Mayor Richard M. Daley said the city will use $50 million in public and private loans and grants for single- room occupancy housing.

The initiative is the result of a partnership involving the city, the state of Illinois, the Community Investment Corp., the Corporation for Supportive Housing and other housing support organizations.

In partnership with the Community Investment Corp., Chicago will offer grants and loans to private operators to refinance their mortgages and improve their buildings.

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