|
HISTORY
Metropolitan Housing
Development Corporation (MHDC) is a not-for-profit corporation chartered to develop, own, and manage low- and moderate-income
housing. It was created in 1968 by the Leadership Council of Metropolitan Open Communities to produce non-discriminatory
housing for low-income and minority persons in areas of emerging job growth.
|
|
- Produced more than 2,000 new or rehabbed units for low- and moderate-income families and the elderly.
- Secured
over $6 million in housing grants for rehabilitation projects.
- Obtained more than $60 million in mortgages
and other loans from HUD, IHDA, Cook County, DuPage County, Will County, the Federal Home Loan Bank, and other sources of
low-income housing development.
- Participated in landmark litigation that made it possible to develop low-income
family and elderly housing.
- Researched and published the study, "Chicago's Building Code: An Impediment to Affordable
Housing Development" with grants from the Amoco Foundation and the Graham Foundation. This study resulted in significant
changes to the city's building code.
|
Dr. Salvatore V. Ferrera, President
MHDC continues
to develop innovative programs to house low- and moderate-income families who are at a disadvantage because of rising costs,
racial discrimination, or lack of information. MHDC believes that people build neighborhoods and the neighborhoods build
communities. We know that we cannot do it alone - MHDC works with local not-for-profits, social service agencies, municipal
governments, and educational providers to create comprehensive and need-based services.
|