CCLBA Newsletter | February 13th, 2017
FEBRUARY UPDATE: UPCOMING WORKSHOPS & NEW PROPERTIES
Here's hoping for an early spring! The Land Bank has experienced a tremendous response to our Vacant Lot Program, and we would like to thank everyone who expressed interest in participating. For more information on the program, please click the link on the front page of our website.
This edition of our newsletter would like to highlight a couple of upcoming workshops that the CCLBA will be participating in over the next couple of weeks. If you are interested in doing business with the Land Bank, we would definitely encourage you to attend and participate. Further details can be found below, and we hope to see you there!
In addition, there are several new properties up on our website, which we encourage everybody to view and make an offer if so interested. To view a complete list of our entire property inventory, please click here for an excel spreadsheet. As always, for more information please visit our website for additional CCLBA news.
EVENT 200 DEVELOPER WORKSHOP |
RENOVO FINANCIAL & CCLBA
February 23rd, 2017 | 4:30 PM - 7:00 PM
222 W Adams St. | Conference Center
Join Renovo and our special guest, the Cook County Land Bank Authority (CCLBA) as we highlight their vast asset base, their goals for 2017, and Renovo's campaign to close 200 deals with them this year! This event will be held at the conference center at 222 W Adams St. from 4:30 - 7:00 PM. To register for the event, please click the link here.
CCLBA IN THE NEWS
There were a couple of articles in the past month that detail the CCLBA's Vacant Lot Program, which can be found on our website. Through this program, the CCLBA is aspiring for a neighborhood reboot in an effort to revitalize and restore our neighborhoods and municipalities. For more information on the program and to apply for a parcel, please visit our website and click on the front page titled, 'Vacant Lot Program.'
GENERAL REHAB GUIDELINES
The following includes 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.