners of multi-family buildings with seven or fewer units may be eligible for forgivable loans of up to $5,000 per unit and an additional $2,500 per unit for qualified energy upgrades under the Village’s Small Rental Rehab Program. Energy funds are available only until March 31.
   
• First-time homebuyer seminars…Individuals interested in learning more about buying a home and securing a mortgage are invited to attend free seminars offered every month by the Oak Park Regional Housing Center. Seminars are held at 7 p.m., the fourth Tuesday of each month in Village Hall, 123 Madison St. The next seminar is Tues., Jan. 22. For more information, call 708.771.5801.
   
• Single-family rehab loans…Loans are available to income-eligible residents to correct health and safety issues and building code violations in their single-family homes. The program offers no-interest loans of up to $25,000 that do not require monthly payments. Loans are repayable after 20 years or when the property is transferred.
   
• Funds for efficiency updates…Oak Park homeowners are eligible for a program that helps pay for upgrades to cut heating and cooling costs by improving energy efficiency. Property owners pay $99 for an energy assessment to identify energy saving upgrades and then Energy Impact Illinois will pay a portion of the cost for the upgrades — as much as $1,750. Officials say homeowners can save an average of $500 per year on energy bills after upgrades such as retrofitting insulation and sealing air leaks. For more information on the program, call 708.348.5410 or e-mail housing@oak-park.us.
   
• Multi-family matching grants…Applications for the Multi-Family Housing Incentives Matching Grant program will be accepted beginning in mid-January. Grants of up to $10,000 are available to improve common elements or individual units in buildings with four or more units. Grants must be matched two-to-one by the owner.