GSDC

“I knew enough to know that I’d have been signing my death warrant,” says recent GSDC home counseling client Alexis Smith. Smith, a West Englewood homeowner, knew the loan modification – or “loan mod” – she refused to sign and that a for-profit housing counseling agency negotiated for her with lender Wells Fargo was a sham. Facing foreclosure in August 2008 on a mortgage with an interest rate over 10%, a Cook County judge granted her time to pursue a workout with her lender: to keep the home, she would need a more affordable monthly payment.

Days after Smith’s case was finally – and successfully – resolved by a GSDC counselor in April 2009, Illinois Gov. Pat Quinn gave those in danger of similarly falling behind on their mortgages relief. With Southwest Side leaders standing alongside, he signed into law (signing pictured above) a grace period of up to 90 days before foreclosure proceedings may be initiated against borrowers who fall behind, a period granted if they pursue free government-certified housing counseling to seek a workout with lenders. The law’s chief sponsors were Sen. Jacqueline Collins (D-16) and Sen. Terry Link (D-30).

Under the leadership of 63rd St. business owners and community residents, the 63rd St. Growth Commission is in the midst of a planning and visioning effort for the business district. The effort formally began in October ‘07 with a visioning session in which business owners discussed what they wanted to see accomplished in the area in the near future. That session led to the creation, over the next year, of business owner-led issue-area committees that have guided different Growth Commission initiatives. The planning effort continues and grows with the recent start of the 63rd St. Full Circle Mapping and Survey Project. (Pictured left: the SSA physical survey being conducted)

Recently, GSDC's Industrial Division - in collaboration with the new City Colleges of Chicago Workforce Institute (CWI), the Chicago Public Schools' Department of College and Career Preparation (DCCP), the Illinois Department of Employment Security (IDES), and RetroTax - organized a workshop to 1) highlight the many federal, state, and city job tax credits local employers can take advantage of in hiring residents local to job sites and 2) showcase local workforce resources such as CWI and DCCP.