ROCKFORD — The Rockford Community Investment Fund is working to make improvements to homes across the city, specifically those in low to moderate income neighborhoods.
The fund was created by the Rockford Local Development Corporation and provides loans to contractors and investors looking to make the improvements.
Since starting last year, the fund has provided more than 60 loans to those community members working to make those improvements.
Tuesday they unveiled their newest renovation, home on Tatum Road.
“With all the blighted communities in the area, this is just a great improvement in the neighborhood and I think it benefits everyone in the city,” neighbor Leslie West said.
And a priority for the executive director behind the Rockford Community Investment Fund is keeping neighborhoods in good shape.
“There are a lot of blighted homes that need to be rehabbed. We’re trying to preserve the, preserve the neighborhoods. Keep them from getting into further disrepair,” Executive Director, Tom Sandquist said.
Rockford Mayor Tom Mcnamara was at the unveiling Tuesday. He said he’s hoping more of these projects can bring a boom to the housing market.
“We need more homes on the market and we need more high-quality homes for home ownership and rental opportunities. And so, through the RCIF, this takes those distressed properties that really, they’re on the market but they’re not very attractive,” McNamara said.
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