When something is close close (the 々 character repeats the kanji that was before it) it will happen in the near future, or soon.

This is pretty vague, and it's up to the person speaking to decide how soon "soon" is. Depending on the person and the situation, it could technically be used for anything up to a few years!

The reading is the kun'yomi reading twice; that's the one you learn with the vocab word 近い from the previous level. The second 近 gets converted to ぢか, though, so take note of that. To write the character ぢ, type "di" on your keyboard.