Lake County, IL
File #: 22-0118    Version: 1 Name: Presentation and discussion regarding possible implementation of the State’s Affordable Housing Incentive Program as outlined in Public Act 102-0175.
Type: presentation Status: In Committee
File created: 1/19/2022 In control: Financial & Administrative Committee
On agenda: Final action: 1/27/2022
Title: Presentation and discussion regarding possible implementation of the State's Affordable Housing Incentive Program as outlined in Public Act 102-0175.
Attachments: 1. 1_22_22 HB2621
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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Title

Presentation and discussion regarding possible implementation of the State’s Affordable Housing Incentive Program as outlined in Public Act 102-0175.

 

Staff Summary

•                     On July 29, 2021 the Governor of the State of Illinois signed into law Public Act 102-0175, an amendment to the Property Tax Code, which implements a special assessment program that incentivizes affordable housing.

•                     The special assessment program will become effective in each of the State’s counties unless opted out by County Board action.

•                     Staff will seek the Committee's direction whether to implement or opt out of the program.