Loan program proposed to help restore Chain Shoreline

Residents living along the Chain O' Lakes could be in line for low-interest loans to pay for shoreline restoration.

The money may be available this summer, says state Sen. Michael Bond. The announcement of Bond's effort to secure $2 million in state funds for the project came at a news conference Monday morning at the Port of Blarney in Antioch.

The deal is far from done, but Bond expressed confidence it will happen.

"We are here to announce another success and team effort to improve the Fox Waterway system," Bond said. "It's an enormous ecosystem, that is essential to the local economy."

The money will be used to replace vertical sea walls with rocks and organic material that experts say is best to fight against erosion.

If passed by the General Assembly, funds will be given to the Illinois Department of Natural Resources, who would then pass them on to the Fox Waterway Agency. The agency will administer loans to 250 homeowners to make the needed improvements. The average loan would be $8,000 with a four- to six-year payback. The interest rates haven't been determined, but Bond said they would be "low interest and hassle-free."

Grass Lake resident Ken Thomas attended the announcement. He expressed both hope and skepticism.

"I'd like to really see the money, but where is it coming from?," Thomas said. "At least somebody is trying to do something."

Bond, a Grayslake Democrat representing Illinois' 30th state Senate District, will face Republican Suzi Schmidt, currently the Lake County Board chairwoman, in the November election.