Expanding Quality Rental Housing in Northeastern Illinois
The shortage of quality, mixed-income rental housing located near jobs and transit and scarcity of housing affordable to households earning less than 50 percent of area median income (AMI) in northeastern Illinois has been well documented by the U.S. Census, reports, and Illinois' 2011 Comprehensive Housing Plan. In an innovative effort to support mixed-income housing that meets the Housing Endorsement Criteria adopted by the Metropolitan Mayors Caucus in 2002, MPC and partners formed the Regional Housing Initiative (RHI), to provide financial incentives (via operating subsidies) to developers and owners of quality rental housing. To date, RHI partners have awarded operating subsidies to more than 300 apartments in 18 viable developments. As a result, 908 new or rehabbed housing options, largely in mixed-income communities, are already up and running while another 1,563 are in the final stages of financing or rehab. RHI includes seven regional housing authorities (Chicago, Cook, Joliet, Lake, McHenry, Oak Park and Waukegan), the Illinois Housing Development Authority (IHDA), and MPC.
Articles
Housing affordability still a challenge-
- The weak housing market – and the massive “shadow” inventory of homes weighing heavily upon it – has given some the idea that homes have become more affordable. But has affording the roof over their head really become easier for most people? I recently attended a panel…
MPC in Springfield: 2010 legislative update-
- MPC has some unfinished legislative business in Springfield, which we’ll continue to work on this summer in anticipation of the fall veto session and next spring’s new General Assembly. But there was tangible progress, despite the state’s fiscal free-fall. Here’s a snapshot…
'Affordable living' still elusive for many-
- Two reports released in late March by MPC's partners show there's still more work to do before affordable living is truly within reach for most American families.
The Center for Housing Policy's annual Paycheck to Paycheck study estimated the median home price in Chicago fell from $225,000 in 2008…
- Reinventing investment for a more livable Chicago region
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The second event of the MPC-CAF summer discussion series, "Reinventing Public Investment", focused on how federal policies in housing, transportation and economic development have shaped decisions and community development in the Chicago Region.
- Goal-Driven, Right-Sized and Coordinated: Federal Investment Reform for the 21st Century
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- In the midst of an unprecedented economic downturn, community, civic, government, nonprofit and foundation leaders across metropolitan Chicago are planting encouraging seeds of innovation. MPC has released a white paper documenting some of those innovative local efforts, and is seeking more examples to further build the case for federal investment reform.
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Multimedia
2012 Plan for Prosperity: Innovative Solutions for the New Normal-
- Publication
- (1 MB)
- Jan 12, 2012
- To read MPC's 2012 Plan for Prosperity, download the file. The following is MPC President MarySue Barrett's introductory letter.
Sometimes, things aren’t what they seem. For decades, the United States enjoyed what appeared to be boundless economic expansion. Consumers spent and borrowed…
2010 Census: African-Americans leaving city for suburbs-
- Daunting is the fact that 200,000 Chicago residents left the city since the 2000 Census. Even more concerning is that nearly 89 percent of them were African-American. This loss in the city was accompanied by strong African-American growth in the suburbs, particularly in the far south and…
Beyond the Neighborhood Stabilization Program: How Foreclosure Recovery Can Foster Sustainable Communities-
- Listen to this recording of MPC's Feb. 15, 2011, roundtable, “Beyond the Neighborhood Stabilization Program: How Foreclosure Recovery Can Foster Sustainable Communities." The roundtable featured a panel discussion between Antonio Riley, the newly appointed midwest regional administrator for…
- Maintaining Rental Housing as a Community Asset Multifamily Rental Property Resource Guide
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- Publication
- (265 KB)
- Nov 30, 2010
- The Multifamily Resource Guide – produced by municipal leaders, Preservation Compact, Chicagoland Apartment Association, and partners including MPC offers a list of public and private sector resources including: energy assistance, financing, preservation, tenant relations, and more to assist…
- Back to the Drawing Board? Revisiting local housing strategies during the market meltdown
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- Following the dramatic downturn in the housing market, local advocates and policymakers gathered to re-assess the primary housing policy initiatives they relied upon for many years. Suburban workforce housing, the Chicago Housing Authority Plan for Transformation, and employer-assisted housing were…
More related multimedia »
Links
- Metropolitan Mayors Caucus Housing Action Agenda
- The Metropolitan Mayors Caucus is a caucus of metropolitan Chicago’s 272 mayors working together to address shared economic development and affordable housing issues and more. Through the Housing Action Agenda, the Mayors Caucus is working to create safe, decent and affordable housing opportunities for all people in every community in the region. More info »
- Illinois Housing Development Authority
- Illinois Housing Development Authority (IHDA) is an integral part of the REACH partnership. As the state’s primary housing finance agency, IHDA implemented public incentives for the REACH program. Employers running an EAH program are eligible to receive a state tax credit and employees taking advantage of an EAH program might qualify for a state matching fund. Thanks to IHDA’s leadership on the issue, other states have contemplated initiating similar incentives. More info »
More related links »
Collaborators
Partners
Chicago Housing Authority
Joliet Housing Authority
Housing Authority of Cook County
Illinois Housing Development Authority
Lake County Housing Authority
McHenry County Housing Authority
Oak Park Housing Authority
U.S. Dept. of Housing and Urban Development
Waukegan Housing Authority
Funders
Bowman C. Lingle Trust
The F.B. Heron Foundation
JPMorgan Chase
The Northern Trust Company
