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HRA explores voluntary workforce housing service fee and state tax‑credit fundraising with Chamber and local businesses
Summary
Board members reported outreach with Cook County Chamber, Cascade Vacation Rentals, and other businesses to establish a voluntary service fee to fund housing and discussed a state housing tax‑credit program that could incentivize donations; no formal HRA action was taken at the meeting.
Board members reported outreach to the Cook County Chamber of Commerce and local businesses about two voluntary fundraising tools: a workforce housing service fee collected by businesses and a state housing tax‑credit program for donors.
A board member said Cascade Vacation Rentals already collects a voluntary, itemized fee from customers and passes proceeds to the HRA; that program generates nearly $40,000 annually in the example cited. Staff and board members proposed recruiting additional businesses—hotels, vacation rentals and lodging providers—to adopt a similar transparent fee, which would be voluntary for businesses to implement and disclosed to customers.
Separately, staff described a state housing tax‑credit program (as discussed with the chamber executive director) that would allow donors to receive an 85% state tax credit on donations directed to prequalified affordable‑housing projects; staff said project sponsors must be prequalified and that the program requires paperwork by the recipient project. Staff said they are researching requirements and will present more detail once program rules are confirmed.
Commissioners encouraged continuing the outreach with the chamber and named stakeholders. No formal vote or new HRA policy was adopted during the Jan. 15 meeting; staff will continue pursuing business recruitment and gather further details from the state tax‑credit program.
