IHDA-HOME PRESERVATION GRANTS

Amends the Illinois Housing Development Act. Provides that from funds appropriated, directly or indirectly, from moneys received by the State from the Coronavirus State Fiscal Recovery Fund in accordance with the American Rescue Plan Act of 2021, the Illinois Housing Development Authority (Authority) shall expend funds to create a Senior Home Preservation Grant Program to provide grants to legacy resident seniors to preserve the safety of their homes. Provides that grants may be used for housing owned by a legacy resident senior to reduce the cost of repair and rehabilitation, to remove or correct health or safety hazards, to comply with applicable housing standards or codes, or to make needed repairs to improve the general living conditions of the legacy resident senior, including improved accessibility for seniors with disabilities. Requires applicants to apply to the program in a form and manner prescribed by the Authority. Provides that, to qualify for a grant, the applicant must, at a minimum, be the owner of the home and use the home as his or her primary residence. Permits the Authority to establish minimum housing standards applicants must meet to qualify for a grant under the program. Provides that the Authority may adopt rules to implement the program. Provides that expenditures of funds provided under the authority of the American Rescue Plan Act of 2021 shall be in accordance with the permitted purposes under the American Rescue Plan Act of 2021 and all related federal guidance.