1. UPA 495 Capstone
Undergraduate Class of 2016
University of Illinois at Chicago
May 5th, 2016
Affordable Housing After
The 606 in Logan Square
and Humboldt Park

2. Why Are We Here?

3. Overview
606 Trail (Bloomingdale Line)
west of Western Avenue
1. Reaction from community
2. Hard data collection
3. Policy proposals

4. Research

7. Community Concerns
What issues would you like to see addressed in your neighborhood?
• Rent increases
• Safety
• New condominium development

8. Who owns the land?

9. Field Research

15. Policy Recommendations
Community Education
Demolition Fee
Fee Waiver
Land Banking
Community Land Trust

16. Community Education
Stigma attached to affordable
housing
Misconceived notions about it
We must present our initiatives in a
way that also educates everyone

17. Community Education
Proper education is the best
method to defeat potential
opposition
General studies detailing the
benefits of diverse-use
housing
Specific studies on California’s
Low-Income Housing Tax
credit

18. Demolition Fee
Developer Charged before a Demo-Permit is Issued
Applies only if demo isn’t replaced with affordable home
Revenue collected for Special Housing Fund
Single Family Home Multi-Unit Residential
Increasing costs to remain in home
Loss in affordable homes
Kicking-out community families

19. Fee Waivers for
Affordable Housing
S.M.A.R.T Housing
Incentive for developers to build units that
remain affordable--contractual obligation.
Includes fast-track project approval.

20. Land Banking
• Acquire and hold Vacant and Underutilized properties
• Future goal is to turn them into Community Assets
• Government organizations hold and maintain the land for 3-5 years

21. Areas of Interest

22. Land Banking - Model 1
The Genesee County Land Bank (2002)
Created by Michigan State
Partnership agreement between Genesee County and the City of Flint, Michigan.

23. Genesee County Land Bank

24. Land Banking - Model II
• Earliest Land Banks
• Land Reutilzation Program
• Diminished taxes on foreclosed lots
• Collaborated with local community development
corporations (CDCs)

26. Community Land Trust
● The concept is to preserve public
investment and recycle and protect
the affordability of housing.
● CLT’s acquire land through
donation or purchase

27. CLT Structure
● Nonprofit, 501(c)(3) community-based organizations
● Structured as subsidiaries of established nonprofit community
organizations
● Missions and plans are focused on long-term sustainability

28. Purpose

29. CLT Board Members and Governance (Tri-partite)

30. Community Land Trusts in U.S, 2008

31. Number of CLTs in the U.S

32. Champlain Housing Trust
• Largest and Longest Running Community Land Trust
• Average household served on an initial sale of a house or condominium
earned 69.4%of area median income
• Average household served on the resale of these same homes earned
68.6% of area median income

33. Homeownership Portfolio
● 435 Resale restricted owner occupied homes
● 60%Condominiums
● 40%single family homes
● NO LAND ORHOMES HAVE EVER BEEN LOST TO FORECLOSURE

35. Example of Resale Formula
Original appraised value (land & improvements) $200,000
Minus affordability subsidy ($50,000)
Original CLT purchase price $150,000
CLT homeowner’s share of appreciation 25%
Appraised value (land & improvements) at resale $300,000
Increase in value during ownership ($300,000 - $200,000) $100,000
Seller’s share of appreciation ($100,000 x 25%) $25,000
Resale price to next CLT homebuyer ($150,000 + $25,000) $175,000

36. Questions
UPA 495 Capstone
Undergraduate Class of 2016
University of Illinois at Chicago
May 5th, 2016
Presenters: Abby Dompke,Seth McClerklin, Ozie Cardenas,Annette Barbato

37. Land Survey Data Method
- Step 1: Determine the address and PIN of the property
(http://cookviewer1.cookcountyil.gov/jsviewer/mapviewer.html)
- Step 2: Determine property classification,2015 assessed value, and square
footage of property (http://www.cookcountyassessor.com/)
- Step 3: Determine current and previous owner of the property
(http://cookrecorder.com/search-our-records)