Community, Household, Local, Park Forest

Village Offering Residents Forgivable Loans for Roof Repairs

house with new roof
Income-eligible residents can secure a forgivable loan for roof repairs. (VOPF Image)

Park Forest, IL-(ENEWSPF)- Income-eligible Park Forest residents may access forgivable loans of up to $21,500 to make roof repairs, including gutters, rafters, fascia, soffits, and downspouts. An information session is on Wednesday, May 24 from 6 p.m. to 8:30 p.m. at the Village Hall, 350 Victory Drive. The window to apply for a loan begins May 30 and goes through June 2.

To qualify, residents must own and occupy a single-family home in Park Forest. Applicants cannot exceed 80% of the area median income (AMI) with preference given to those at or below 50%. The AMI varies by county and the number of people in the household. As an example, the 80% threshold for a family of four in either Cook or Will County, is $83,350. The 50% threshold is $52,100.

The loan is forgiven in monthly installments over three years but must be repaid in full if the house is sold before five years from when the work is completed.

Governor Pritzker announced the $15.3M Home Repair & Accessibility Program (HRAP) in April. Park Forest applied for a grant through the Illinois Housing Development Authority (IHDA) and received an award of $400,000.

Licensed roofing contractors will perform all work.

Residents in need of roof repairs should attend the information session to get more details about the program and their eligibility. There is information on the village website. Interested residents may also email [email protected] with questions.