 |
Community Development
(847) 251-2700
comdev@wilmette.com
Community
Development
Housing
| Accessory Living
Units | Housing Assistance Program |
| Community Development Block Grant | Village
Green Atrium | Senior Housing List |
| Mortgage Credit Certificate | Reverse
Mortgages |
Through the Housing Commission, assistance is given to eligible residents to pay rent, mortgage, or property tax expenses.
Do you meet the following requirements?
- Must be at least 62 years old or a disabled head of household
- Annual income limited to: $26,400 for a single person $30,150 for two people
- Assets limited to $50,000
- Must be a Wilmette resident for preceding 2 years
- All applicants meet with members of the Housing Commission annually
- Assistance is equivalent to $2400 annually
- Funding for 40 applicants
For more information, call Kara Breems at 853-7522
Community Development Block Grant Program
Through Cook County, the Village offers no-interest loans to low income residents for rehab work and the correcting of building and safety code violations. Examples of work that can be done includes replacing furnaces, water heaters, roofs, siding, windows, upgrading electrical and plumbing piping and fixtures, drywall and plaster patching, and painting.
Do you meet the requirements?
- Annual household income is limited by HUD guidelines based on household size.
- Household assets under $50,000.
- Own and reside in home for a minimum of two years prior to application.
- Single family homes, two, three, and four flats, and townhouses are eligible.
For more information, call the Community Development Department at (847) 853-7522. All inquiries are confidential.
Formerly the site of the Curtis Curling Center, this structure was converted into a 35 unit condominium building for senior citizens in 1983. The building is unique for its architectural design which includes a two story atrium greenspace surrounded by condominium units on two floors. Kitchen windows have a view into the atrium, while balconies and exterior patios overlook Howard Park and Ridge Road.
THE CONDOMINIUM UNITS:
The building contains 25 one bedroom units and 10 two bedroom units. A typical one bedroom unit is 780 square feet in size containing a 19' by 12' living/dining room; a 9 1/2' by 9 1/2' kitchen including refrigerator, electric range, dishwasher, and garbage disposal; a 15' by 11' bedroom; a 10' by 4 1/2' ceramic tile bath and large walk-in storage closet. A typical two bedroom unit is 980 square feet in size. Room sizes are approximately the same as in the one-bedroom units, with the addition of a second bedroom, 12' by 10' in size.
Each unit is individually heated and air conditioned. The units are carpeted throughout the living, dining, bedroom, and entry areas. For information, contact Kara Breems at (847) 853-7522 (TDD 853-7634).
The building has an automatic sprinkler system and smoke detectors. Abundant closet space has been provided. There is a common laundry, garbage collection area, a glass enclosed elevator, and a security entrance system. Each owner has an outdoor parking space in the private lot.
MANAGEMENT AND EXPENSES:
The condominium owners elect a President and Board of Directors to oversee the management of the building. Monthly assessments offset the cost of common expenses. At the present time, the monthly assessment for a one bedroom unit is $147.50. Two bedroom unit assessments are based on the square footage of the unit and average$174 monthly. In addition to the monthly assessment, each owner is responsible for real estate taxes which are estimated between $800 -$1,000 a year for one bedroom units and $1,000-$1,500 a year for two bedroom units. Residents may also be eligible for the Homeowner's/Homestead Exemptions. Contact the New Trier, Skokie, or Chicago Assessor's Office for more information.
THE PURCHASE OPTION, UNIT PRICES AND THE WAITING LIST :
The developer of the Village Green Atrium purchased the property from the Village of Wilmette, with the agreement that the objective of redeveloping this site was to provide multi-family housing for Wilmette senior citizens, with preference given to those of low to moderate incomes.
To assure the realization of this objective, several procedures, guidelines and restrictions were placed into Article 8 of the Condominium Declaration. Three of the most important facets of Article 8 are:
(1) Each owner (including future owners) of a unit at the Atrium grants the Village of Wilmette the first option to purchase their unit in the event that the owner intends to transfer ownership or lease the unit, in the event of the owner's death or a court ordered sale of the unit.
(2)The price which the Village of Wilmette ("The Resale Entity") will pay for each unit is based on a predetermined formula, not on the free market value of other similar units in the community. Generally speaking, this "Formula Price" takes into account the original purchase price of the unit appreciated over the number of years it is occupied and also the value of permanent improvements depreciated at 10% per year during occupancy. This provision was included in the Condominium Declarations in order to control the future escalation of prices at the Atrium. It is intended to provide for a reasonable return to the original owners while maintaining the cost within a range which is expected to be affordable to subsequent low and moderate income elderly buyers.
(3) Finally, when the Village purchases a unit at the Atrium, it is bound by the Declarations and a Resolution of the Board to sell the unit to a "Permitted Occupant" in accordance with a "Marketing Priority Schedule." To accomplish this purpose, the Village maintains a waiting list of interested buyers. Fourteen priority categories of permitted occupants have been established. The age limit for residents and those on the waiting list is 62 years. The categories are broken down as such:
| Category | Residency | Annual Income |
| 1 | Current Wilmette Resident | Less than $12,000 |
| 2 | Current Wilmette Resident | $12,001-$24,000 |
| 3 | Current Wilmette Resident | $24,001-$36,300 |
| 4 | Current Wilmette Resident | $36,301 and Over |
| 5 | Former Wilmette Resident | Less than $12,000 |
| 6 | Former Wilmette Resident | $12,001-$24,000 |
| 7 | Former Wilmette Resident | $24,001-$36,300 |
| 8 | Former Wilmette Resident | $36,301 and Over |
| 9 | Parent of Wilmette Resident | Less than $12,000 |
| 10 | Parent of Wilmette Resident | $12,001-$24,000 |
| 11 | Parent of Wilmette Resident | $24,001-$36,300 |
| 12 | Parent of Wilmette Resident | $36,301 and Over |
| 13 | On-Site Caretakers | |
| 14 | No Wilmette Connection/Any Income |
If you are interested in placing your name on the waiting list, you should contact the Community Development Department at (847)853-7522 to receive the application forms.
Each applicant will be permitted two opportunities to purchase a unit. If an applicant declines twice, that person will be put at the bottom of the waiting list for their residency grouping (i.e.Wilmette Resident, Former Wilmette Resident, Parent of Wilmette Resident, and all other applicants.)
Based on your responses to the Waiting List Questionnaire and Financial Disclosure form, you will be placed into one of the categories of Permitted Occupants. In the event that the Village assumes ownership of any given unit between now and next May 1, the opportunity to purchase the unit will be offered sequentially to persons on the waiting list, beginning with those in the first priority category. When a unit becomes available, the Village will notify all persons on the waiting list in turn regardless of which unit they have designated a preference for. This ensures the opportunity to purchase if circumstances have changed while being on the waiting list.
On an annual basis, on or about May 1, the Village will send each person on the waiting list a questionnaire and financial disclosure form. If you do not complete and return the financial disclosure form, you will automatically be categorized in the highest income level. If you have any questions regarding the Village Green Atrium, feel free to contact the Department of Community Development at (847) 853-7522 (TDD 853-7634).
The following is information concerning the various housing projects for senior citizens.
Mather Place , 2801 Old Glenview Road
Located near Skokie Blvd. just west of Westmoreland County Club. Four levels provide 117 one-bedroom and 26 two-bedroom apartments, with exercise, transportation, hobby, entertainment and guest facilities. Service includes two meals a day, maid and linen service, 24-hour security, social, recreational and other amenities. This is a private not for profit enterprise that offers secure community living with lifecare. For further information, contact their information office at (847) 256-9300 or (847) 492-7666.
Gates Manor, 1135 Wilmette Ave.
Located adjacent to the Village Center Business District and bus and Metra train service. Opened in 1977 with 51 one-bedroom apartments. Built on land donated by the First Congregational Church by a private developer. Monthly rent is 30% of adjusted income with the balance paid by HUD through the Section 8 Housing Assistance Program. Some applicants may be eligible for federal and/or local preference. Although applications are still being accepted, vacancies are filled from the current waiting list. For more information, please telephone (847) 256-5040.
Shore Line Place, 324 Linden Ave.
Located across from the CTA rail and Pace bus terminals and next to the 4th & Linden Business District. The building is operated by a nonprofit organization established by the Village and was constructed using HUD funding. The building has 32 one-bedroom apartments and 11 efficiency apartments for seniors. Residents pay only 30% of their income and HUD finances the remainder. Priority is given to present, then former Wilmette residents, then parents of present residents based upon need. For further information contact Re Brown-Graves, Shore Line Place, (847) 251-6212.
Housing Assistance
The Village offers assistance to senior residents who have lived in Wilmette at least two years and are physically capable of staying in their own homes but whose income makes continuing to live in the Village financially difficult. If you are over 62 (or under 62 and a disabled head of household) and your income is under $26,400 if single, or $30,150 if a couple, you may be eligible for $2400 per year financial assistance from the Village. For more information, contact the Community Development Department, Village Hall or call (847) 853-7522 (TDD 853-7634).
Village Green Atrium, 800 Ridge Rd.
Located close to the High Ridge Shopping Center and next to the Police Station and Howard Park. Opened in 1983 with 25 one-bedroom and 10 two-bedroom apartments on two levels around a center atrium. The building was originally constructed as a curling center and sold by the Village to a private developer for senior housing after extensive renovation. All units are condominiums. The one-bedroom units are currently valued by the Village, the resale agent, at between $75,000 and $80,000. Two-bedroom condominiums are between $90,000 and $95,000. There is a monthly service charge of $118 to $139 paid to the Condo Association. The building is operated by a committee of residents. Sale of units is controlled by the Village and priority goes to present then former Wilmette residents, then parents of residents ranked by income with lower incomes receiving higher priority. There is presently a waiting list of approximately 70, 40 of whom are current Wilmette residents. For more information, contact the Community Development Department, Village Hall, (847) 853-7522 (TDD 853-7634).
Manor Care Center of Wilmette, 432 Poplar
Located near the Village Center shops and bus and Metra train station. A three story nursing home licensed for 80 beds by the Illinois Department of Public Health with a separate Alzheimers unit. Most admissions are referred by doctors and hospitals for care. Respite care and rehab care are available and three meals a day plus snacks are provided. For more information, contact Jennifer Hummer at (847) 256-5000.
Sponsored by the Illinois Housing
Development Authority
What is an MCC?
Congress authorized MCC's as a method of providing housing assistance
to eligible home buyers. An MCC reduces the amount of the borrower's federal
income tax liability, thus making more income available to qualify for
a mortgage loan. Every home owners is allowed to claim a federal income
tax deduction for interest paid on a mortgage loan. An MCC improves this
benefit. Twenty-five percent of all mortgage interest paid qualifies as
tax credit - that is, a dollar for dollar reduction of the borrower's
liability. The remaining seventy-five percent of the mortgage interest
paid continues to qualify as an itemized tax reduction. The reduction
in tax liability resulting from the MCC tax credit effectively reduces
the interest cost of the mortgage loan.
How does the buyer use the MCC?
The buyer may either file a revised W-4 withholding to receive an immediate
benefit, or wait until filing his or her federal income tax return to
receive the credit in the forms of a tax refund. Either way, the buyer
applies more of his or her earnings to mortgage payments and less to federal
income taxes.
Who is eligible?
The following requirements must be met for an MCC:
- In most instances, borrowers must be buying their first home (or may not have owned a residence in the past three years);
- The buyer's household income must fall within a specified limit that is set by the IRS;
- The mortgage loan must be a new loan, not a refinancing; and
- The home must become the buyer's principal residence within 60 days of the closing.
How long does the MCC last?
The MCC tax credit is good for the life of the mortgage as long as the
home remains the buyer's principal residence.
How an MCC works
Assume we have a family that earns $35,000 annually with no other standard
deductions. They buy their first home and borrow $65,000 at an interest
rate of 8%, from one of the participating lenders and in the process qualify
for a Mortgage Credit Certificate. Let's see the saving in taxes our borrowers
will realize.
Annual Income $35,000
Loan Amount $65,000
Interest Rate 8.0%
First Year Interest Paid $ 5,180
Deductible Interest with No MCC $ 5,180
Deductible Interest with MCC $ 3,885
MCC Tax Credit $ 1,295
Taxes Without MCC
Income $35,000
Mortgage Deduction $ 5,180
Taxable Income $29,820
Taxes Due at 15% $ 4,473
Taxes With MCC
Income $35,000
Mortgage Deduction $ 3,885
Taxable Income $31,115
Taxes Before Credit at 15% $ 4,667
MCC Credit $ 1,295
Taxes Due $ 3,372
Tax Savings $ 1,101
For more information, contact your lender or the Illinois Housing Development
Authority (IHDA) at 1-800-942-8439.
REVERSE MORTGAGES NOW AVAILABLE TO NORTH SHORE SENIOR HOMEOWNERS!
Seniors, would you like to supplement your monthly income? Then, check out a reverse mortgage.
A reverse mortgage would allow you to convert the equity now locked up in your home into a monthly income or a one time payment or even a combination!
A reverse mortgage is a loan made against your home's equity which provides for cash advances to you and requires no repayment as long as you own and live in your home. The loan is repaid when the home is sold. These loans are available to seniors 62 years of age or older who own and occupy their own homes that have either no mortgage or a very small mortgage balance outstanding.
To find out more about a reverse mortgage, call the North Shore Senior Center at 847-446-8750 for an appointment to talk with a reverse mortgage counselor.
Additional information is available from:
- Suburban Area Agency on Aging: 847-383-0258
