Welcome!

News Feed Item

West Cook County Housing Collaborative Announces First Availability of High-Quality Affordable Homes

Governor Quinn Praises Program as "Economically Smart"

CHICAGO, Dec. 7, 2012 /PRNewswire-USNewswire/ -- The West Cook County Housing Collaborative, a joint effort between the municipalities of Bellwood, Berwyn, Forest Park, Maywood, Oak Park and community development financial institution (CDFI) IFF, announced today the immediate availability of seven new quality affordable homes for sale in Bellwood and Maywood. The homes, six in Bellwood and one in Maywood, will be made affordable to buyers with incomes at or below eighty percent of the Area Median Income (AMI). The initiative also provides a down payment subsidy of up to $10,000 to support the sale of each home.

(Logo: http://photos.prnewswire.com/prnh/20120612/DC22729LOGO)

Formed four years ago to address the extremely high foreclosure rates affecting these five suburban communities, the Collaborative, with IFF providing project management and coordination, has successfully acquired, rehabilitated, and made affordable seven formerly foreclosed, vacant homes, all within one mile of transit stops.

"This is one of the best, economically smart ways that we can help working families and address the foreclosure problem in some of our hardest hit areas," Governor Quinn said. "Affordable housing will help families put down roots and strengthen communities for years to come."

The Collaborative's approach, to redefine each municipality's geographical boundaries as one community, is effective because it allows them to combine resources, giving them the ability to do more together than they could alone.  "When the mayors of our five communities came together four years ago to talk about how we could best address affordable housing issues, we determined  that the best chance we had to improve our local economies was to work together," said Oak Park Village President David Pope. "And now we are seeing the successful results of that collaboration. We did not do it alone; we did it together."

This announcement comes just one year after the Collaborative received an award of nearly $3 million from the U.S. Department of Housing and Urban Development (HUD), as part of the Sustainable Communities Program, and just under $4.3 million from the Illinois Department of Commerce and Economic Opportunity (DCEO), both to increase affordable housing for families in West Suburban Cook County.

"Having lived in Forest Park my whole life, being part of the Collaborative represents, to me, the very meaning of community," said Mayor Calderone of Forest Park. "Working with my neighbors in West Cook County to increase housing affordability and improve the lives of families not just in Forest Park, but in all five communities, has not only been a rewarding experience, but one that has produced results, and will continue to, for generations to come."

Further praising the efforts of the Collaborative, Mayor Yarborough of Maywood said, "I am incredibly grateful to be a part of this important collaboration—of what we have already accomplished, and the possibilities of what we will accomplish as we continue to work together."

In addition to the seven homes available for sale now, twenty-one additional homes will be available in Maywood, Bellwood and Forest Park, for a total of 28 new homes by the end of 2013—which will be situated so as to make it easier for families to get to work, doctor appointments, childcare centers and schools.

For more information about the available homes, please contact Marz Timms at the West Cook Homeownership Center at (708) 771-5801 or www.westcookhomeownership.org.     

IFF conducts all business in accordance with the Federal Fair Housing Law.

About IFF
One of America's leading nonprofit community development financial institutions (CDFIs), IFF strengthens nonprofits and their communities through lending and real estate consulting that helps these organizations plan, finance, and build facilities that are critical to their success.  Founded in 1988, IFF has total assets of more than $235 million and serves nonprofits working with low-income communities and special needs populations in Illinois, Indiana, Iowa, Missouri and Wisconsin. To learn more about IFF, visit www.iff.org.

CONTACT:
Marc Brailov: 312-596-5124
Kate Maher:  312-521-7385  

SOURCE IFF

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that Daiya Industry will exhibit at the Japanese Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Ruby Development Inc. builds new services in short period of time and provides a continuous support of those services based on Ruby on Rails. For more information, please visit https://github.com/RubyDevInc.
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busine...
As businesses evolve, they need technology that is simple to help them succeed today and flexible enough to help them build for tomorrow. Chrome is fit for the workplace of the future — providing a secure, consistent user experience across a range of devices that can be used anywhere. In her session at 21st Cloud Expo, Vidya Nagarajan, a Senior Product Manager at Google, will take a look at various options as to how ChromeOS can be leveraged to interact with people on the devices, and formats th...
First generation hyperconverged solutions have taken the data center by storm, rapidly proliferating in pockets everywhere to provide further consolidation of floor space and workloads. These first generation solutions are not without challenges, however. In his session at 21st Cloud Expo, Wes Talbert, a Principal Architect and results-driven enterprise sales leader at NetApp, will discuss how the HCI solution of tomorrow will integrate with the public cloud to deliver a quality hybrid cloud e...
Is advanced scheduling in Kubernetes achievable? Yes, however, how do you properly accommodate every real-life scenario that a Kubernetes user might encounter? How do you leverage advanced scheduling techniques to shape and describe each scenario in easy-to-use rules and configurations? In his session at @DevOpsSummit at 21st Cloud Expo, Oleg Chunikhin, CTO at Kublr, will answer these questions and demonstrate techniques for implementing advanced scheduling. For example, using spot instances ...
SYS-CON Events announced today that Yuasa System will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Yuasa System is introducing a multi-purpose endurance testing system for flexible displays, OLED devices, flexible substrates, flat cables, and films in smartphones, wearables, automobiles, and healthcare.
SYS-CON Events announced today that Taica will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Taica manufacturers Alpha-GEL brand silicone components and materials, which maintain outstanding performance over a wide temperature range -40C to +200C. For more information, visit http://www.taica.co.jp/english/.
As hybrid cloud becomes the de-facto standard mode of operation for most enterprises, new challenges arise on how to efficiently and economically share data across environments. In his session at 21st Cloud Expo, Dr. Allon Cohen, VP of Product at Elastifile, will explore new techniques and best practices that help enterprise IT benefit from the advantages of hybrid cloud environments by enabling data availability for both legacy enterprise and cloud-native mission critical applications. By rev...
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busine...
Organizations do not need a Big Data strategy; they need a business strategy that incorporates Big Data. Most organizations lack a road map for using Big Data to optimize key business processes, deliver a differentiated customer experience, or uncover new business opportunities. They do not understand what’s possible with respect to integrating Big Data into the business model.
Companies are harnessing data in ways we once associated with science fiction. Analysts have access to a plethora of visualization and reporting tools, but considering the vast amount of data businesses collect and limitations of CPUs, end users are forced to design their structures and systems with limitations. Until now. As the cloud toolkit to analyze data has evolved, GPUs have stepped in to massively parallel SQL, visualization and machine learning.
Recently, REAN Cloud built a digital concierge for a North Carolina hospital that had observed that most patient call button questions were repetitive. In addition, the paper-based process used to measure patient health metrics was laborious, not in real-time and sometimes error-prone. In their session at 21st Cloud Expo, Sean Finnerty, Executive Director, Practice Lead, Health Care & Life Science at REAN Cloud, and Dr. S.P.T. Krishnan, Principal Architect at REAN Cloud, will discuss how they b...
Enterprises have taken advantage of IoT to achieve important revenue and cost advantages. What is less apparent is how incumbent enterprises operating at scale have, following success with IoT, built analytic, operations management and software development capabilities – ranging from autonomous vehicles to manageable robotics installations. They have embraced these capabilities as if they were Silicon Valley startups. As a result, many firms employ new business models that place enormous impor...
The next XaaS is CICDaaS. Why? Because CICD saves developers a huge amount of time. CD is an especially great option for projects that require multiple and frequent contributions to be integrated. But… securing CICD best practices is an emerging, essential, yet little understood practice for DevOps teams and their Cloud Service Providers. The only way to get CICD to work in a highly secure environment takes collaboration, patience and persistence. Building CICD in the cloud requires rigorous a...
Data scientists must access high-performance computing resources across a wide-area network. To achieve cloud-based HPC visualization, researchers must transfer datasets and visualization results efficiently. HPC clusters now compute GPU-accelerated visualization in the cloud cluster. To efficiently display results remotely, a high-performance, low-latency protocol transfers the display from the cluster to a remote desktop. Further, tools to easily mount remote datasets and efficiently transfer...