What proportion of Goal 1 overall is complete at this point?
100%
What are the barriers and opportunities for completion that impacted goal 1 in the last month?
We completed a robust training for the members of Jumpstart Housing Cooperative. The primary barrier was time as the housing work is on top of ChiFresh and everyone's plate is very full! The biggest opportunity was that many of these trainings were also helpful for ChiFresh as well (leadership, conflict resolution, etc.)
What proportion of Goal 2 overall is complete at this point?
100%
What are the barriers and opportunities for completion that you impacted goal 2 in the last month?
We were able to acquire the full capital stack, build out pro-forma financials, and set up an accounting system for the cooperative. The primary barrier for lining up capital was that, in our experience, there is much more private / foundation funding available for worker cooperatives than for housing co-ops. However, we leveraged previous relationships with ChiFresh lenders (Shared Capital Cooperative, JCUA, Crossroads) to meet our financial needs. Our pro forma financials were not 100% accurate, but they were quite close and the cooperative is on its way to being break even.
What proportion of Goal 3 overall is complete at this point?
100%
What are the barriers and opportunities for completion that you impacted goal 3 in the last month?
We purchased and renovated a 6,120 sq foot residential building in Grand Boulevard. The timeline for property acquisition got pushed back to late September (we had hoped to close in June), because of a combination of capital access and bureaucratic hurdles. On capital access, our lender's timeline extended significantly because of their unexpectedly large pipeline. On bureaucracy, the previous buyer did not have clear title of the property. There were multiple important opportunities that supported us to make this acquisition happen. First, Jason Tompkins of the Illinois Worker Cooperative Alliance and NASCO board helped us identify the property and negotiate terms; and Jeff Leslie and his students at the Housing Transactional Clinic at UChicago provided critical legal support.
Did you access Technical Assistance for your CWB project last month?
Yes
Which TA provider(s) did you work with within the Phase I CWEB grantees?
| TA Provider | Hours Spent | Satisfaction |
|---|---|---|
|
Urban Homesteading Assistance Board (UHAB) |
4 |
Neither satisfied nor dissatisfied |
Which TA providers did you work with OUTSIDE of the Phase I CWEB grantees?
| TA Provider | Hours Spent | Satisfaction |
|---|---|---|
|
UChicago Transactional Housing Clinic |
40 |
Very satisfied |
Did someone from your organization attend the Working Group this month?
Yes
How would you rate the usefulness of the working group to your project last month? (on a scale of 1-5)
Neither useful nor unuseful
How would you rate the usefulness of the Working Group for building community?
Somewhat useful
What have been the two most valuable contributions of the Working Group this month?
Please share any comments about the working group meetings.
How many TOTAL housing units did you preserve or create last month? (it is okay if the answer is zero)
4
How many TOTAL CWB businesses did you develop last month? (it is okay if the answer is zero)
1
Number of stakeholder meetings held related to your Pre-Development Project?
110
Number of community meetings attended last month related to your Pre-Development Project?
0
Service / Capacity
| Service | Capacity |
|---|---|
|
Accounting & Financial Management |
4 |
|
Advocacy |
1 limited ability |
|
Conflict Resolution |
4 |
|
Cooperative Development and Operations |
4 |
|
Education & Training |
4 |
|
Fundraising or Raising Capital |
4 |
|
Governance / Legal |
5 extensive ability |
|
Marketing & Communications |
2 |
|
Other |
N/A |
|
Project Management |
4 |
|
Real Estate Acquisition & Development |
4 |
|
Relationship Building |
5 extensive ability |
|
Research |
5 extensive ability |
Other (please describe and include ranking)
What constraints or limitations with internal capacity is the organizarion experiencing related to its Pre-Development Project?
The primary limitation we are experiencing is enough project management capacity given our other projects and commitments. However, our partner organization, Upside Down Consulting, recently hired another project manager to support in this area.
What opportunities, if any, did the organization take advantage of related to its Pre-Development Project?
I want to again lift up how incredibly helpful the UChicago Transactional Housing Clinic is. We also spoke with wonderful people in the local ecosystem: Linda Lutton from PHICO, James Yelen from Enterprise, Calvin Holmes and David Feinberg from CCLF, Jason Tompkins from Illinois Worker Cooperative Alliance and NASCO, Daniel Miller from NASCO, and many more!
Please use this space to elaborate, contextualize, or add any additional info about the details submitted in your report:
Where do we submit pictures? We have great ones!
