Evanston aldermen Monday are expected to discuss a proposed inclusionary housing ordinance that would require an affordable housing component in all large new residential planned developments.
Evanston aldermen Monday are expected to discuss a proposed inclusionary housing ordinance that would require an affordable housing component in all large new residential planned developments.
The proposal has been awaiting debate for months but until now has been postponed as aldermen dealt with individual projects in the development pipeline.
The ordinance, scheduled for discussion at the council’s 6:30 p.m. Planning and Development Committee meeting, is adapted from a proposal developed by the city’s Housing Commission two-and-a-half years ago.
The latest version would include rental as well as owner-occupied planned development projects with 25 or more units.
It calls for making at least 10 percent of the units in a development affordable, or requiring instead a contribution by the developer to the city’s affordable housing fund of $63,000 for every 10 units in the project.
For owner-occupied units, one-fourth of the affordable units would be set aside for households making less than 75 percent of the median income in the Chicago area, with the rest available to households at the median income or below.
For rental units, one-fourth would be set aside for households making less than 60 percent of the median income, with the rest available to households making less than 80 percent of the median income.
Preference in selecting residents for the affordable units would be given to current Evanston residents and persons with jobs in Evanston.
The properties would be required to remain affordable for 15 years, with provisions to recapture part of any gain at resale during that period.