Community Development Block Grant (CDBG): The CDBG program is a flexible program that provides communities with resources to address a wide range of unique community development needs. Beginning in 1974, the CDBG program is one of the longest continuously run programs at HUD. The CDBG program provides annual grants on a formula basis to 1180 general units of local government and States. Will County is an Entitlement Community and a recipient of CDBG funds annually.
CDBG NATIONAL OBJECTIVES
Funds must be used to carry out activities that will meet one of the three broad National Objectives: benefit low and moderate-income persons; aid in the prevention or elimination of slums or blight; or meet other community development needs having a particular urgency.
Home Investment Partnership Program (HOME): HOME is the largest Federal block grant to State and local governments designed exclusively to create affordable housing for low-income households. Each year it allocates approximately $2 billion among the States and hundreds of localities nationwide. Will County is a Participating Jurisdiction and a recipient of HOME funds annually.
Homebuyers Program: NSP was born out of the Housing and Economic Recovery Act of 2008. Its intent is to help stabilize areas that have been hit hard with foreclosures by allowing Municipalities and other Government entities to: purchase homes that have been foreclosed upon, rehabilitate, and re-sell these properties to qualified home buyers. Unfortunately, available funds have dwindled to a point where the Neighborhood Stabilization Program no longer has sufficient funds to pursue new acquisitions. However, in its place, Will County is pleased to introduce its new homebuyers assistance initiative: the Foreclosure Stabilization Program (FSP). FSP is the County's next generation homebuyer assistance program. Ther primary source of funding for this program is from the Attorney General's Foreclosure Settlement Fund. These funds will be used to acquire/rehabilitate and ultimately provide down payent assistance to eligible FSP home buyers. Although FSP is replacing the NSP program as the County's current homebuyer assistance initiative, income eligibility requirements will remain the same for FSP with the Household Income participants needing to be at or below 120% AMI. Previously approved NSP buyers will be grandfathered in for eligibility with FSP as long as they bring their income/mortgage pre-approval information current. There are a few other distinctions between FSP and NSP, specifically regarding eligible target areas for acquisition and new homebuyer assistance subsidy criteria. Please see the FSP Homebuyer Information Frequently Asked Questions Document for more detailed information regarding this program. If interested in applying for Will County's FSP Program, please fill out the Will County FSP Application Packet and return all applicable documentation to Tim Mack. Tim can be reached at 815.774.7892 and will be happy to address any Program related questions.
Emergency Solutions Grant (ESG) -To see if you qualify or to learn more about the program please contact Will County Center for Community Concerns at www.wcccc.net or call 815-722-0722.
CDBG/HOME Application Cycle
The Will County grant cycle is October 1st to September 30th. When grant funds are awarded to the County for CDBG and HOME, Request for Proposals (RFP's) are made available for competition. Below is a general outline for the grant cycle. Applicants should check announcements or contact Grant Administration for specific dates.
March: RFP release
April: Technical Assistance workshop for potential applicants
May: RFP submittals due
June/July: Advisory Board meeting regarding submittals, Public Hearing, Board approval of staff recommendations for funding
August: Award announcements
October: Grant cycle begins