Micro-Market Recovery Program
We’re excited to announce that South Shore has been designated as one of the target areas for the Micro-Market Recovery Program (MMRP). The O’Keefe area of South Shore will be the recipient of the pilot program resources including: home improvement grants, down payment assistance, free energy efficiency/weatherization services, developer assistance, and more.
The MMRP, started in 2011, is an initiative by the City of Chicago created in response to the foreclosure crisis and vacancy challenges faced by Chicago’s most vulnerable communities. Surveying housing conditions throughout Chicago revealed stark discrepancies in housing conditions from one community to another. Some neighborhoods were identified to require significant intervention to stabilize the local housing market, while others were only slightly affected by foreclosures and vacancy. To address those neighborhoods most in need, the City developed the MMRP, which concentrates resources to fight foreclosure and improve housing conditions in 13 different target areas, now 14 including South Shore.