Archdiocese launches affordable housing initiative

  

November 23, 2009 (CHICAGO) (WLS) -- Cardinal Francis George has announced a $500,000 investment by the archdiocese in affordable housing initiatives.

Chicago's archdiocese is partnering with the Resurrection Project, a non for profit organization.

The initial investment by the archdiocese will provide additional money to help with development... Construction... Marketing... And promotion of units built by resurrection project. It will benefit low to moderate income families and individuals.

"There is as you all know also a dramatic need in our city neighborhoods for this kind of development. These are neighborhoods that are very old, the housing is not in good shape so a lot of money has to be invested," said George.

The archdiocese will also set aside an additional $2.3 for not-for-profit developers of affordable housing to use as a revolving loan fund.

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