Evanston gets $1.5M from foreclosure settlement

The Evanston Revitalization Partnership today received a $1.5 million grant as part of Attorney General Lisa Madigan’s distribution of $70 million in national foreclosure suit settlement funds across Illinois.
Community Partners for Affordable Housing, the lead organization, and other groups in the partnership will work to acquire and rehabilitate at least ten vacant units for low- and moderate-income residents.
In May the City Council approved a request from CPAH up to $277,685 in federal HOME funds to purchase and rehab two housing units, amid suggestions that it might also be in line for the grant from the forclosure settlement funds.
The project will target western portions of the city's 2nd Ward, which was not included in the city's $18 million federal Neighborhood Stabilization Program grant, which instead focused on cenus tracts in the 5th and 8th wards that were hit earliest by the foreclosure crisis.

The census tract block groups targeted for the new affordable housing are highlighted in blue.
City officials say that after Evanston received the NSP2 grant foreclosures jumped dramatically in parts on the 2nd Ward.
The new grant money "will go a long way in helping maintain diversity in local home ownership and rental markets,” Mayor Elizabeth Tisdahl said in a statement.
CPAH's executive director, Rob Anthony, an Evanston resident, says the non-profit works in Chicago’s North Shore suburbs to provide quality affordable housing and ongoing support and education to ensure resident success.
Anthony said the grant will turn around homes that have been a drain on the community, assist local families who struggle to afford housing and improve the local housing stock.
Alderman Peter Braithwaite, 2nd Ward, said the grant offers an exciting opportunity to improve the neighborhood.
Anthony says CPAH's work has been recognized nationally by the Urban Land Institute, the Lincoln Institute and the National Housing Conference. 
Related stories
More low-income housing seen for 2nd Ward (May 29)
Group seeks OK for more affordable rentals in 2nd Ward (May 28)

Comments

Who should get the money ?

Why not give the money to those actually affected instead of a new project that the politicians will want to [mis-]manage and I'm sure get their votes for.
It is individuals who were hurt not some group who thinks they know where money should be spent.