Advisory Center for Affordable Settlements & Housing

acash

Advisory Center for Affordable Settlements and Housing
ACASH

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Document TypeGeneral
Publish Date03/11/2019
Author
Published By(Illinois Housing Council recommendation)
Edited BySuneela Farooqi
Uncategorized

Solving the Affordable Housing Crisis

The state tax credit would encourage additional private investment in multifamily rental housing. SB 2092 (Sen. Aquino) allocates resources to the Rental Housing Support Program by doubling the surcharge on each county’s recordation fees. This will help increase the capacity of the Chicago Low-Income Housing Trust Fund and other rental subsidy programs around the state. Denver’s two-year pilot program (modeled after Section 8) matches units with working families and individuals quickly and efficiently, funding the gap between reasonable market rent and the residents’ payment portion via public-private partnerships.

Lift local zoning restrictions to allow for the repurposing of tens of thousands of unused garden spaces into new affordable housing units (especially for people with mobility issues). Allow for more affordable, safe materials to be used to construct affordable housing Illinois Affordable Housing Trust Fund (IAHTF) dollars should be used for their intended purposes, to create and preserve actual units of affordable housing. Social services should be funded through General Revenue Funds rather than the IAHTF. Other existing state resources for affordable housing (Rental Housing Support Program and the Illinois Affordable Housing Tax Credit) should be protected and preserved as well.

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