City of Chicago NSP Budget Worksheet

Private Proposed NSP

Activity Financing Budget Total Funding Units Notes

Acquisition for Rehab $26,562,500 $ 26,562,500 425

Rehab for Rental 13,500,000 $4,500,000 $ 18,000,000 150 incl in the 425 units
Rehab for Homeownership 33,000,000 $4,125,000 $ 37,125,000 275 incl in the 425 units
Acquisition for Demolition $2,500,000 $ 2,500,000 100
Demolition $2,000,000 $ 2,000,000 100 incl in the 100 units
Land Bank $2,000,000 $ 2,000,000 100 incl in the 100 units
New Construction 12,000,000 $2,400,000 $ 14,400,000 60 incl in the 100 units
Homebuyer Financing/Loan Pool $5,626,715 $ 5,626,715 275 inc in the 425 units
Administration $5,523,802 $ 5,523,802
Total $58,500,000 $55,238,017 $ 113,738,017 525 Housing & Land Bank

The City of Chicago NSP program calls for the acquisition of 425 properties to be rehabbed. Of this amount, 150 will be rehabbed
for rental units, and 275 will be rehabbed for homeownership. An additional 100 properties will be acquired for demolition. These
properties will be land banked and the resulting vacant lots will be sold to developers, who will construct new homes. The City
anticipates that 60 of the 100 properties acquired for demolition will be eventually developed for new homes within the plan period.

This worksheet was prepared by Valerie F. Leonard using data from the City of Chicago's NSP Substantial Amendment, including
section G. Information by Activity, and the NSP Budget Summary.