Illinois REALTOR®: Future NSP Grants | Illinois Association of REALTORS®

Illinois REALTOR®: Future NSP Grants

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Setting the Stage for ­Future NSP Grants

By Sharon Gorrell, IAR Local Government Affairs Director

Virtually all IAR local Governmental Affairs Directors (GADs) have been working with their elected officials and municipal staff to implement the NSP program in cities and towns across the state.

This past August several members of the Illinois Association of REALTORS® took part in an important panel discussion with key decision makers on the Neighborhood Stabilization Program (NSP). REALTORS® Mabel Guzman of Century 21 S.G.R in Chicago, John Hoffman, broker-owner of Whyrent Real Estate Company in Oswego, and Elise Livingston with Re/Max Plaza in Richmond each gave an area market report and shared their thoughts and experiences on NSP thus far at the quarterly meeting of the Chicago Metropolitan Agency for Planning (CMAP). Several municipalities and counties were represented to hear the REALTOR® input. While a vibrant discussion took ­place, the resonating message was clear. Partnership with ­REALTORS® is key to meeting the goals that municipalities set to achieve with the program.

At the end of the meeting all hoped that this would set the stage for increased partnerships as the first round of grants (NSP1) are currently being allocated, in addition to any new programming that would result from the U.S. Department of Housing and Urban Development (HUD) approving NSP2 grant requests made by the City of Chicago, a CMAP consortium, and several others across the state. Grant approval is ­expected by the end of 2009.

IAR Local Governmental Affairs Director Tom Joseph reports the City of Joliet received funding of $3.5 million under NSP for the purchase and redevelopment of abandoned and foreclosed homes and residential properties. As of September 9, 2009, the city had used 35.5 percent of the funding to acquire 12 properties. Joliet is also part of the CMAP consortium. Will County has received 5.5 ­million dollars and has started working with REALTORS® to purchase properties to resell under NSP.

Rock Island and Quincy have pledged to work closely with local REALTOR® members as they put their NSP programs in place, according to IAR Local Governmental Affairs Director Kristie ­Engerman. Quincy plans to ­re-develop, sell and rehab homes in a specified neighborhood to provide affordable rental and homeownership opportunities for low and moderate income households working through the ­Illinois Housing Development Authority’s first-time homebuyer program. Rock Island plans to purchase and renovate properties to provide affordable homeownership opportunities for low, moderate income households and persons with disabilities.

For a list of NSP allocations by Illinois community, follow these links: