10/2/2009
PUBLIC NOTICE: SFOOR
TO: Notice to City of Bloomington Residents
FROM: Sharon Walker
Community Development Division,
City of Bloomington
PH: 309-434-2342
FAX: 309-434-2801
Email: swalker@cityblm.org
SUBJECT: Single-Family Owner-Occupied Rehabilitation (SFOOR) Grant Application
The City of Bloomington, Community Development Division intends to submit a grant application October 9, 2009, to the Illinois Housing Development Authority (IHDA) for the receipt of HOME funds for participation in the Single-Family Owner-Occupied Rehabilitation Program (SFOOR). This program provides for rehabilitation activities to income eligible households within the City of Bloomington. Loans will be a five or ten year "forgivable loan" (depending on the amount borrowed). The owner-occupant may borrow a minimum of $4,000 up to a maximum of $40,000.00. If successful, funding awards will be made in April, 2010.
Please note, that if the City is awarded funding for the SFOOR Program, it would allow for the reallocation of CDBG funds. Community Development Block Grant (CDBG) Funds budgeted for rehabilitation activities could now be budgeted to other high priority needs in our community. We will not completely eliminate the CDBG funded rehabilitation program but we will reduce this program's funding, in order that other needs may be served.
