Housing Action Illinois (HAI) – a statewide membership organization that works to protect and expand the availability of quality, affordable housing – has announced its new Community Revitalization Challenge (CRC), which connects community-based organizations with financial institutions to design and launch projects that increase access to affordable housing across Illinois.

Through Community Reinvestment Act (CRA) education, networking, mentorship, and collaboration, community organizations will have the opportunity to develop strong relationships with financial institutions, prepare robust project proposals, and, if their project is selected, receive seed funding.

By working closely with nonprofits during the project planning stage and into the execution, financial institutions will be able to partner with different community groups in their service areas to ensure their investment is fulfilling their internal goals and benefiting the communities most in need.

The goals of the CRC are to assist community-based organizations and financial institutions in forming mutually beneficial relationships, and to channel funding to CRA-eligible projects that increase access to affordable housing, reduce homelessness, ease the burden of housing costs, and stabilize communities.

Financial institutions and nonprofits interested in learning more about the CRC are encouraged to contact HAI at CRCinfo@housingactionil.org or 312-939-6074, extension 202 or 203.