Affordable Housing and Foreclosure Avoidance Community Meeting held November 13, 2008

A community meeting was held on November 13, 2008 to discuss affordable housing programs and housing counseling assistance. Held at the Levy Senior Center, it was sponsored by the following organizations: CEDA Neighbors at Work, Interfaith Housing Center of the Northern Suburbs, Evanston Community Development Association (ECDA) and Evanston Housing Coalition. Ald. Holmes and Ald. Jean-Baptiste co-sponsored the meeting.

Topics included a description of resources available for moderate income housing and a presentation on assistance available to those potentially facing foreclosure. Participants were invited to join in the discussion with questions and comments.

All persons interested in attending future meetings should contact any of the sponsors or CLCLT at office@citizenslighthouse.org.

Grant Award Received

We are happy to announce that we have been awarded a grant from The Field Foundation of Illinois, Inc. The grant provides funds for general operation support. We are grateful for the generous support of The Field Foundation for our work to develop permanantly affordable homes for low- and moderate-income families. Please feel free to contact us about possible future projects. Send your inquiries to office@citizenslighthouse.org.

High Water Fails to Deter Families Seeking Affordable Housing Opportunities

Last month's once-in-a-century rain storms flooded Evanston streets and the Edens Expressway as well as interstate highways across the region. Yet on September 13^th, the same day that a month's worth of rain fell on Evanston, two families kept their commitment to visit our open house on a quiet South Evanston street. Their determination is indicative of the large and growing demand for affordable housing in Evanston.

CLCLT is unique because it retains ownership of the land in trust while selling the house to a qualified family. Typically federal housing funds are applied to purchasing and improving the house. These funds have income limits related to family and house size. State affordable housing funds have similar limitations.

Ironically, we obtained our first house a year ago, just as the current financial disaster began to dramatically unfold. Even then, the real estate market was reacting to the first remarkable waves of rapid changes in the housing and credit markets. We are fortunate to have a good working relationship with local banks. One of them provided construction financing at very favorable terms.

Although sweeping changes have affected the housing industry, we still have families of modest income receiving mortgage commitments to buy a house. Even in the best of times, buying a house was a daunting affair. We want to help all interested families, those who are ready as well as those who are planning for the future. Our organization is committed to supporting families that want and need affordable housing in Evanston.

Our board members and supporters work closely with each family as they plan to buy the house. CEDA Neighbors at Work is an Evanston organization that provides homebuyer counseling. We work closely with them and with HODC, another counseling agency serving Evanston. Our organizational structure includes board seats specifically designated for those who buy our homes and enter into a land lease with CLCLT. So it is unremarkable that, despite the swelling foreclosure crisis, nationally less than one tenth of one per cent of homes in a community land trust portfolio suffered a foreclosure during 2007 (source: National Community Land Trust Network).

Please contact us even if you are just thinking about home ownership. We want to work with you to realize your dreams of an affordable home in Evanston.

Remember that completion of a government-approved homebuyer counseling program is a requirement for all applicants. Feel free to contact Housing Opportunity Development Corporation, CEDA Neighbors at Work or Rogers Park Community Development Corporation directly to schedule a session.