Click here to view the 2023 Annual Report.
TRP awarded $2 million from Attorney General Lisa Madigan and the National Foreclosure Settlement
The Resurrection Project (TRP) has been awarded a $2 million grant by Illinois Attorney General Lisa Madigan as part of the National Foreclosure Settlement. TRP is one of only 54 award recipients named by the Attorney General, which has awarded a total of $70 million to nonprofit organizations throughout Illinois that are working to reverse the effects of the foreclosure crisis.
The Attorney General grant will fund a collaborative effort between TRP, Self Help Federal Credit Union, Brighton Park Neighborhood Council, Chinese American Service League, and the Interfaith Leadership Project to strengthen communities on Chicago’s southwest side and suburban Cicero.
The partnership will leverage the $2 million grant to generate or preserve more than $27 million in community investment. TRP will:
• Establish a loan loss reserve to stimulate $2.4 million in new home value.
• Increase foreclosure prevention services and outreach to preserve more than $14 million in community wealth.
• Increase homebuyer education and ramp up TRP’s new social enterprise—TRP Realty—to leverage more than $8.4 million in community wealth.
• Acquire properties affected by the foreclosure crisis and rehab them into affordable housing, representing a $2.25 million investment.
Our partnership will focus on working with each other and other grantees under the National Foreclosure Settlement to stimulate the local economy, create jobs, prevent foreclosures, catalyze homeownership, and reduce blight.
TRP would like to salute and thank Attorney General Lisa Madigan and her colleagues for their historic work in addressing fraudulent practices during foreclosure proceedings. This award will have a tremendous impact in communities across Illinois for years to come.
For additional information on the National Foreclosure Settlement, please visit the Illinois Attorney General’s web site.
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