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Skokie board advances housing fund and enables housing land trust; second reading set for Nov. 3
Summary
The Village Board voted to advance ordinance changes to create a Skokie Housing Land Trust and establish a housing fund that staff say would be seeded in part by developer fees-in-lieu. The measure passed on first reading and will return Nov. 3 for final action.
The Village of Skokie on Oct. 21 approved on first reading updates to village code to enable a Skokie Housing Land Trust and create a housing fund intended to support affordable housing activities, staff said.
The policy, presented by Justin Malone, neighborhood and housing coordinator in the Community Development Department, would allow the village to use fee-in-lieu revenue from developers and other sources to seed a fund for purchasing and rehabilitating property and to partner with a nonprofit to operate a community land-trust model. Under the proposal staff described, the village would retain ownership of underlying land…
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