Foreclosures

 Neighborhood Stabilization Program 2 

PUBLIC NOTICE 

CHICAGO REHAB NETWORK  

NEIGHBORHOOD STABILIZATION PROGRAM 2 (NSP2)

AMERICAN RECOVERY AND REINVESTMENT ACT OF 2009  

NSP2: PROPOSED USES OF FUNDS AND TARGET GEOGRAPHY  The Chicago Rehab Network (CRN) with a consortium of nonprofit organizations including: Bickerdike Redevelopment Corporation, Bethel New Life, Hispanic Housing Development Corporation, Heartland Housing, The Resurrection Project, The Renaissance Collaborative, Acorn Housing Development, Claretian Associates, Genesis Housing Development Corporation and Lawndale Christian Development Corporation, intends to apply for grant funds through the Neighborhood Stabilization Program 2 (NSP2) under the American Recovery and Reimbursement Act of 2009.   This summary statement includes information regarding the proposed targeted geography, the proposed budget and the proposed uses of the funds. 

This document has also been posted on the Chicago Rehab Network here.

Persons with questions about this document may call Rachel Johnston at 312-663-3936 for additional information.  

CRN will accept comments concerning this proposed NSP2 plan summary from July 3, 2009 through July 13, 2009. Written comments may be mailed to Rachel Johnston at Chicago Rehab Network, 53 West Jackson Blvd.  Suite 739, Chicago, Illinois  60604 or email Rachel@chicagorehab.org.  A public meeting to hear comments will be held on July 9^th at 6pm to 8pm the CRN offices, 53 W. Jackson, Suite 739, Chicago, south bank of elevators.

CRN will submit the application for NSP2 funding to the United States Department of Housing and Urban Development (HUD) on July 17, 2009. 

Summary of Proposal

Target Areas

Target Area Map

 neighborhood stabilization program

• City of Chicago Request for Qualifications *new!*
• City of Chicago NSP Plan
• City of Chicago Developer Info Session Handout - December 17, 2008
• CRN Comments of Draft Plan

Illinois NSP

• Request for Proposal *new!*
• Illinois NSP Plan
  
• CRN Comments on Draft State NSP Plan
  

A Picture of Chicago Foreclosures:

Click on the links below to understand more about actual foreclosures by Chicago neighborhood by month:

• January 2008

• February 2008

• March 2008

• April 2008
• May 2008
• June 2008
• July 2008 
• August 2008 
• September 2008
• October 2008 
• November 2008 new!

The Woodstock Institute's 2007 Foreclosure Report details the impact in the 6-county region.

The Harvard University Joint Center for Housing Studies recently released a report on America's Rental Housing: The Key to a Balanced National Policy - unveiled with support from The John D. and Catherine T. MacArthur Foundation in April 2008. 

Pew Trust report on what States are doing to deal with the crisis.

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Impacts are disproportionately negative in minority communities.  Read Foreclosed: State of the Dream 2008 published by United for a Fair Economy and Paying More for the American Dream, a joint report.

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