Economic Growth Corporation (GROWTH), in partnership with the City of Morrison, will open its home for sale, located at 414 E. Knox Street, Morrison, IL, through its Single Family Purchase Rehabilitation Program on Sunday, April 3, 2016. The public Open House is from 1:00 to 2:00 p.m. A Ribbon Cutting ceremony will officially begin the Open House at 1:00.
The dwelling features three bedrooms, two baths, and 1,743 square feet. It has been rehabilitated and is ready for prospective homebuyers to purchase. Realtors and the public are welcome and encouraged to attend. Central Bank representatives will be available to discuss financial incentives and information during the event, along with Morrison community leaders.
GROWTH President Brian Hollenback stated, “This effort between GROWTH and the City of Morrison demonstrates how partnerships strengthen the local housing economy. Our unique partnership has allowed for more than $260,000 of housing resources to be invested in the community and impacted a total of nine units. These activities have improved the local housing stock, supported jobs, decreased blight, and increased the local tax base. This home’s completion recognizes two years of investment, and we are excited to celebrate with Morrison on April 3.”
“The City is happy to partner with GROWTH, both on the Knox Street project as well as the rehabs and the demolition of the dilapidated structure on Morris. It is increasingly difficult for municipalities to meet these needs on their own….This makes multi-sector partnerships all the more valuable,” said Barry Dykhuizen, Morrison’s City Administrator.
In July 2013, GROWTH received a total of $3,500,000 in Illinois Attorney General National Foreclosure Settlement Funds. A total of $92,009 was directly invested in Morrison through programs made available by Economic Growth Corporation prior to the investment made through Morrison’s award through Illinois Attorney General National Foreclosure Settlement Funds.
The City of Morrison previously identified a blighted four-plex, located at 703-705 W. Morris Street. That building was demolished using Illinois Attorney General National Foreclosure Settlement Funds.
- AG Demolition Activities Investment: $31,188
Housing Units Impacted: 4 - AG Single Family Purchase-Rehabilitation Program Investment: $143,488
Housing Units Impacted: 1
GROWTH is a 501(c)3 not-for-profit, community based development organization based out of Rock Island, IL. It has used a unified regional approach, identifying new partnerships and new opportunities, to bring National housing resources to the region since 2009. In July 2014, GROWTH was awarded $3.5 million in Illinois Attorney General National Foreclosure Settlement Funds. Over $3 million, or 87% of the total grant award, has been invested on community revitalization efforts throughout Northwestern Illinois.
Northwestern Illinois Housing Coalition
GROWTH serves as the lead member and fiscal agent of the Northwestern Illinois Housing Coalition (NWIHC), an initiative in collaboration with the City of Fulton, City of Morrison, City of Sterling, City of East Moline, City of Moline, and the City of Rock Island. Since 2009, GROWTH has made a $44 million impact in Northwestern Illinois.