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Windy City Targets Zombie Homes

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first_imgSign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago Home / Daily Dose / Windy City Targets Zombie Homes Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Share Save About Author: David Wharton Previous: And the Best-Run City in America Is … Next: Why Homeowners are Losing Sleep Over Rising Debt The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Foreclosure Vacant and Abandoned Homes zombie homes 2018-07-09 David Wharton Related Articles Tagged with: Foreclosure Vacant and Abandoned Homes zombie homescenter_img in Daily Dose, Featured, Foreclosure, Government, Journal, News Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Demand Propels Home Prices Upward 2 days ago Windy City Targets Zombie Homes The Best Markets For Residential Property Investors 2 days ago Like many communities, Chicago came out of the 2008 financial crisis with a zombie problem. So-called “zombie homes”—abandoned properties caught in the midst of the foreclosure process, but which are not yet under the control of the servicer or noteholder—lingered in many neighborhoods, driving down property values and attracting crime and urban blight. Now a new story by U.S. News & World Report has examined how the Windy City has been combating its zombie infestation in recent years.When it comes to fighting zombies, the best approach is to take things block-by-block—at least, that’s the Chicago way. As reported by U.S. News, Chicago spent nearly $170 million fighting the problem in the aftermath of the financial crisis, courtesy of HUD’s Neighborhood Stabilization Program. In 2011, Chicago city government launched an initiative called the Micro Market Recovery Program (MMRP). The MMRP narrowed its focus to specific blocks that had high concentrations of these abandoned foreclosure properties, then set out trying to figure out ways to rehab them into affordable homes for rental or purchase.David Reifman, Commissioner of the Chicago Department of Planning and Development, told U.S. News, “We wanted to focus our limited resources on key areas to bring back whole blocks at a time.”The MMRP united the efforts of the Chicago Department of Planning and Development with local community groups such as Local Initiatives Support Corporation Chicago, working together to try and attract the interest of investors and families who could help bring Chicago’s zombie homes back to life.Between 2011 and December 2018, a combination of city budget, grants from nonprofits, and other sources will have invested nearly $13 million in MMRP. The Illinois Attorney General’s office also chipped in approximately $3 million, courtesy of a settlement with banks accused of unscrupulous lending practices leading up to the financial crisis.Nor are the results obvious purely from a financial standpoint. U.S. News reports that foreclosure filings in the targeted areas decreased by “double digits” between 2011 and 2016. The northern targeted region saw the strongest results with a 67.6 percent decrease, followed closely by the middle region of the city with a 66.1 percent decrease. Foreclosure filings decreased by 69.4 percent citywide during that same time period, according to U.S. News.”As long as the demand and the need are there, we will continue,” said Reifman. “Right now, our recovery is steady but not complete.” Demand Propels Home Prices Upward 2 days ago David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 16 years’ experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at [email protected] July 9, 2018 2,407 Views last_img read more

Three accused of stealing cooking gas granted bail

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first_imgThree men who have been charged for stealing cooking gas from their employer, H. H. V Whitchurch and Company, have been granted bail.On Monday, the defendants; Neville Boston, Murphy Carlisle and Narrin Lewis appeared before the magistrate’s court in Roseau, where the charge was read to them.According to the charge, the men allegedly stole thirteen (13) bottles of 20lbs cylinders on July 12th, 2012, a total value of $1733.94.They all pleaded not guilty to the charge and were granted $10, 000.00 bail by Chief Magistrate, Evelina Baptiste.Peter Boston stood as surety for his son, Neville Boston; David Carlisle stood as surety for his son Murphy Carlisle while Justina Angol and Kyle Sylvester, the manager and owner of Angol’s Fashion Boutique in Roseau, stood as surety for Narrin Lewis.Neville Boston and Murphy Carlisle have been ordered to report to the Roseau Police Station every Thursday between the hours of 7am and 7pm, while Narrin Lewis was ordered to report every Monday.Magistrate Baptiste also warned the defendants that they should not commit any other offence while on bail.The trial has been set for November 19th, 2012.Dominica Vibes News LocalNews Three accused of stealing cooking gas granted bail by: – July 16, 2012 Share Share Tweetcenter_img Sharing is caring! 20 Views   2 comments Sharelast_img read more

Berbice beat Essequibo by 146 runs

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first_imgBERBICE, the defending champions, completed a comprehensive 146-run victory over a hapless Essequibo team when their second- round Hand-in-Hand Under-19 Inter-county three-day encounter ended yesterday at the Lusignan Community Centre ground.Set 270 to win on a difficult pitch and sluggish outfield, the Essequibo batsmen needed to show some grit, but their inept and injudicious batting didn’t help their cause either, and apart from openers, Orlando Jailall (24) and Kevin Christian (31) they were cleaned up for 123.Scores in the match: Berbice 200 and 131-2; Essequibo 62 and 123.Earlier, Berbice declared their second innings at 131-2 in 13.2 overs. Alex Algoo and man-of-the-match, Junior Sinclair, struck attacking half-centuries to lead their team to a commanding score.Algoo, the 18-year-old, struck five fours and four sixes in a 28-ball 52, while Sinclair hit an unbeaten 50 off just 33 balls with three fours and four sixes.Kelvon Anderson made 11 and was the other batsman dismissed while Seon Glasgow was left unbeaten on 12 when the declaration came. Spinners Amit Persaud and Lance Roberts were the two successful bowlers.The run chase was always a huge task, and indeed it proved beyond the Essequibians. Apart from the opening stand, the remaining batsmen failed to build on partnerships.It was a complete bowling effort from the defending champions, with spinner Nigel Deodat claiming 4-45, Sinclair 3-12, Kelvin Umroa 2-23 and Anderson 1-25.The third and final round starts tomorrow.last_img read more

Galaxy Gazing hosted by Northern Environmental Action Team

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first_imgFORT ST. JOHN, B.C. – The second Galaxy Gazing Event hosted by the Northern Environmental Action Team, offered by Bruce Kosugi, a local astronomy aficionado is taking place this week.On Wednesday, October 2nd, 2019 at 7:30 pm (cloud dates Oct. 3, 2019) you can learn about constellations in the northern hemisphere.There will be instruction on how to best view the night sky and how humans impact how they see the world around them.- Advertisement -Galaxy Gazing is a family-friendly event. Tickets for adults are $10 ticket and free children 16 years of age and younger. Spaces are limited to 15 people.Participants are encouraged to bring binoculars or a telescope if they have one as we will be gazing from the back deck.To view the FB Event; CLICK HERE. Advertisementlast_img read more