Submitted By
Tammie Grossman, Development Customer Services Director
Reviewed By
A.M. Zayyad
Agenda Item Title
Title
Affordable Housing Overview
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Overview
Overview
This presentation is a staff update on current Housing Data Highlights regarding race, ethnicity, cost burden, and required affordable housing unit percentages. The presentation also includes the introduction of a draft Housing Trust Fund ordinance as well as an overview of the current Inclusionary Housing Ordinance.
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Anticipated Future Actions/Commitments
Recommendation
Return with a final Housing Trust Fund Ordinance for adoption.
Body
Report
The PowerPoint presentation is attached as well as pertinent supporting documentation. This report is intended to inform the Village Board on the current status of affordable housing in Oak Park and the region as well as the inclusion of new census data relative to Oak Park. Staff is recommending the adoption of a Housing Trust Fund Ordinance which will provide a process for allocating current and future affordable housing funds.
Background:
In recognition of the continual need for affordable housing options, the Village of Oak Park has embraced the following three affordable housing documents:
Village Board Goal: The Village will review current policies and ordinances to identify changes that make Oak Park affordable. Re-visit the inclusionary zoning ordinance and identify if a trust or fund specifically for affordable housing dollars, adopted June 14, 2021.
Comprehensive Plan Goal: Provide mixed-income housing that is accessible, integrated, and responsive to the needs of Oak Park's diverse population, adopted on September 14, 2014. Chapter 7: Neighborhoods, Housing & Diversity incorporates a vision for the Village which includes integration, accessible and affordable housing, and diversity with an awareness of mobility and needed services. The Plan sets forth metrics to help measure housing success within our community through ...
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