CHICAGO - June 10, 2010. Governor Pat Quinn today opened the Rosea Parks Apartments, newly-built rental property that will provide affordable homes for 94 families. The multi-million dollar project was funded in part by $9.8 million from the Federal American Recovery and Reinvestment Act (ARRA) and $2.2 million in state funds from the Illinois Housing Development Authority (IHDA) and the Illinois Department of Commerce and Economic Opportunity (DCEO).
Governor Quinn today also signed into law an initiative to help homeowners facing foreclosure across Illinois. The Illinois Homeowner's Emergency Assistance Program Act allows eligible homeowners who undergo HUD - certified counseling to apply for up to $6,000 - or three months - of mortgage payments, whichever is less. The pilot program ends on January 1, 2011, and lenders must agree to renegotiated terms.
