Local, state and federal agencies play a critical role in the preservation of affordable rental housing. They help finance affordable rental housing while ensuring that buildings are safe and meet rules for long-term affordability.
Though many properties benefit from assistance provided by more than one government agency, different government sources often work in isolation and have different reporting requirements, priorities, and protocols.
Properties in danger of being lost to property deterioration, market conversion, or other forces are more likely to be saved when agencies communicate regularly.
A working group of government agency staff and representatives from Preservation Compact partners the Sargent Shriver National Center on Poverty Law, Chicago Rehab Network and Community Investment Corporation has met monthly for the last four years to to:
The Compact is also working with agency heads, including Leadership Committee members from HUD, IHDA, and the City of Chicago, and Cook County to streamline monitoring and compliance processes. Some of the issues being explored include: