This program has reached capacity. We are not currently accepting applications.
The Rental Rehab program makes available $20,000 per unit up to 10 units for City of Kankakee landlords to help improve their property. This is a five year forgivable loan program. To receive a copy of the application and to have any questions answered, please contact or visit the ECDA office.
Once a project is approved, an interview will be scheduled with the property owner. Property Owners will be contacted through the following process:
The annual gross income of each participating tenant's household must be less than or equal to 80 % of the area median income. The IRS definition of adjusted gross income (as defined on IRS Form 1040), will be used to determine eligibility. The annual income of the tenants must be less than or equal to the limits established for the appropriate household size. These limits may be revised from time to time
Whatever criteria is utilized by the Program's Administrator, will be utilized for all landlord applicants. Rejection of a participating landlord may be based on one or more criteria. Each rejected applicant will be promptly notified in writing of the reason(s) for rejection.
When you apply to Economic Community Development Agency (ECDA), the staff will review your application along with all of requested documentations.
Following approval of your proposal by the (ECDA) Economic Community Development Agency, a Conditional Commitment Letter will be sent to you. This Letter details the terms of the program as approved by (ECDA) Economic Community Development Agency, and lists the steps you must take before starting work. The work can occur only after all required documentation is submitted by you and approved by (ECDA) Economic Community Development Agency. All legal documents are signed at the pre-construction meeting. No construction or program implementation may begin prior to this time. (ECDA) Economic Community Development Agency, has no obligation to provide funds for your project until after all documents have been signed by both parties. After work is complete in full, funds will be provided as specified in the pre-construction documents.
Submit the entire application package, including a copy of all documents to:
Economic Community Development Agency
200 E. Court Street, Suite 410
Kankakee, IL 60901
The minimum level of RRP funds to be used for rehabilitation is $2,000 multiplied by the number of RRP assisted units in the project. The maximum RRP investment is $20,000.00 per unit. This figure is applied as an average amount of RRP funds provided per each assisted unit in the project.
All Landlord must attend a workshop that is given by the police department on how to be a good landlord and also be in good standing with building and code department.
RRP funds must be provided as loans to property owners with the following minimum terms and recapture provisions: a 0% interest loan, deferred and forgivable at the end of five (5) years.
ECDA requires a five-year affordability period for rental properties receiving up to $20,000.00 per unit in assistance. For this period, rent and income restrictions apply. These restrictions remain in place for the affordability period, even if the loan is repaid by the owner during that period.
The property owner will provide ECDA with sufficient information to determine the participating tenants' apparent eligibility for the Program. Each property owner must obtain the following from all participating tenants: 1) Tenant Profile Form with Certification of Income; and 2) Verification of Income for participating tenants.