Businesses join in on the task of stabilizing neighborhoods

With many Neighborhood Stabilization Program projects under way and poised to return many foreclosed homes to the market, the task for municipalities is now to connect buyers to these homes. The Metropolitan Planning Council in cooperation with employers, financial institutions, and municipalities is working to implement Employer Assisted Housing (EAH) programs in the City of Chicago and South and West suburbs in order to create demand, stabilize neighborhoods, and encourage workers to live locally. In an EAH program, an employer offers home purchase assistance such as down payment assistance, housing counseling, or loans with favorable terms to employees who choose to buy a home in a target area.   
 
Learn more about MPC’s efforts to encourage EAH programs. 
 
See how CVS is creating a pool of potential homebuyers in the south suburbs.