Micro-Market Recovery Program (MMRP)
Micro-Market Recovery Program (MMRP)
The Micro-Market Recovery Program is a coordinated effort between the City of Chicago, not-for-profit intermediaries such as GADC, Neighborhooh Housing Services of Chicago, and non-profit and for-profit capital sources. The goal of MMRP is to improve conditions, strengthen property values, and create environments supportive of private investment in targeted areas by strategically deploying public and private capital and other tools and resources in well-defined micro-markets. In an effort to re-create sustainable market forces and strengthen values, MMRP operates in target market areas of neighborhoods with widespread foreclosure and a lack of private re-investment activity. These micro-markets include an area in Auburn Gresham and Englewood, where there is strong evidence of the potential for the revival of market interest through community and city-wide intermediary involvement.