Stadelman delivers $2.5 to save downtown Ice House

Thanks in large part to Senator Steve Stadelman pledging $2.5 million in state capital funds, the Rockford Park District this week called off plans to close the Riverview Ice House. The 45-year-old downtown rink instead will receive $6 million in long-overdue upgrades and remain open for figure skating and hockey programs.
 
"I believe Riverview, despite its unfortunate deferred maintenance, continues to be an important tourism destination for our region and a vital economic anchor for our urban core," Stadelman said in a commitment letter. "We’ve invested too much for too long to reach a critical point in the redevelopment of downtown Rockford. We cannot afford to jeopardize that progress now."
 
During the upcoming spring session of the Illinois General Assembly, Stadelman will amend the state’s Rebuild Illinois legislation to include a line item earmarking $2.5 million toward renovations at Riverview. Park District funds would pay the other $3.5 million in estimated costs. Meanwhile, SupplyCore CEO Peter Provenzano and his wife, Heather, are dedicating $100,000 a year over 10 years toward Riverview’s operating subsidy through a charitable trust they established.

Stadelman called the public-private agreement "a fiscally sound plan for preserving Riverview as an integral piece of the quality housing, commercial and entertainment mix that every thriving downtown demands."
 
 
Stadelman: Diabetes shouldn't mean life-or-death decisions

Amid life-threatening increases in the cost of prescription insulin, State Senator Steve Stadelman is calling attention to Jan. 1 when a new law he passed to limit excessive drug profits takes effect. The father of a diabetic son, Stadelman co-sponsored Senate Bill 667, which made Illinois the second state in the nation to cap out-of-pocket insulin costs at $100 a month.
 
“I have seen the struggles people with diabetes face every day. It shouldn’t also be the cause of financial stress for their families,” Stadelman said. “Without adequate insurance, many people with diabetes can’t afford the insulin they need to survive, and rationing insulin will lead to further health problems and more expensive health care costs in the long term.”
 
Insulin tripled in price between 2002 and 2013, leading many patients to ration their insulin and sacrifice other daily needs to pay for medication. The new monthy applies to all patients using a state-regulated insurance plan, regardless of the insulin supply they require.
 
Stadelman, along with a number of other sponsors, worked with advocacy groups, including Insulin for All and AARP, to pass the measure with bipartisan support. The new law requires the Departments of Insurance, Human Services, and Healthcare and Family Services to jointly issue an "insulin pricing report" that details findings on insulin pricing practices and recommendations to control and prevent overpricing of prescription insulin drugs.
 
“Diabetes is a lifelong affliction for those who have it,” Stadelman said. “This law will provide medical and financial relief to thousands in the Rockford area and across Illinois. I’m proud of our state’s commitment to lowering insulin costs."

 

Stadelman announces nearly $500,000 in revitalizaiton grants

State Senator Steve Stadelman announced the City of Rockford and the Northern Illinois Land Bank Authority will receive a combined total of $475,000 revitalization grants to support affordable housing and urban renewal.

“There are thousands of vacant lots across the state. Sadly, this includes hundreds in Rockford,” said State Senator Steve Stadelman. “The cost of blight in our communities is enormous, dragging down property values and tearing the social fabric of our neighborhoods, to say nothing of the hard maintenance cost shouldered by taxpayers. The money granted to Rockford and Winnebago County will provide a much needed opportunity to revitalize our community.”

Grants were made available after the Illinois Housing Development Authority Board approved $10 million in funding for the initiative. Awarded under the new Strong Communities Program (SCP), the initiative will provide Rockford with funding for the attainment, maintenance, restoration and demolition of abandoned residential properties. The program – which began in August – awards grants of up to $250,000 to local governments to return vacant residential properties to productive use. A total of $30 million in grant funding will eventually be awarded through multiple funding rounds.

“When money is spent to address properties like these, the value of homes in the surrounding area go up,” Stadelman said. “As a result, the program will help increase property values, create jobs, reduce crime and generate additional tax revenue.”

   - UPDATED WITH NEW VIDEO LINK -    

Wishing you the happiest of holidays and a joyful 2021!
 


Dear Friends,

As we close out a year that has tested us all in ways we never could have imagined, I wish you a safe, healthy and peaceful holiday and much fortune in the new year. It has been my distinct honor to represent you in state government through the incredible challenges 2020 imposed. While the hardships we faced sometimes brought out our diffierences, I believe they also underscored our common humanity and the importance of making personal sacrifices for the greater good. Here's to a brighter, more hopeful 2021!

Sincerely, 

Steve Stadelman | District 34

 

New SmartBuy mortage program offers relief on student loan debt


Prospective homebuyers with student loan debt should check out the state's new SmartBuy mortage assistance program, which offers $5,000 toward down payments or closing costs and 15 percent of a home's purchase price -- or up to $40,000 -- in student loan debt relief.

The Illinois Housing Development Authority (IHDA) launched the SmartBuy program Dec. 1. Potential borrowers must have at least $1,000 in student loan debt and must pay off their full remaining student loan balance when closing on the 30-year, fixed-rate mortgages. The program also requires a FICO mid-score of at least 640, and applicants must meet certain income and purchase price requirements.

SmartBuy was created using appropriations allocated to IHDA in the historic, bipartisan Rebuild Illinois capital plan; the program is expected to assist approximately 500 to 1,000 borrowers. Learn more and find a list of SmartBuy-approved lenders here.

 

New SmartBuy mortage program offers relief on student loan debt


Prospective homebuyers with student loan debt should check out the state's new SmartBuy mortage assistance program, which offers $5,000 toward down payments or closing costs and 15 percent of a home's purchase price -- or up to $40,000 -- in student loan debt relief.

The Illinois Housing Development Authority (IHDA) launched the SmartBuy program Dec. 1. Potential borrowers must have at least $1,000 in student loan debt and must pay off their full remaining student loan balance when closing on the 30-year, fixed-rate mortgages. The program also requires a FICO mid-score of at least 640, and applicants must meet certain income and purchase price requirements.

SmartBuy was created using appropriations allocated to IHDA in the historic, bipartisan Rebuild Illinois capital plan; the program is expected to assist approximately 500 to 1,000 borrowers. Learn more and find a list of SmartBuy-approved lenders here.