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.
"Rent Freeze" Initiatives
Affordable Housing Development Thresholds & Incentives
Similar incentive efforts have been proposed in recent years with varying degrees of acceptance...
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...
Another side of affordable housing is the termination of leases and demolition or redevelopment of buildings otherwise considered affordable, which is also where government officials may focus...
