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PROPOSED RESOLUTION
CELEBRATING THE COOK COUNTY LAND BANK AUTHORITY ON THE TRANSFORMATION OF 1,000 VACANT AND ABANDONED PROPERTIES INTO HOMES, OFFICES AND COMMUNITY SPACES ACROSS THE REGION
WHEREAS, the Cook County Land Bank Authority (CCLBA) is a nonprofit chartered by Cook County in in 2013; and,
WHEREAS, the CCLBA acquires properties that have sat tax‐delinquent, abandoned and vacant for years and sells them at fair‐market rates to qualified community‐based developers; and,
WHEREAS, the properties are then rehabbed for prospective homeowners or small business owners, reducing blight and generating community wealth across Cook County communities; and,
WHEREAS, the CCLBA approach not only keeps revenue and jobs in the community, but it also helps local developers grow their businesses; and,
WHEREAS, the CCLBA has generated more than $95 million in community wealth, disrupting decades of divestment and enabling small developers to build businesses and create jobs, leading to greater stability in their own neighborhoods; and,
WHEREAS, this month, CCLBA announced that through its programs, community developers have now renovated 1,000 previously vacant and abandoned homes in Cook County, returning them to productive, tax-generating use; and,
WHEREAS, the 1,000th redeveloped property, located at 3838 W. Adams St. in Chicago’s West Garfield Park community, was acquired by local community developer; and,
WHEREAS, the property at 3838 W. Adams sat vacant for at least five years before being purchased from the CCLBA, by a local developer looking for a way to give back to the West side communities; and,
WHEREAS, the CCLBA will continue to enrich local communities, increase homeownership, empower local developers, and rehab otherwise vacant land to productive use on the tax rolls.
NOW, THEREFORE BE IT RESOLVED, the Cook County Board of Commissioner and residents of Cook County celebrate the 1,000th transformation of vacant and abandoned properties into homes, offices and community spaces across the region.
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