State agency to North Shore towns: Create plan to address housing affordability

The Illinois Housing Development Authority has told several towns north of Chicago they must address perilously low levels of affordable housing in their communities.

According to the report in the Chicago Tribune Friday, a survey showed several of the towns have seen affordable housing slip to less than 10 percent of housing stock. Towns cited by the agency as having a particularly critical shortage of affordable housing include:

  • Kenilworth
  • Glencoe
  • Winnetka
  • Northfield
  • Lake Bluff

Plans must be sent to the agency by June 2020. About the plan:

“By law, the plan should identify properties most appropriate for creating affordable housing through new construction or rehabilitation. The plan also should identify incentives the municipality plans to use to attract affordable housing; the number of affordable units needed to reach the 10 percent target and how the town will reach 10 percent.”

2019-01-04T08:50:20+00:00January 4th, 2019|News|0 Comments

About the Author:

Jon Broadbooks is vice president for communications at Illinois REALTORS®.

Share your feedback