The Cook County Land Bank Authority recently participated in its 500th rehab project. Homeowners and entrepreneurs have benefitted along the way.
Darcel Rockett reports on a significant milestone for the Cook County Land Bank Authority (CCLBA), which recently assisted in the rehab of its 500th home in the Chicago area.
The Cook County Board of Commissioners created and funded the CCLBA in 2013 as a response to the 2008 foreclosure crisis. "The CCLBA acquires properties that sit vacant, abandoned and tax-delinquent for years and sells them at below-market rates to qualified community-based developers who then rehab the homes and sell them to homeowners," according to Rockett.
In addition to the benefits to the 500 homes rehabbed by the CCLBA, Rockett also reports on the economic benefits to entrepreneurs who have built rehabbing businesses with the help of the authority.
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City of Albany
UCLA Lewis Center for Regional Policy Studies
Mpact (formerly Rail~Volution)
Chaddick Institute at DePaul University
City of Piedmont, CA
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research