April 18, 2013

Chicago awarded $30M HUD grant for loan program

CHICAGO — The Cook County government will receive at least $30 million from the U.S. Department of Housing and Urban Development Department to create a loan guarantee program to bolster real estate development in areas near existing rail transit lines, according to the Northwest Times.

The program is meant to make it easier for entities interested in developing real estate to receive low-interest loans, if the projects are within proximity — defined in most cases as within a half-mile — of transit lines. For the full story, click here.

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