Peoria Opportunities Foundation Hosts Virtual Groundbreaking For New Homes

Press release from the City of Peoria:

May 26, 2020

Peoria Opportunities Foundation is hosting a virtual groundbreaking for thirty affordable rental units including twenty single-family homes and five duplexes in the East Bluff neighborhood on Wednesday, May 27, 2020 at 11:00 AM.

These new developments, spearheaded by Executive Director Jane Genzel, aim to provide quality and affordable housing to income qualified renters. Peoria Opportunities Foundation is in the East Bluff and plans to manage the rental properties while connecting residents to resources in the community. “The East Bluff is made up of homeowners and renters. A program like this will offer great quality rental housing that can be a real stabilizing factor in the community,” said Third District Councilman Tim Riggenbach.

This project was made possible through a combination of tax credits, grants, and donations including funding from the City. This funding includes $300,000 allocated from the East Village Growth Cell TIF fund and $560,077 from the city of Peoria’s HOME Investment Partnership Program funding. HOME funds are a part of a federal grant program that provides funding to states and municipalities on an annual basis to be used exclusively for affordable housing initiatives and projects.

Peoria Opportunities Foundation is a nonprofit organization located in the East Bluff neighborhood developing affordable housing with an emphasis on developing self-sufficiency and economic wealth for low-income families and individuals. Their recent efforts have included renovating fourteen homes in the East Bluff neighborhood and selling the homes to income qualified families.

For more information on the city of Peoria Community Development Grants Management division, please visit www.peoriagov.org/community-development/neighborhood-development-services.

This press release was produced by the City of Peoria. The views expressed here are the author’s own.