×

City of Decatur to Receive $125,000 for Revitalization

Dec 22, 2020 | 8:18 AM

December 22, 2020 – The city of Decatur is receiving $125,000 from The Illinois Housing Development Authority Board

The board approved $10 million in funding to support affordable housing and community revitalization efforts across the state. Awarded under the new Strong Communities Program (SCP), the initiative will provide funding to 68 units of local governments and land bank authorities for the acquisition, maintenance, rehabilitation and demolition of abandoned residential properties in their communities.

As a result, the SCP will help address local affordable housing needs and community revitalization efforts for many local governments that lack the capital needed to tackle this blight. The program is funded by the Rebuild Illinois capital plan.

Created in August 2020, the Strong Communities Program provides grants of up to $250,000 to local government agencies to return vacant residential properties to productive and taxable use. A total of $30 million in grant funding will eventually be awarded through multiple funding rounds.
For every dollar spent to address an abandoned and vacant home, the value of homes in the targeted area increases $4.27, according to the Center for Community Progress. By this estimate, SCP stands to increase property values by over $125 million in the aggregate in support of community residents and the local tax base over three funding rounds.
The grants are funded by the Rebuild Illinois capital plan and will leverage IHDA’s ongoing state- and federally-funded initiatives to increase property values, create jobs, help reduce crime, generate additional tax revenue and attract further community investment in underserved communities around the state. A total of $30 million in grant funding will be awarded through the program over three application rounds.