Chicago finally caught a glimpse of spring this past weekend! In anticipation of February winding down and the emergence of spring, the Land Bank has adjusted pricing for our current inventory as well as introduced several new homes that are available for purchase. Over 100 homes are currently available; either click here for a spreadsheet of all inventory or visit our website for general information & more CCLBA news.
In addition, we would like to announce a couple of upcoming events as well as highlight some notable rehab policies and procedures that are important for every prospective homeowner and developer wanting to understand how the Land Bank operates.
CCLBA BOARD OF DIRECTORS - SPRING QUARTERLY MEETING
March 17, 2016 | 10:00 AM - 12:00 PM
The Cook County Land Bank Authority's Board of Directors convene on a quarterly basis to discuss general activities, operations, and policies of the Land Bank. A complete agenda will be made public 2-3 days before the date of the meeting, and can be found here.
2016 ILLINOIS GOVERNOR'S CONFERENCE ON AFFORDABLE HOUSING
March 29 - 30, 2016
Hyatt Regency Hotel | Chicago, Illinois
Co-hosted by the Illinois Housing Council & the Illinois Housing Development Authority (IHDA), this event features a list of panels that range from housing finance and asset management to education and healthcare.
Register here to join the state's top developers, policymakers and industry leaders at the 2016 Illinois Governor's Conference on Affordable Housing on March 29 and 30 in Chicago!
Notable Rehab Guildelines
Below are some highlighted bullet points of important guidelines and procedures that the CCLBA would like every prospective homeowner and developer to know who wishes to do business with the Land Bank.
- Properties must be professionally redeveloped within 12 months of sale in accordance with local municipal building codes and procedures. Rehab process will be supported with periodic monitoring in order to ensure compliance. Quality of craftsmanship will will impact future transactions.
- CCLBA places a soft mortgage on the property to prevent selling without redevelopment. This mortgage will be released prior to the sale to homeowner provided the rehab has been completed.
- CCLBA does not provide financing for the purchase or rehab; however, CCLBA can make a referral to resources that will provide technical assistance & financing.
A one-page pamphlet can be found here, and we encourage everyone to visit our website or call us at (312) 603.8015 for more information on how to engage with the Land Bank.