Highland Park-based Community Partners for Affordable Housing will ask aldermen Monday to spend $579,000 in federal and city funds to purchase and rehabilitate two affordable rental housing units in Evanston.
Specific properties to be purchased have not yet been identified, but the project is targeting three small neighborhoods as possible sites.
One is in south Evanston between Madison and Monroe streets from Asbury to Custer avenues. A second is in west Evanston between Darrow and Dodge avenues from Lee to Grove streets. The third is in northwest Evanston bounded by Forestview Road and Ewing Avenue and Grant and Payne streets.
As proposed by city staff, the project would use $252,662 in federal HOME funds. Some of that money has to be committed by the end of July.
The rest of the funding would come from the city’s affordable housing trust fund.
A staff memo says the goal of the project is to secure two three-bedroom units that could be rented to larger households whose incomes are between 60 and 80 percent of area median income.
Under the proposal, the tenants would end up paying $1,000 a month in rent for each unit, and CPAH would pledge to keep the properties affordable for 99 years.
Editor’s note: An earlier version of this story mistakenly said the rent per unit would be $1,200 a month. It’s actually to be $12,000 a year, or $1,000 a month.