In July, Community Investment Corporation (CIC) was among 54 grant recipients awarded $70 million in grants by Illinois Attorney General Lisa Madigan to help rebuild communities affected by foreclosure. CIC will use the grant to provide a loan loss reserve for a new $22 million loan fund for investor owned 1-4 unit buildings. CIC expects to launch the new loan product this fall.
Congratulations to other Preservation Compact partners who also received grant funds, including the Institute for Housing Studies at DePaul University, Hispanic Housing Development Corporation, NHS of Chicago, LISC Chicago, Illinois Housing Development Authority, Metropolitan Planning Council, Chicago Community Loan Fund, Mercy Portfolio Services, the Metropolitan Mayors Caucus. Read the Attorney General’s announcement
and details of the grant awards