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posted: 7/26/2013 5:49 PM

Affordable housing rehab in Grayslake:

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Daily Herald report

Tax credits will be used to preserve affordable housing in Grayslake and other suburbs through a state agency's initiative. The Illinois Housing Development Authority Board recently approved the allocation of federal tax credits generating an estimated $62.2 million in private equity to create more than 620 new and refurbished affordable rental units and generate more than 930 jobs across Illinois. The rehabilitation of the affordable 84-unit Lakewood Village in Grayslake will be for working families and will include energy-efficient upgrades such as Energy Star appliances, a new computer room and community gardens. "Our communities improve as a whole when our low- to moderate-income residents have housing stability. Additionally, these developments will benefit the economy by creating jobs," agency Executive Director Mary R. Kenney said.

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