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A Conversation with David Doig, President of Park Bank Initiatives
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"Community development isn't what we do for Community Reinvestment Act (CRA) credits," explains Preservation Compact Advisory Council Member David Doig, "it's our central mission." A former Deputy Commissioner for Chicago's Department of Planning and Chicago Parks Commissioner, Doig became the president of Park Bank Initiatives at the end of 2007.
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Cook County Rental Housing: 2008 Snapshot
available now
On February 3, The Preservation Compact and DePaul University's Institute for Housing Studies hosted a lively discussion with over 50 participants to review new affordable rental housing data from DePaul. The data includes estimates for the number of housing units for Cook County by housing type; the results of a landlord survey; the status of multifamily rental units within five Chicago community areas; information on subsidized housing; and, a forecast of available rental housing in 2020.
Email housingstudies@depaul.edu for information and copies of the report.
CMAP GO TO 2040 Strategy Paper
available now
CMAP has released a GO TO 2040 strategy paper on regional goals for housing preservation. Research will be conducted on each strategy to determine the anticipated impact of each strategy, and the content of the reports is being expanded and modified through discussions with partner agencies and CMAP's working committees.
Read full report> |
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Community Investment Corporation Closes over $1m in Energy Savers Loans
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Community Investment Corporation (CIC) has provided more than $1 million in funding to owners in Chicago and the suburbs for energy saving projects through its Cook County Energy Savers Program.
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Chicago to Benefit from Large Neighborhood Stabilization Program Allocation
The City of Chicago has received one of the highest allocations to a single city in the nation - $55.2 million - for a new federal program designed to stabilize neighborhoods hit hard by foreclosures. Neighborhood Stabilization Program (NSP) funds were allocated to cities and states based on need and can be used for land and property acquisition, demolition of abandoned buildings, rehab and/or down-payment assistance.
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Economic Stimulus Package
The American Recovery and Reinvestment Act of 2009 signed by President Obama on February 13 is meant to stimulate the creation and protection of 3.5 million jobs across the country and provide funding for huge new investments in infrastructure, housing, education and training, and energy.
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The MacArthur Foundation Awards Funds to New Preservation Projects
On February 26, twelve new innovative projects to preserve more than 70,000 affordable rental homes across the country - from Vermont and Maryland to Oregon and California - were awarded funds by The MacArthur Foundation. The projects encompass a variety of strategies to preserve rapidly disappearing affordable rental houses, and several of the initiatives are modeled after aspects of The Preservation Compact. More information regarding the grantees and their projects>
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The Preservation Compact is guided by the Urban Land Institute (ULI) Chicago with support from The John D. and Catherine T. MacArthur Foundation. Its goal is to preserve 75,000 affordable rental homes in Cook County by 2020.
Key organizations involved in the project include the City of Chicago, the Illinois Housing Development Authority (IHDA), the Department of Housing and Urban Development (HUD), Cook County Assessor's Office, Community Investment Corporation (CIC), Local Initiatives Support Corporation/Chicago (LISC/Chicago), Center for Neighborhood Technology, Chicago Rehab Network, Sargent Shriver National Center on Poverty Law, Chicago Community Loan Fund and The Institute for Housing Studies at DePaul University.
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