MARION – January 14, 2010. Governor Pat Quinn today announced that $7.5 million in state and federally- backed funding efforts will help back construction of the River to River Residential Community of Marion. The supportive living facility will offer an alternative to nursing home care for low-income seniors and create up to 35 jobs during construction and 20 permanent jobs once it is complete.
The Illinois Finance Authority (IFA) provided $5.7 million in tax-exempt bond financing to build the facility. An additional $1.8 million in American Recovery and Reinvestment Act (ARRA) funds, provided through the Illinois Housing Development Authority (IHDA), helped to leverage more than $2 million of equity for the development.
“The River to River Community of Marion offers people in Southern Illinois the option of maintaining their independence while still having access to round-the-clock care when they need it,” said Governor Quinn. “I am happy to announce the important federal investment and state backing that made this project a reality.”
Illinois’ Supportive Living Program offers an affordable alternative to nursing home care for low-income seniors age 65 and older, as well as persons age 22 and older who have physical disabilities and are enrolled in Medicaid. By combining apartment-style housing with personal care and other health and wellness services, residents can live independently, emphasizing residents’ personal choice, dignity, privacy and individuality.
River to River is among the first housing developments in Illinois to break ground as a result of IHDA’s $1.8 million ARRA financing, which is aimed at jumpstarting construction on previously-stalled federal low-income housing tax credit developments. With the contraction of the credit market, traditional investors have steered away from this market, driving down the value of tax credits. In response to the current economic climate, the new federal dollars provide the financial incentive needed to spur development.
River to River Residential Community will contain 50 apartments. Residents can choose from a combination of single and double occupancy apartments. The facility will also house management offices, a computer room, a hair salon, a resident-managed convenience store, an exercise room, as well as a rose garden and walking path.
Currently, there are 118 operational supportive living facilities in Illinois, with an additional 27 approved for construction by the Department of Healthcare and Family Services. For more information about supportive living, please visit www.slfillinois.com.