A Housing Milestone in Chicago Heights

Mayor David A. Gonzalez, Brenda Franco and Alderman Wanda Rodgers celebrating the first home owner in Chicago Heights under the NSP Program.

A housing milestone in has been reached in Chicago Heights, in partnership with the Cook County Bureau of Economic Development.

On June25, 2012, the Mayor of Chicago Heights,  David A. Gonzalez,  Alderman Wanda Rodgers and several others joined in the home closing for Ms. Brenda Franco on her new home at 1542 Wallace, in Chicago Heights.  This home is the first one completed, and now owned, under the Neighborhood Stabilization Program (NSP)  in Chicago Heights.

Cook County currently utilizes Neighborhood Stabilization Program (NSP) funds to support the following eligible activities noted below.  The funds are restricted for use in Suburban and Unincorporated Cook County.

Housing Development Loans

• Acquisition and rehabilitation of abandoned or foreclosed residential properties
• Demolition of blighted structures
• Redevelopment of demolished or vacant properties

In accordance with program requirements, all NSP activities must benefit low and moderate income households whose income does not exceed 120% of the area median income (AMI). In addition, at least 25% of allocated funds must be utilized for the benefit of households whose income does not exceed 50% of the AMI. Contingent upon project type and amount of NSP assistance, long-term affordability periods and monitoring requirements apply.

Take a tour of the home: