Raport CCWBE

The Resurrection Project is actively engaging with our colleagues at CCWBE and UHAB to share resources and provide support as we continue to collaborate with partner stakeholders and co-op prospects by providing education on credit stabilization and limited/ shared equity. The Resurrection Project is also working towards securing the necessary documents, researching entities, and connecting the dots as we develop a share loan product. We are taking an integrated approach to ensure proper guidance in identifying and generating loan documentation specific to the state of Illinois.

The Resurrection Project has not experienced any constraints because we have put in place practices that have given great success. We are actively engaging residents and gathering feedback and information about their needs and what they are looking for in cooperative ownership. We have a well-prepared plan that ensures we are ready and on track with the project. With the help of our CCWBE and UHAB colleagues, we have collectively contributed to the project's progress.

We participated in the 2024 Chicago Worker Cooperative Developer training organized by Jenna Pollack, attended the UHAB incubator launch with Mark Smithivas, Peter Dean, and Andrew Richer. During our first meeting, we were able to connect and introduce ourselves to other co-ops and stakeholders, identified opportunities to collaborate and support education by offering to host an incubation session. We met with Alex Cabral from Grounded Solutions, Mark Smithivas and Peter Dean from UHAB, Linda Lutton from PIHCO, Robin Semer from La Villita Co-op and its residents. We also met with the residents of The Little Village Co-op for a virtual workshop on co-operative ownership and ITIN options. And we attended the CWB LEHC Monthly Working Group.

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We connected to Fatima Perez from Title Helpers who has 20+ years working for title companies. She provided some helpful resources and referred us to a loan document preparation service that may be able to provide Illinois specific documentation. We connected with Frank Binnette from CIBM Mortgage to discuss share loans and related title questions. The Resurrection Project is expecting to follow up with them soon. We also consulted with Margaret Lund from Co-Opera Co. to discuss this topic. Margaret is a long-time leader in the cooperative space. We also got to meet with new cooperative folks during the incubation session and colleagues and partners who are providing technical and logistical support to these groups.

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Mark Smithivas, Peter Dean, and Andrew Richer

The TA members and The Resurrection Project have been diligently collaborating to gather documentation resources through crowdsourcing. They meet regularly and actively participate in group meetings and program events. Thanks to the strong partnership, the project has made great progress and is on track with our goals.

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