City of Chicago Ordinances Eminent Domain
On July 25, the City of Chicago City Council heard a resolution calling for a "hearing concerning the implementation of a program under which the City of Chicago would acquire underwater mortgages through eminent domain."
The resolution states “that the Corporation Counsel, the Commissioner of the Department of Housing and Economic Development, the Chief Financial Officer, and representatives from the residential mortgage industry are hereby invited to appear before the Joint Committee of the Committee on Finance and Committee on Housing and Real Estate to testify at a hearing concerning the implementation of a program under which the City of Chicago would, acquire underwater mortgages through eminent domain."
To view R2012-695, please click here.
Safeguard Properties is the largest privately held field services company in the country. Located in Cleveland, Ohio and founded in 1990 by Robert Klein, Safeguard has grown from a regional preservation company with a few employees and a handful of contractors performing services in the Midwest, to a national company with nearly 1,000 employees. Safeguard is supported by a nationwide network of subcontractors able to perform any requested superintendence, preservation, and maintenance functions, as well as numerous ancillary services in the U.S., the Virgin Islands, and Puerto Rico.