Mission Driven…

Create strong, sustainable, inclusive communities

and quality affordable homes for all;

Strengthen the housing market to bolster the

economy;

Meet the need for quality affordable rental

homes;

Utilize housing as a platform for improving quality

of life;

Build inclusive and sustainable communities free

from discrimination;

Transform the way the Housing Authority of Joliet

does business

Largest Affordable Housing Manager

in Will County

1,000+ Public Housing Units

• 8 Developments

1,500+ Housing Choice Vouchers

• Throughout City of Joliet and Will County

Innsbruck Apartments, Bolingbrook

• Administering 70 Vouchers

Thornwood House, University Park

• Administering 176 Vouchers

Largest Affordable Housing

Developer in Joliet Poole Gardens Public Housing -106 units;

now Liberty Meadow Estates - 116 units over 2 phases

• Liberty Meadows Phase I - $18 Million

• Liberty Meadows Phase II - $10 Million

Des Plaines Gardens Public Housing – 122 units;

soon to become Water’s Edge -122 units over 2 phases

• Water’s Edge Phase I - $20 Million

• Water’s Edge Phase II - $16 Million (Estimated)

Future Plan to Redevelop Fairview Homes – 168 units over

3 phases

• Estimated cost of $55 Million

Total of 406 Units at $119 Million

Key Components of our Success

Building Partnerships

City of Joliet – Liberty Meadow Estates Phase I & II

Catholic Charities – Saint Anne Residences

(Channahon)

Trinity Services – Hawthorne Lakes (Frankfort)

Volunteers of America – Hope Manor (Joliet)

Stough Group – Wilmington Senior Residences

(Wilmington)

McKenzie Falls LLC – McKenzie Falls (Bolingbrook)

Moline Management Group – Braidwood Senior

Housing (Braidwood)

Key Components of our Success

Collaboration with Support Agencies

Cornerstone Services

Will County Center for Community Concerns

Veterans Assistance Commission of Joliet

Edward Hines VA Hospital

Daybreak Center

Department of Children & Family Services

Our Thoughts for

Evergreen Terrace

Procure a comprehensive affordable housing strategy

• Site Visit

• Develop a Master Plan

• Site and Development Assessment

• Secure market study

• Build consensus

• Identify funding sources

• Execute plan

Financial Considerations for the

Development of Evergreen Terrace

Identify and pursue the most effective sources of funds

• Low-Income Housing Tax Credits

• Illinois Affordable Housing Tax Credits

• Bank Loans (i.e. First Midwest Bank)

• Federal Home Loan Bank of Chicago Affordable

Housing Program (AHP) Grant

• Illinois Department of Commerce & Economic

Development (DCEO) Energy Efficiency Grant

• HOME funds / CDBG

Create an economically feasible solution

Next Steps…

Tough Decisions:

• Acquisition; Management; Redevelopment

Legal considerations – consent decree

• Minimum 115 units within Joliet (not necessarily on site)

• Up to 241 vouchers – portable (HCV)

• Relocation (URA)– cost?

• Community Center – cost? operation?

Management – official request (for HUD review and approval)

Re-development

• Many options available to the City

• Liberty Meadow Estates? Water’s Edge?

Water’s Edge

Liberty Meadow Estates I and II

Core Value

MISSION Driven, Not Profit Driven

Thank You