CHICAGO – Gov. Rod R. Blagojevich today announced more than $921,000 in funding for the rehabilitation of 27 owner occupied homes in Bond County.  These home improvements will drastically enhance the living environments and quality of life for low-income and disabled residents in the Bond County, as well as building the capacity for more economic growth.  This aggressive effort to improve living conditions for the region’s most underserved residents is part of the Governor’s Opportunity Returns initiative, his comprehensive, pro-active strategy to continue creating better jobs for more people throughout Southwest Illinois.

“The fundamental goal of Opportunity Returns is to expand greater economic opportunity to the people across Southwest Illinois.  But if people are struggling to meet their basic survival needs, the opportunity for economic advancement is only a dream.  By refurbishing these homes in Greenville and Sorento, and creating a safer place to live, we’re helping meet the essential needs of these hardworking men and women so that they can build better lives,” Gov. Blagojevich said.
   
The funds for this initiative are part of the Community Development Assistance Program (CDAP), a federally-funded grant program that assists Illinois communities by providing grants to local governments to help them in financing economic development, public facilities and housing rehabilitation projects.  The program is targeted to assist low-to-moderate income people by creating job opportunities and improving the quality of their living environment.  The Illinois Department of Commerce and Economic Opportunity (DCEO) administers the program.  The Illinois Housing Development Authority will match the funds with additional state funding of $227,500 from the Illinois Affordable Housing Trust Fund to assist the 27 homeowners across Bond County.
 
Gov. Blagojevich has developed the following objectives for the CDAP program:

Strengthen community economic development through the creation of jobs, stimulation of private investment and strengthening the tax base;Improvement of public infrastructure and elimination of conditions which are detrimental to health, safety and public welfare; andConservation and expansion of the state's housing stock in order to provide a decent home and a suitable living environment for persons of low-to-moderate income and the developmentally disabled.

These grants being provided to Bond County fall under the third objective.  It is designed to help provide safe and sanitary living conditions for low-to-moderate income residents.  

LOCATION	DESCRIPTION	CDAP FUNDS	TRUST FUND CONTRIBUTION
City of Greenville, Bond	Rehabilitate 14 owner occupied homes	$343,980	$117,964
Village of Sorento,  Bond	Rehabilitate 13 owner occupied homes	$349,830	$109,538
	Total:	$693,810	$227,502

In 2005, the Governor’s 35-member Housing Task Force consisting of advocates, developers, lenders, and state agency representatives developed Building for Success: Illinois’ Comprehensive Housing Plan.  The plan was Illinois’ first statewide housing plan to strategically target spending earmarked for affordable housing at several state agencies to help six priority populations including low-income families, seniors, people with disabilities, and those living in existing affordable housing that are in danger of becoming unaffordable.  The State’s two subsequent housing plans: On the Road to Success and Affordable Housing Dimensions build on the work of the first plan and highlight how the Governor’s vision is already reshaping affordable housing in Illinois.

Since 2003, the State has helped more than 40,000 low and moderate income families and individuals across Illinois become homebuyers, rehabilitate their homes and find affordable rental accommodation with more than $2.7 billion in financing.  Of these, 1,990 families and individuals live in the Southwest region and received funding totaling $93.6 million.

“These Opportunity Returns grants are a great example of how innovative partnerships between state and local government can accomplish key objectives that make an immediate and tangible impact in individual communities.  More than $921,000 will be invested directly into improving the local housing stock in Greenville and Sorento.  These are investments that will improve the foundation of this community and position it for more economic growth in the near future,” DCEO Director Jack Lavin said.

Gov. Blagojevich’s Opportunity Returns regional economic development strategy is the most aggressive, comprehensive approach to creating jobs in Illinois’ history.  Since a one-size-fits-all approach to economic development just doesn’t work, the Governor has divided the state into 10 regions – each with a regional team that is empowered and expected to rapidly respond to opportunities and challenges.  Opportunity Returns is about tangible, specific actions to make each region more accessible, more marketable, more entrepreneurial and more attractive to businesses.  It is about upgrading the skills of the local workforce, increasing the access to capital, opening new markets, improving infrastructure, and creating and retaining jobs.  Opportunity Returns is about successfully partnering with companies and communities, both large and small, to help all of Illinois reach its economic potential.