On Tuesday, March 19, the UIC Institute for Government and Public Policy (IGPA), the Coalition of African American Leaders, and the Illinois Federal Savings and Loan Association hosted a half-day conference addressing the Cook County foreclosure crisis and the search for solutions.
We hope you share with us in our concern of the importance of this crisis as it impacts individuals, families and communities of Chicago. This is the beginning of an important discussion. We hope you will join us at other events as we continue to look for solutions and ways to rebuild the lives that have been impacted.
University of Illinois, IGPA
Coalition of African American Leaders
“The American dream of home ownership and neighborhood business ownership has been challenged.” said IGPA Senior Fellow Clarence Wood (left), a co-organizer of the event. “IGPA held the conference to further explore the problems of foreclosure and possible solutions for repairing the damage to families, agencies and businesses in Chicago communities.”
Communities across the nation continue to struggle with the long-term effects of the housing market crash and resulting foreclosure crisis in 2006—2007. In Cook County, which includes the city of Chicago and several surrounding suburbs, foreclosure and resulting vacant buildings continue to pose complex problems even as foreclosure rates slow and the market begins to level out.
“So many people think about foreclosure as an individual crisis—about the impact it has on the homeowner, on a single family,” said panelist Adam Gross. “But think about what happens when you’re talking about five buildings on a block, or eight, or ten. That’s a community-wide problem.”
Panel Pictured Above: Rob Rose, Vice President of Lending at the Chicago Community Loan Fund, which strategically utilizes investor funds to address housing issues and community development. Adam Gross, Director of the Affordable Housing Program at Business and Professional People for the Public Interest (BPI), which works with community organizations to develop programs that preserve and create affordable housing opportunities. Deavay Tyler, Executive Vice President of A&D Property Services, which stabilizes, maintains, and preserves vacated properties.