In many neighborhoods throughout the city, vacant and foreclosed homes have become a norm. One day there’s a family going in and out of the home, the next day it’s boarded up.
In many neighborhoods throughout the city, vacant and foreclosed homes have become a norm. One day there’s a family going in and out of the home, the next day it’s boarded up.
Thanks to the Housing and Economic Recovery Act of 2008, federal funds channeled through the U.S. Dept. of Housing and Urban Development will be given to the City of Chicago to help bring vitality back to communities in need.
The Neighborhood Stabilization Program will provide grants to purchase foreclosed or abandoned homes to rehab, resell or redevelop them in order to stabilize neighborhoods and stem the decline of home values of neighboring homes. The funds can’t be used to prevent foreclosures.
Many neighborhoods targeted for the program– including Albany Park, Austin, Chatham, Chicago Lawn, Englewood, Grand Boulevard, Greater Grand Crossing, Hermosa, Humboldt Park, Logan Square, South Chicago, South Lawndale, Washington Park and Woodlawn–will each receive a portion of the program’s $55 million pot.
The Illinois Dept. of Human Services handled the vetting process for organizations vying for funds.
“The organizations had to go through a Request For Proposals process. Those that fit the criteria were chosen to receive funds,” said Marielle Sainvilus, an IDHS spokeswoman.
The process on how the organizations were selected is expected to be released in the coming weeks, she said.
Ald. Willie Cochran (20th), whose ward includes portions of Englewood, Washington Park and Woodlawn, said the funds would allow properties within those areas negatively affected by foreclosures to become more attractive, and improve the look of the areas.
“The money will help revitalize those selected properties and make them affordable to homeowners. Once that happens, our communities can become more stable and we’ll be able to see homeownership growth,” Cochran said.
Cochran said it’s too early to pinpoint the specific locations in each area that will be targeted.
However, on Garfield Boulevard in Washington Park, the Shultz Bakery building near 55th and State Streets will receive $4.8 million of NSP funds for renovation, said Ald. Pat Dowell (3rd).
“It’s one of the largest terra cotta buildings in the city. Once it’s rehabbed, it’ll be a big boon to Washington Park,” said Dowell.
In addition to NSP funds, Cochran and other aldermen whose ward includes parts of the Englewood community will use money from the Englewood Tax Increment Financing district to provide $1.5 million in grants to homeowners in Englewood who own single- family up to four-unit buildings.
“Grants between $12,000 to $20,000 will be given to homeowners for improvements. My colleagues, Alds. Dowell, (Latasha) Thomas and (Joann) Thompson, are on board with the efforts. We’ve had so many applicants that qualify for the grants that we now have to have a lottery drawing,” Cochran said.
The aldermen are working hard to improve their communities, he said. “We’re not just standing around,” Cochran added.
Ald. Sharon Dixon (24th) echoed Cochran’s sentiments about working hard for the constituents, but she’s a bit “dismayed” that the North Lawndale community on the West Side wasn’t selected as an area of “greatest need.”
The neighboring South Lawndale, as well as Logan Square and Englewood which share similar blight, were chosen as communities in greatest need, Dixon said.
NSP funds are expected to be released in the spring.
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