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Community Leaders Launch Program to Create 20 New Homeowners in Woodlawn


Renew Woodlawn Restores Vacant And Abandoned Apartments Into Homes

WHAT: Community leaders will launch the Renew Woodlawn Homeownership Program that provides incentives to purchase a home in the South Side neighborhood of Woodlawn at a symbolic ribbon cutting that celebrates the first home closing under the program on Saturday, May 14, at 6144 South Cottage Grove Avenue. Renew Woodlawn is funded by the U.S. Department of Housing and Urban Development, the National Foreclosure Settlement Awards and the City of Chicago.

WHO: City of Chicago Alderman Willie B. Cochran, 20th Ward
City of Chicago Mayor Rahm Emanuel (invited)
City of Chicago Commissioner David L. Reifman, Dept. of Development and Planning (Invited)
Gerard Smith, Branch Chief, Asset Resolution Specialist, Midwest Region Asset Management, U.S. Dept. of Housing and Urban Development
Bill Eager, Vice President, Chicago Area Preservation of Affordable Housing
Kristin Faust, President & CEO, Neighborhood Housing Services of Chicago Inc.
Jack Markowski, President & CEO, Community Investment Corporation
First Time Homebuyer

WHEN: Saturday, May 14
10 a.m. – 11 a.m. Remarks and Symbolic Ribbon Cutting
11 a.m. – 1 p.m. Home ownership Resource Fair

WHERE: Woodlawn Resource Center
6144 South Cottage Grove Avenue
Chicago, Ill. 60637

WHY: This program is part of the ongoing neighborhood revitalization efforts in Woodlawn initiated by nonprofit Preservation of Affordable Housing with its acquisition of the former Grove Parc Plaza in 2008 and a HUD Choice grant awarded to POAH and the City of Chicago in 2011. Renew Woodlawn provides incentives to purchase and rehabilitate homes including grants for down payments and other assistance.

Preservation of Affordable Housing (POAH) is a nonprofit developer, owner and operator of nearly 9,000 affordable homes in nine states and the District of Columbia. POAH’s primary mission is to preserve and create affordable rental homes for low and moderate income individuals, seniors, and families. POAH owns and operates 780 homes in Chicago including 2 multifamily and a senior building along South Cottage Grove called Woodlawn Park and other apartment buildings and brownstones in Woodlawn and surrounding neighborhoods.

Neighborhood Housing Services of Chicago Inc. (NHS) works in partnership with business, government and residents to revitalize neighborhoods and help individuals and families purchase, improve and prevent the loss of 1-4 unit homes, serving over 4,800 clients last year. NHS works to deliver comprehensive, tailored solutions to help families achieve sustainable, affordable housing.

Community Investment Corporation (CIC) is the Chicago metropolitan area’s leading lender for the acquisition, rehabilitation, and preservation of affordable rental housing. CIC financing provides badly-needed investment in credit-starved communities and ensures affordable housing for Chicago’s workforce.