An announcement could come as early as this week on whether new housing will be coming to Danville’s downtown area. The Housing Authority of Danville earlier formed a non-profit group in order to apply for tax credits through the Illinois Housing Development Authority.
Jaclyn Vinson, Executive Director of the Housing Authority of Danville, is optimistic about chances of getting $15-million dollars in new housing downtown.
The Illinois Housing Development Authority is expected to announce by the end of the month which projects will get support in the form of low-income tax credits. The non-profit group from Danville applying for the tax credits consists of the same people who serve on the local Housing Authority Board.
The application which was submitted earlier seeks tax credits to help with the construction of 64 units in Danville’s downtown area. Twenty-percent of the units would be market rate units, meaning there is no income limits.
Vinson noted earlier that there are already other examples of housing in Vermilion County where the tax credit process was used. One of them is the New Holland Apartments in downtown Danville which were renovated using tax credits. Another is the Prairie Meadows Development in Hoopeston.