BPI works to expand and preserve the supply of housing affordable to working people, seniors and young families. We especially seek to increase the availability of affordable housing in areas of opportunity with access to good jobs and good schools. We also seek to stabilize and strengthen neighborhoods that already have large supplies of affordable housing.
Much of our current work is focused on responding to the foreclosure and vacant property crises, which are reducing the supply of affordable housing and dramatically undermining quality of life in neighborhoods plagued with abandoned properties.
First, we strive to help homeowners and renters facing foreclosure stay in their homes, by creating special programs like the Cook County Circuit Court Foreclosure Mediation Program and new policies such as the City of Chicago ordinance designed to protect renters in foreclosed buildings.
Second, when homes or rental units can’t be saved, we have helped develop state and local laws that work to ensure that vacant properties are well-maintained and secured so that they do not harm neighborhoods or further erode nearby affordable housing stock.
Third, we seek to return vacant foreclosed properties to productive use through innovative programs like formation of the Cook County Land Bank.
To advance these goals, BPI pursues a multi-faceted approach consisting of:
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