The Kane County sheriff's office processed more than 500 foreclosures in the first quarter of the year. Some of those might find new life as affordable housing through nearly $1.4 million in federal funds the county will sink into redeveloping foreclosed homes in 2014.
The money is part of $2.59 million in federal money the county will receive this year through the Community Development Block Grant and HOME programs.
Kane County grant projectsHow Kane County plans to spend $2.59 million in Community Development Block Grant/HOME funds:
1. $1.39 million for foreclosure redevelopment
2. $276,509 for repair of Carpentersville streets and sidewalks
3. $250,269 for administrative costs, including staff salaries
4. $225,000 for relocation of a water main in North Aurora
5. $165,765 for housing rehab assistance to local homeowners
6. $50,968 for repair of Ecker Center parking lot (Elgin)
7. $41,625 for construction of additional space for Northern Illinois Food Bank (Geneva)
8. $38,160 for operational support to Lazarus House homeless shelter (St. Charles)
9. $36,000 for installation of sidewalks along Fulton Street in South Elgin
10. $30,240 for operational support to PADS homeless shelter in Aurora
11. $27,000 for operational support to PADS homeless shelter in Elgin
12. $25,000 for homeownership counseling for people facing foreclosure
13. $21,800 for homeless management database to track services
14. $10,000 for creation of redevelopment plan for Fox River corridor in Batavia
Total: $2.59 million
SOURCE: Kane County
The program is part of what is a two-pronged approach to addressing the local foreclosure crisis.
The county partnered with the city of Elgin to help fund renovation of what is now the Elgin ArtSpace Building in what is possibly the most visible success of the county's efforts so far.
The county has also implemented a foreclosure mediation program designed to keep homeowners from losing properties through successful negotiations with their lenders.
Foreclosures in Kane County hit a peak in 2012 with 4,552. This year, estimates project as many as 3,750 additional foreclosures, but the number of foreclosure sales through the sheriff's office have seen a downward trend so far this year.
There were 235 sales in January, 156 in February and 128 in March.
Creating affordable housing is the county's No. 1 priority for the federal funds it receives through the two programs, but local communities will also see help with infrastructure projects.
The proposed list for funding through the county still awaits final approval by the full county board. However, projects in Batavia, Elgin, North Aurora and Carpentersville are all in line for funding.