Evanston aldermen tonight will discuss a revised version of a major update to the city’s nearly decade-old inclusionary housing ordinance.
The newest version maintains three key provisions in the original draft of the revision:
- Expanding the ordinance from just covering condo developments to also include rental housing.
- Covering developments with as few as 10 units, rather than the current trigger of 25 units or more.
- Increasing the fee-in-lieu requirement to avoid providing affordable units on site from $40,000 to $100,000 per unit.
But the new version also:
- Covers developments of as few as five units within transit-oriented development zones near Metra or CTA stations.
- Fine-tunes the income thresholds for affordable units — making them lower within transit-oriented development zones.
- Provides larger development bonuses in transit-oriented development areas.
- Offers larger reductions in required parking on site for transit-oriented developments.
- Reduces the fee-in-lieu requirement to $75,000 outside transit-oriented development areas.
Adoption of the original inclusionary housing ordinance in 2006 coincided with the beginning of the real estate market collapse and no developments covered by the original ordinance have been built in the decade since.
The recent revival of the market for rental housing construction has encouraged affordable housing advocates to push for the ordinance revisions to be discussed tonight.
Ideas floated for broad housing tax (6/30/15)