2004

• Site in Matteson is selected based on a market study determining the concentration of adults with disabilities in an area and the proximity to amenities such as shopping, entertainment, and transportation. Community support is received from the Alderman, Planning & Zoning, and the heads of other city departments.

2005

• Rainbow puts down $5,000, raised through donations, to gain site control.

• Applications for construction financing and land acquisition are submitted to the US Department of Housing and Urban Development (HUD), Federal Home Loan Bank, and Illinois Housing Development Authority (IHDA).

• Rainbow is notified that it will receive $3.6M in funds from HUD.

2006

• Through the value engineering process, Rainbow determines $4.55M is the total project cost. The gap in funding is closed through $0.5M from IHDA, $0.1M from the Federal Home Loan Bank, and $0.3M in HUD amendment funds.

• Rainbow purchases the land.

• Rainbow and the government agencies conduct initial closing, providing the contractor ten days to begin construction.

• Construction begins at the end of the year.

2007

• Construction continues.

2008

• Rainbow begins marketing through multiple channels.

• City provides Rainbow with Certificate of Occupancy.

• HUD provides Rainbow with Permission to Occupy the building.

• Approximately 100 applications are received for 25 units. The goal is 100% occupancy within two months of opening.

2009

• Final closing is held