What proportion of Goal 1 overall is complete at this point?
60%
What are the barriers and opportunities for completion that impacted goal 1 in the last month?
We are in a process with UofC legal clinic to finish our bylaws and they are very close to being complete. We will be re-examining whether to become a 501c3. The plan is to re-read the legal document which discussed safe harbor as a method to justify 501c3 status for an affordable housing cooperative. We have an appointment scheduled with our accountant this week to have him calculate our tax risk if we are lucky enough to win an SEIP grant to buy the building at 3125 W Cermak. Our two contractors continue to work on our website, and our pro formas, respectively. Two Board members, Mandie Ryan and Robin Semer, attended the UHAB Training for Trainers and received valuable training to provide to our members. We also have spoken with community members about obtaining share loans to move into the coop.
What proportion of Goal 2 overall is complete at this point?
40%
What are the barriers and opportunities for completion that you impacted goal 2 in the last month?
We are interested in buying the building at 3125 W Cermak with 6 apartments and one empty storefront but they will not enter into a purchase agreement with us until we have a loan in place. We have submitted a loan request to CCLF but have not received a response. We plan to apply to LEAF as well, but their representative became ill and can not meet with us till later this week or next week.
What proportion of Goal 3 overall is complete at this point?
10%
What are the barriers and opportunities for completion that you impacted goal 3 in the last month?
We have talked with many nonprofit entities and other cooperatives, and to that extent we have completed more like 50% of this task. But our level of success is low and therefore, I leave the percent complete at 10%.
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) |
48 |
Very satisfied |
|
The Resurrection Project |
2 |
Very satisfied |
|
Chicago Community Loan Fund |
2 |
Somewhat satisfied |
Which TA providers did you work with OUTSIDE of the Phase I CWEB grantees?
| TA Provider | Hours Spent | Satisfaction |
|---|---|---|
|
Chicago Rehab Network |
18 |
Very satisfied |
Did someone from your organization attend the Working Group this month?
No
How would you rate the usefulness of the working group to your project last month? (on a scale of 1-5)
How would you rate the usefulness of the Working Group for building community?
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)
0
How many TOTAL CWB businesses did you develop last month? (it is okay if the answer is zero)
0
Number of stakeholder meetings held related to your Pre-Development Project?
3
Number of community meetings attended last month related to your Pre-Development Project?
3
Service / Capacity
| Service | Capacity |
|---|---|
|
Accounting & Financial Management |
4 |
|
Advocacy |
4 |
|
Conflict Resolution |
2 |
|
Cooperative Development and Operations |
3 some ability |
|
Education & Training |
4 |
|
Fundraising or Raising Capital |
3 some ability |
|
Governance / Legal |
3 some ability |
|
Marketing & Communications |
3 some ability |
|
Other |
N/A |
|
Project Management |
4 |
|
Real Estate Acquisition & Development |
3 some ability |
|
Relationship Building |
4 |
|
Research |
4 |
Other (please describe and include ranking)
What constraints or limitations with internal capacity is the organizarion experiencing related to its Pre-Development Project?
Our constraint at this time is obtaining a loan when we have no assets and our community is in fear of what is to come in the year ahead.
What opportunities, if any, did the organization take advantage of related to its Pre-Development Project?
The training being provided by UHAB and CRN.
Please use this space to elaborate, contextualize, or add any additional info about the details submitted in your report:
We are hoping that a loan will come through soon, that we can buy the building and populate the building with community members. That would constitute success for us.
