Summit Mayor identifies more properties for NSP program
Summit Mayor Joseph Strzelczyk said he has identified 12 additional properties that may qualify for the National Stabilization Program (NSP) which provides Federal funding to convert abandoned properties into affordable housing.
The $1.4 million Federal program is administered by Cook County.
Strzelczyk met with Cook County Commissioner Jeff Tobolski last week to begin the process of building new townhomes identifying six lots already acquired on the 7600 block of West 63rd Place.
"We have 12 more properties that I think we should explore as potential targets for this program," Strzelczyk said.
"The NSP money is used as a catalyst to revitalize residential areas that have been blighted by recession."
The target properties include: 7624 W. 61st Place; 7610 W. 60th Place; 7241 W. 63rd Place; 7616 W. 60th Place; 7556 W. 61st Street; 5402 S. 72nd Court; 7430 W. 64th Place; 7442 W. 64th Street; 7439 W. 58th Street; 7614 W. 64th Street; 7532 W. 64th Street; and, 7622 W. 61st Place.
Strzelczyk said the Village of Summit does not own any of the above properties but will begin exploring the process of acquiring them for the program.
Under the program, according to Strzelczyk, each townhome would be approximately 1800 square feet and include three bedrooms and 2.5 baths. The units would feature granite countertops, stainless steel appliances, hardwood floors, a master suite, and granite and under-mount bathroom sinks.
Strzelczyk said that homeowners who qualify for the properties would have to live in them for a certain number of years. Properties that qualify include homes that have been in foreclosure.
Strzelczyk said buyers must meet income ceiling criteria. For example, one person buying the home must have an income of no more than $63,650. A four-member family could earn up to $90,000 and qualify for the home purchases under NSP. A six-member family could earn up to $104,000. Strzelczyk said prospective buyers go through a rigid criteria to determine their status and incomes.
Summit officials said they expect the first townhomes to be completed late this Fall. Once the homes are sold, proceeds will be used to purchase more lots and build even more homes until the NSP funds are depleted.