One of the largest rescues ever of troubled privately-owned Section 8 housing is occurring in Chicago, according to MacArthur grantee the National Housing Trust. In an effort to save more than 1,000 affordable housing units in Chicago’s North Lawndale neighborhood, the City of Chicago recently acquired the properties and will use funds from the U.S. Department of Housing and Urban Development to improve and manage them. It is the first application of a new law called the Schumer Amendment, which was designed to encourage the transfer of HUD-controlled affordable housing properties to entities that agree to maintain the properties and keep them affordable. (3/6/06)
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