New property tax incentive could remake Fulton Market and other neighborhoods into havens for affordable housing – Chicago Tribune/MSN

Downtown and surrounding neighborhoods like Fulton Market are designated low-affordability communities, allowing developers of new properties to get the steep assessment cuts, that taper off over 30 years, if they keep 20% of the units affordable for families making no more than 60% of area median income. About 17,000 units across greater downtown are in the planning stages.
1 Comment
Newest
Oldest Most Voted
Inline Feedbacks
View all comments
Giddyap
3 years ago

This is the way to do affordable housing.

Tax incentives that harness the power of the market.

Not top-down, ill-conceived mandates that distort the market and discourage development.

SIGN UP HERE FOR FREE WIREPOINTS DAILY NEWSLETTER

Home Page Signup
First
Last
Check what you would like to receive:

FOLLOW US

 

WIREPOINTS ORIGINAL STORIES

WE’RE A NONPROFIT AND YOUR CONTRIBUTIONS ARE DEDUCTIBLE.

SEARCH ALL HISTORY

CONTACT / TERMS OF USE