Lakeside Community Development Corporation's "Lakeside Community Association Program" has operated for more than five years as the leading voice for homeowners living in small, self-managed condominium properties. In that time, we have assisted thousands of individuals and helped address the diverse needs of countless condominium associations through highly effective advocacy at the local, state, and federal levels. Lakeside CDC continues to be the only HUD-approved nonprofit organization offering badly needed education and counseling services to homeowners living in community associations. Foreclosures, increased operating costs, and continuing regulatory burdens have a disproportionate impact on smaller associations and without Lakeside, many boards would have no idea how to confront – and survive – these challenges.

On December 28, we received the disappointing news that the City of Chicago has chosen not to renew funding for our Community Association Program for 2012, citing a lack of resources. The city's Department of Housing and Economic Development strongly recommended that Lakeside CDC continue to receive funding for our widely acclaimed program, but that decision was overruled by the Office of Budget and Management, which has final say on these things.

Funding from the city represented over 60 percent of the program budget and allowed us to offer most program services at no cost to participants. Without this funding, we will be forced to reduce operations of the Community Association Program and serve a much smaller number of distressed homeowners. A great percentage of our community's housing needs will be unmet. It is also unlikely we will be able to continue offering our services at no cost.

In the meantime, the City of Chicago has endorsed and promoted the creation of thousands of units of new condominiums each year. High development costs, the need for dense housing close to transit, and energy conservation efforts will continue to promote multifamily home ownership in condominium communities. Condominium ownership will certainly continue to be the primary option for first-time homebuyers and buyers with limited incomes. We are currently working with officials at the City of Chicago to explore alternative funding options for Lakeside's Community Association Program. We are also reaching out to private donors to help fill this unexpected major financial crisis.

While we seek out short-term solutions to this unprecedented and unexpected financial crisis, we are asking you to demonstrate your support for the Lakeside Community Association Program.

Here are two things you can do:

1. Write a short statement and explain what our program has meant to you and your association or firm. It is clear the City of Chicago does not understand how important this program is and you can help us deliver that message. This e-mail address is being protected from spambots. You need JavaScript enabled to view it !

2. Make a donation of support to the Lakeside Community Association Program. We need to make up $45,000 of revenue that was anticipated to come from the city grant. Your contribution will help a ton! You can make a donation online or send a check to Lakeside CDC, 1652 W. Wallen Ave., Chicago, IL 60626.

Your support at this time is greatly appreciated. For further information, please contact Brian White, Executive Director.