City of Chicago

Rahm Emanuel
Mayor

2014 - 2018
CHICAGO FIVE-YEAR
Strengthening
Neighborhoods
HOUSING
PLAN
Increasing Affordability.

Third Quarter 2015 Progress Report

December 8, 2015

City of Chicago
Rahm Emanuel
Mayor

2015 Production
Estimates
For 2015, DPD is projecting
total commitments of more
than $254 million to create or
preserve over 8,200 units of
affordable housing

City of Chicago
Rahm Emanuel
Mayor

2015 Third Quarter Production

Through the third quarter of 2015,
DPD has committed nearly $200
million to support 6,187 units
This represents 79% of the
annual resource allocation goal
and 75% of the annual goal for
units assisted

City of Chicago
Rahm Emanuel
Mayor

Creation and Preservation

of Affordable Rental Units

For 2015, the Department is

projecting commitments of over
$206 million to support more
than 5,600 units of affordable
rental housing using loans for new
construction or rehab, TIF funds,
tax credits, rental subsidies and
other financial incentives

City of Chicago
Rahm Emanuel
Mayor

Creation and Preservation

of Affordable Rental Units
Through the third quarter, DPD
has committed more than $170
million to support 4,577 rental
units
This represents 83% of the
annual resource allocation goal
and 81% of the annual goal for
units assisted

City of Chicago
Rahm Emanuel
Mayor

Creation and Preservation of

Affordable Rental Units
Multi-family Rehab and New
Construction

St. Edmunds Oasis

Construction of a 58-unit rental development for families

on 14 City-owned lots near 61st and Prairie in 20th Ward
The project will consist of 19 units reserved for CHA
residents and 39 for households earning up to 60 percent
of AMI, located in four townhome-styled buildings
City assistance for St. Edmunds Oasis will include
$10.2 million in tax-exempt bonds, a $5.1 million loan,
$694,000 in Low Income Housing Tax Credits generating
$7.0 million in equity, $134,000
in Donations Tax Credit equity
and a $630,000 land write-down

City of Chicago
Rahm Emanuel
Mayor

Creation and Preservation of

Affordable Rental Units
Multi-family Rehab and New
Construction

J. Michael Fitzgerald Apartments

Construction of a new $17.7 million senior apartment building at

south end of North Park Village in 39th Ward
J. Michael Fitzgerald Apartments, to be developed by Elderly
Housing Development and Operations Corp., will contain 63 onebedroom units for tenants earning up to 60 percent of AMI
City is assisting project through a 75-year ground lease at $1 per
year, enabling it to qualify for $1.3 million in Donations Tax
Credits that will generate $1.1 million in equity
Other funding sources include $10.6
million from HUDs Section 202
Supportive Housing Program and
$5.3 million in Low Income Housing
Tax Credit equity from IHDA

City of Chicago
Rahm Emanuel
Mayor

Promotion and Support

of Homeownership
For 2015, the Department is
projecting commitments of over
$33 million to help nearly 500
households achieve or sustain
homeownership, through
programs that provide financial
assistance for home purchase and
rehabilitation

City of Chicago
Rahm Emanuel
Mayor

Promotion and Support

of Homeownership

Through the third quarter, DPD has

committed almost $20 million to
support 271 units
This represents 59% of the annual
resource allocation goal and 57% of
the annual goal for units assisted

City of Chicago
Rahm Emanuel
Mayor

Promotion and Support

of Homeownership

TaxSmart Program
Reauthorized
Three More
Yearsauthorized $75 million in tax
For
On September
24 City Council
incentives to help an estimated 240 families buy or improve their
homes over next three years
Since 2003, DPDs TaxSmart Mortgage Credit Certificate
Program has enabled local lenders to provide an income tax
credit for a portion of the interest paid each year on a borrowers
mortgage or home improvement loan
The credit is calculated at 25% of first-time homebuyers mortgage
interest (up from 20% previously) or 50% of existing owners home
improvement loan interest (not to exceed $2,500 annually) during
previous year
TaxSmart is open to all Chicago residents who fall under the
programs income limits and have qualified for a loan from a
participating lender

City of Chicago
Rahm Emanuel
Mayor

Improvement and
Preservation of Homes
For 2015, the Department is
projecting commitments of nearly
$15 million to help over 2,100
households repair, modify or
improve their homes

City of Chicago
Rahm Emanuel
Mayor

Improvement and
Preservation of Homes
Through the third quarter, DPD
has committed over $10 million
to support 1,339 units
This represents 69% of the annual
resource allocation goal and 63%
of the annual goal for units
assisted

City of Chicago
Rahm Emanuel
Mayor

Improvement and
Preservation of Homes

Large Lots Program Expands To

Two More South Side
Communities
On September 15, DPD kicked off the fourth round of vacant lot
sales under the Large Lots Program, expanding sales to
Roseland and Pullman
Through the program, neighboring homeowners and community
organizations can purchase City-owned vacant lots for $1 each
Applications were accepted in Roseland and
Pullman through October 31
Since its inception in 2014, the Large Lots
Program has enabled the acquisition of some
500 City-owned lots by qualifying buyers in
Englewood, Woodlawn and East Garfield Park

City of Chicago
Rahm Emanuel
Mayor

Policy Highlights
New Transit-Oriented Development
Incentives
Would Pump $400 Million into Economy

On July 29 Mayor Emanuel proposed a strengthened

transit-oriented development (TOD) ordinance that
would generate an estimated $400 million in
economic activity, $100 million in local tax revenues
and 1,300 affordable housing units over a 20-year
period
Under the new TOD policy, the City would offer a
variety of incentives to stimulate increased
residential and commercial development around
CTA and Metra stations
These incentives are designed to broaden access to
transit, attract new amenities to neighborhoods and
foster economic growth citywide

City of Chcago
Rahm Emanuel
Mayor

Policy Highlights
The proposed Transit-Oriented Development
Ordinance would amend the zoning code to:
Expand TOD incentive zones to cover development
within a quarter-mile of any transit station (or a
half-mile for pedestrian-designated streets)
Eliminate residential parking requirements if
replaced with alternative transportation options
(such as bicycle parking)
Establish a streamlined, administrative process for
accessing floor area, lot area or building height
incentives
For projects falling under the Affordable
Requirements Ordinance, allow higher floor area
ratios if at least half of the required affordable
units are created onsite

City of Chicago
Rahm Emanuel
Mayor

Policy Highlights

Micro-Market Recovery
Program (MMRP)
Overview and Update

C I T Y

O F

C H I C A G O

Micro-Market Recovery Program

Goals
To improve conditions, strengthen property values, and create
environments supportive of private investment in targeted markets
throughout the city by strategically deploying public and private
capital and other tools and resources in well-defined micromarkets.
Stabilizing the community
Knowing the market
Keeping people
Rebuilding the
in their homes
market
Understand the
- Counseling
- Repair grants
- Community
development
activities

vacant buildings
- Prioritizing blocks
- Code
enforcement
- Reclaiming
abandoned
buildings

Getting buildings
occupied
- Homebuyer
subsidy
- Working with
developers &
homebuyers

17

MICRO MARKET
ECOVERY PROGRAM
TARGET AREAS (COMMUNITY AREAS) and
NEIGHBORHOOD PARTNERS

Auburn Gresham
Neighborhood Housing
Services
Greater Auburn-Gresham
Community Development
Corp.
Austin
Austin Coming Together (ACT)
Community Investment Corp.
Belmont Cragin NORTH
Northwest Side Housing
Center
Belmont Cragin SOUTH
Spanish Coalition for Housing
Chatham
Community Investment Corp.
Neighborhood Housing
Services
Chicago Lawn
Southwest Organizing Project

East Garfield Park

Garfield Park Community Council
Neighborhood Housing Services
Englewood
Neighborhood Housing Services
Grand Boulevard
Partners in Community Building
Humboldt Park
Neighborhood Housing Services
West Humboldt Park Family &
Development Council
Bickerdike Redevelopment Corp.
North Pullman
Chicago Neighborhood Initiatives
Neighborhood Housing Services
West Pullman
Chicago Neighborhood Initiatives
Far South Community
Development Corp.
Woodlawn
Community Investment Corp.
Neighborhood Housing Services

18

MMRP Activity to Date

Goal: Keep people in homes, get buildings occupied
Thirteen areas around the City
Targeted areas, help stabilize and rebuild

Collectively, MMRP has affected 6,229 units of housing

1,540 units of vacant or abandoned housing in 555 buildings have
been reoccupied in MMRP target areas
Assisted 122 households with grants/loans
to help with affordability
Saved 61 families from foreclosure
Provided counseling to another 711 families

19

Three Program Principles.

1. Clustered activity
Program strategies are targeted to distinct geographies.

2. Comprehensive approach
Program strategies comprehensively address the needs
of families, buildings and blocks.

3. Collaborative effort
Program strategies are managed collaboratively
between a Community Partner and Technical
Assistance Providers.

20

Development Activity in the MMRP

(Before/After)

21

Community Engagement in the MMRP

22

City of Chicago
Rahm Emanuel
Mayor

Policy Highlights

TIF Neighborhood Improvement

Program (TIF-NIP)
Overview and Update

C I T Y

O F

C H I C A G O

What is TIF-NIP ?
TIF-NIP provides home repair grants for owner-occupied singlefamily residences (one to four units) in selected TIF districts
The grants are primarily for exterior repairs; however, up to 30% of
the grant amount may be used for interior repairs that are health- or
safety-related
Grant levels are based on the number of units per residence and the
type of repair to be made:

Who is eligible for the

program ?
To qualify for a full grant, homeowner(s) must have a household
income at or below 100% of area median income (AMI)
If household income is at 101-140% of AMI, the homeowner is
required to match the grant amount dollar-for-dollar

Since 1999, TIF-NIP has provided over $33

million for home repair grants in eligible TIF
Districts.

In 2015 TIF-NIP has continued

to move forward.
In the first three quarters provided
$777,000 in grants to assist 77 units
located in seven active TIF Districts
Rolled out new NIPs in four TIF Districts:
Bronzeville
10/8/2015 $570,000
47th/King Dr.
10/15/2015
$515,000
Woodlawn 11/3/2015 & 12/15/2015 $450,000
West Woodlawn 11/3/2015 & 12/15/2015 $270,000

Scheduled two additional roll-outs for early

2016:
Commercial
Central/West

1/14/2016 $290,000
1/26/2016 $420,000