Illinois Housing Development
Since 2015, there has been an escalation of legislative initiatives introduced in Illinois regarding the preservation, rehabilitation, and development of affordable housing. From amending foreclosure and "rent freeze" laws, to the creation of abandoned and blighted property laws, the proposals have ranged in scope but with a similar purpose.
For 2019 legislative examples, see House Bill 28 amending the Abandoned Housing Rehabilitation Act, House Bill 189 creating the Blight Mitigation Act, House Bill 832 creating the Vacancy Fraud Act, House Bill 3052 creating the Abandoned Residential Property Act, and Senate Bill 138 amending the Mortgage Foreclosure Act.
"Rent Freeze" Initiatives
Affordable Housing Development Incentives
Based on a New York law, a bill from John Cullerton would entitle apartment developers to a 10-year property tax break if at least 20 percent of units on-site rent for lower rates.
Chicago, in particular, is a catalyst for affordable housing discussions in Illinois and does provide plenty of situations to review...
However, affordable housing issues run from Chicago through the southern most portions of the state...