Through the program’s expansion, some South Shore residents will be eligible to apply for down-payment assistance for the purchase of a home and for exterior-house improvements. The South Shore program only serves the neighborhood’s O’Keefe area, from 67th to 71st streets between Jeffery Boulevard and South Shore Drive.
MMRP is funded through the Neighborhood Housing Services of Chicago.
The Neighborhood Network Alliance, or NNA, a South Shore nonprofit dedicated to community outreach, is partnering with the city, South Shore Works and the South Shore Chamber of Commerce on the newest addition to the program. The alliance will connect potential applicants to the program and can assist them through the process.
“We are very excited to be in alignment and partnering with the city on this program, which will provide timely and much-needed support for homeowners in South Shore who want to stay in the community,” said Val Free, CEO of the NNA, in a statement. “Stabilizing the housing stock in South Shore continues to be an absolutely pivotal issue in our community.”
The South Shore program aims to award 40 families with home-improvement grants and 13 new homebuyers in 2022 for a total of $1.2 million, Free confirmed.
South Shore is a neighborhood with a considerable number of condominiums. The NNA hopes that the initiative will help strengthen the area’s condominium market and give some stability to local homeowners struggling financially.
Eligible low- and moderate-income residents can apply for up to $15,000 for the down-payment assistance program for the purchase of a single-family home or condo. Eligibility requirements and the application can be found on the Neighborhood Housing Services of Chicago’s website.
More information about the home improvement grant is forthcoming.