COVID-19 Relief through January 2021
On December 21, Congress passed a $2.3 trillion appropriations and COVID-19 relief bill that includes $900 billion for coronavirus relief with essential emergency housing resources and protections and $1.4 trillion to fund the federal government through fiscal year 2021.The relief bill includes $25 billion in emergency rental assistance and a one-month extension of the eviction moratorium through January 2021. Illinois has been allocated […]
Read moreChicago SRO Listings
The City of Chicago has received a Notice of Intent to Sell or Transfer Property in accordance with the Single-Room Occupancy Preservation Ordinance for the property below:
4905 S. Michigan Avenue(37 SRO Units and 1 Studio Apt.)*notice period expires on March 7, 2021
Interested parties should contact:David G. SchonbackPhone: (630) 997-0099Email: XDAVIDG@aol.com
CIC has financed the rehab and preservation of over 2,000 SRO units. If […]
Read moreBuilding Code Clarification on Sprinklers
Even though the new Chicago building code that became mandatory on August 1, 2020 requires installation of an automatic sprinkler system for buildings with more than four stories, most multifamily rehab projects will not be required to do this. There is an exception for existing buildings that do not have adequate water supply available without the installation of a fire pump […]
Read morePreserving Affordable Rental Housing in a Biden Administration
CIC recently provided housing policy recommendations to President-Elect Biden’s HUD Transition Team on preserving affordable rental housing throughout the country. The recommendations focus on the need for rental assistance, support for NOAH owners and buildings, and incentivizing local policies to drive investment.
President-Elect Biden’s HUD Transition Team is led by Erika Poethig, homegrown in Chicago, and architect of The Preservation Compact.
Read moreCOVID-19 Supplemental Payments for HUD Properties
HUD’s Office of Multifamily Housing has published a Housing Notice opening a second application period for owners of multifamily assisted properties to apply for CARES Act funds to offset property expenses to safely serve residents during the pandemic.
The notice allows owners to submit payment requests for expenses incurred through November 30, 2020. Requests are due to HUD or the Contract Administrator by December […]
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