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The Department of Planning and Development also manages affordable housing programs in suburban and unincorporated Cook County.
Cook County currently utilizes HOME funds to support the following eligible activities:
Housing Development Loans
- Single or Multifamily
- Ownership or Rental
- Acquisition, Rehabilitation and/or New Construction
Certified Community Housing Development Organization (CHDO) Grants/Loans
- Operating Grants
- Pre-Development Loans
- Set-Aside Project Loans
A CHDO is a private, nonprofit organization that meets a series of qualifications prescribed in the HOME regulations. Cook County must use a minimum of 15 percent of its annual allocation for housing owned, developed or sponsored by CHDO’s Cook County evaluates organizations’ qualifications and certifies them as CHDOs. Recertification is required. In accordance with program requirements, all HOME activities must benefit low-income households whose income does not exceed 80% of the area median income (AMI). Annual income restrictions apply to rental housing projects with 5 or more HOME-assisted units. A minimum of 25 percent in eligible non-Federal matching resouces is required per project. Contingent upon project type and amount of HOME assistance, long-term affordability periods and monitor requirements may apply.
Neighborhood Stabilization Program (NSP)
Cook County currently utilizes NSP funds to support the following eligible activities noted below. The funds are restricted for use in Suburban and Unincorporated Cook County
Housing Development Loans
- Acquisition and rehabilitation of abandoned or foreclosed residential properties
- Demolition of blighted structures
- Redevelopment of demolished or vacant properties
In accordance with program requirements, all NSP activites must benefit low and moderate income households whose income does not exceed 120% of the area median income (AMI). In addition, at least 25% of allocated funds must be utilized for the benefit of households whose income does not exceed 50% of the AMI. Contingent upon project type and amount of NSP assistance, long-term affordability periods and mointoring requirements may apply.
Click here to view reports published online required by the NSP Program.
Affordable Housing Website
Take a few minutes and view the latest NSP homes posted on our Affordable Housing Website.
Request for Applications (RFA)
Bureau of Economic Development, is soliciting applications for funding under both the Neighborhood Stabilization Program (NSP) and the Home Investment Partnerships (HOME) Program for multifamily rental housing to be developed in target communities in Cook County, Illinois. Cook County Government (“County”) is the recipient of funding from the U.S. Department of Housing and Urban Development (HUD) and is interested in seeking viable development partners to address the negative impacts of foreclosed, abandoned and vacant rental housing in the county.
This Request for Applications (RFA) describes the process for individual project applications to be submitted to the County for review and possible funding approval. Both the NSP and HOME Programs have specific requirements and limitations with regards to the rent levels that can be charged for an assisted unit, along with income restrictions for tenants who occupy those units.
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The funding application and associated requirements for submission can be found by clicking the following links listed below:
Pro Forma – Underwriting Template - Please download this spreadsheet to your computer and open. Please do not open this file in your browser. Since the file is 7MB, it may take a minute to download.
Sample Tenant Roster – Please download to your computer and open. Please do not open this file in your browser.
If you have questions, please contact Lesa Carey at: email@example.com
Click here to view other items in our Archive.
Contact UsCook County Bureau of Economic Development
69 W. Washington St
Chicago, IL 60602
312-603-1077 or 1000 (o)
E-mail us at: Info.Edev@cookcountyil.gov
Scan the QR Code with your smartphone for a map and directions.
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