What measures will you support to guarantee that some of the foreclosed properties saved through the Neighborhood Stabilization Program are made affordable to families at 40% and 60% of AMI?

Housing & Affordability

To ensure families at 40%-60% below AMI are able to have access to housing opportunities
under the Vacant Properties Ordinance we will engage local community organizations and
inform the public regarding the opportunities that are available. As Alderman it is one of
my top priorities to support families and the creation of a healthy community of people.
Providing affordable housing to all residents of Chicago is not only the right thing to do, it is great for our economy. The rehabbing of the homes creates several construction jobs,
the local stores have a rejuvenated customer base, property taxes can be collected for the
property, and strong families and communities help to deter crime in communities.

I will work with housing advocates and City agencies to put working families in the foreclosed properties in our Ward.

I would co-sign an ordinance to that effect. I would also support legislation that gives first refusal
rights to the residents of the block in which the foreclosed homes are located. Many people have
told me that they would like to purchase the homes for their children but do not know how to
proceed with the inquiry.

I would support reporting from NSP owners that they are following HUD guidelines, and
support a future denial of funding if not followed.

No response provided

First, I believe the city should monitor the foreclosed property better and prevent the so-called
zombie properties from spreading throughout our city. Zombie properties are foreclosed homes
where the bank refuses to confirm the sale. The city can prevent this practice by identifying these
properties and obtaining first lien priority. These properties in turn can be used to create
affordable homes for families at 40% and 60% of AMI.

No Response Provided.

Chevette A. Valentine IVI-IPO 2015 Chicago City Council

Any measure that will allow us to reduce the number of problematic units will be
welcomed and encouraged, I have not had the time to investigate options, at the same
time. I would look to demolish and rebuild I areas with a number of vacant properties that
are being used for illegal issues

As Alderman, I would take a keen interest in preserving and maintaining affordable housing
based on Area Median income. When our properties become foreclosed and are saved, we
should develop a criteria and priority schedule to determine which areas and properties will be
economically feasible for the Ward to revitalize into affordable housing. This way, no property fit
for affordable housing or conversion into a community center or school goes by the wayside. I
support measures to reign in AMI limits that are too low for the corresponding neighborhoods in
which we are trying to preserve affordability.

No Response Above.

I believe the City is pre-empted by State law from regulating the banking
industry. However, I would support legislation at the state level that would accomplish that goal

No response provided

"No response provided"

Joseph J. Moseley II IVI-IPO 2015 Chicago City Council

N/A

No response provided

No response provided

We need to be creative and tough as we work to ensure that families in the 40%-60% of AMI
bracket can afford properties that go through the NSP program. Working with local lenders and
the NSP developers, I believe we can come up with some common-sense solutions. Loan
repayment assistance programs, reverse mortgages—we should put it all on the table to see what
works.

We need a program that establishes a partnership between the city and banks for EVERY foreclosed property in the city such that current resident individuals/families are given first option and prioritized by income before banks can offer these properties to developers and others. This can be done through a moratorium period during which foreclosed properties are publicly listed.

No response provided

Michael E. LaFargue IVI-IPO 2015 Chicago City Council

This will require further reiew on my behalf. While I do have knowledge of this type of targeting,
there are so many foreclosures in the,9th ward, I would like to be able to discuss a
comprehensive plan. My initial thought is that I would like to develop it in thirds. 1/3 30-40%
AMI, 1/3/ 40-60% AMI and the final 1/3 for individuals who qualify at or above AMI figures.

I will work closely with organizations that work with NSP. Since it creates a high quality
energy efficient housing for subsidies based on the income levels and neighborhoods. I will also
conduct open meetings and workshops in all parts of the ward ensuring constituents of this
benefit and encourage home ownership to everyone

No response provided

Michael E. LaFargue IVI-IPO 2015 Chicago City Council

This will require further reiew on my behalf. While I do have knowledge of this type of targeting,
there are so many foreclosures in the,9th ward, I would like to be able to discuss a
comprehensive plan. My initial thought is that I would like to develop it in thirds. 1/3 30-40%
AMI, 1/3/ 40-60% AMI and the final 1/3 for individuals who qualify at or above AMI figures.

Measures that I would take include an analysis, taking into account the economic level of the 7th
ward as a bench mark when determining affordability.

I’ll do everything that I can to make this happen, but I don’t have a precise answer on how to do it
at this point.

I will support and introduce ordinances designed to obtain federal assistance through the city to
buy or subsidize abandoned or buildings in foreclosure.

Carlos Ramirez-Rosa IVI-IPO 2015 Chicago City Council

The City of Chicago’s NSP includes three neighborhoods in the 35th Ward: Albany Park, Logan Square, and Hermosa. I will work to ensure my ward service office is connecting low income families with the NSP and that the City of Chicago is assisting families at 40% and 60% of AMI find the requisite financing to purchase NSP homes.

I would make sure that those families who qualify for the NSP (and others in the community as well) are required to undergo financial training seminars to help them manage their finances and get to a stable place and prevent the cycle from repeating itself.

No response provided

I am not familiar with the options that are currently being discussed, but I would engage in the
same process that I plan to use for all such issues; Dissect options with my network of experts,
Simplify their suggestions, present simplified description of the issue and the proposed solutions
to our community and poll for the most wanted route.

I’m a strong supporter of making sure folks from the community and folks buying a home for their
personal use get privilege under the NSP. It should be not used for developers.

Susan Sadlowski Garza IVI-IPO 2015 Chicago City Council

candidate's responce

Addressing the citywide foreclosure problem is a necessary component to improving
Chicago’s economy. When families lose their homes, it hurts the communities they live in
as well. This problem is exacerbated when those homes remain vacant, and the city must
explore all options to ensure those properties are made available at affordable rates. We
must ensure these properties are returned to the tax rolls for the health of the
neighborhoods and the economy of Chicago.

I will introduce and support legislation to guarantee that some of the foreclosed
properties saved through the Neighborhood Stabilization Program are made affordable to families
at 40% and 60% of AMI.

Work to amend the laws that created the Neighborhood Stabilization Program to
include making homes affordable for this targeted group.

These provisions must be in the program in order for the Neighborhood Stabilization Program to be effective. There needs to be a percentage set aside of affordable housing to satisfy this need.

Stephen Niketopoulos IVI-IPO 2015 Chicago City Council

Taking the program and including nonprofits would be the best start, looking at
alternative ways to increase affordable housing and availability. Programs like Action Now and Housing Action Illinois.

No response provided

I have already required developers to devote units at 40 and 60 percent as well as
market rate.

"No response provided"

No response Provided

It should apply to property the city buys.

I would not base it on AMI, but on community area income. I would propose and
support an ordinance to set aside a third of the homes that are saved.