Beyond Bending Tell You How
Chicago is one of the largest cities in the United States, with a population of over 2.7 million people. With such a large population, housing can be a major concern for many residents. The Chicago Housing Trust was created to help address this issue by providing affordable housing options for low-income families and individuals in the city.
The Chicago Housing Trust was established in 2008 as part of the city’s Affordable Requirements Ordinance (ARO). The ARO requires developers who receive financial assistance from the city to set aside a percentage of their units as affordable housing. The Chicago Housing Trust was created to oversee the distribution of funds collected from developers who choose to pay an in-lieu fee instead of building affordable units.
How Does the Chicago Housing Trust Work?
The Chicago Housing Trust works by providing financial assistance to developers who are building affordable housing units in the city. The funds collected from developers who choose to pay an in-lieu fee are used to provide grants and loans to developers who are building affordable units.
The Chicago Housing Trust also partners with nonprofit organizations to provide affordable housing options for low-income families and individuals. These partnerships help to increase the number of affordable housing units available in the city and provide additional support services for residents.
One of the key goals of the Chicago Housing Trust is to ensure that affordable housing units are located in areas with good access to public transportation and other amenities. This helps to promote economic development in these areas and provides low-income residents with greater opportunities for success.
Who Qualifies for Affordable Housing through the Chicago Housing Trust?
To qualify for affordable housing through the Chicago Housing Trust, residents must meet certain income requirements. These requirements are based on the area median income (AMI) and vary depending on the size of the household.
For example, in 2021, the maximum income for a family of four to qualify for affordable housing was $79,500. Families earning less than this amount may be eligible for affordable housing through the Chicago Housing Trust.
Residents also need to meet other eligibility criteria, such as passing a background check and having a good rental history. These requirements help to ensure that the Chicago Housing Trust is providing affordable housing to those who need it most.
What Types of Affordable Housing Units are Available through the Chicago Housing Trust?
The Chicago Housing Trust provides a variety of affordable housing units for low-income families and individuals. These units include:
| Unit Type | Description |
|---|---|
| Studio Apartments | Small apartments with a single room that serves as a bedroom, living room, and kitchen. |
| One-Bedroom Apartments | Units with one bedroom, a living room, and a kitchen. |
| Two-Bedroom Apartments | Units with two bedrooms, a living room, and a kitchen. |
| Three-Bedroom Apartments | Units with three bedrooms, a living room, and a kitchen. |
| Townhomes | Multi-level units with two or more bedrooms, a living room, and a kitchen. |
| Single-Family Homes | Stand-alone houses with multiple bedrooms, a living room, and a kitchen. |
By providing a range of unit types, the Chicago Housing Trust is able to meet the diverse needs of low-income families and individuals in the city.
How Can Residents Apply for Affordable Housing through the Chicago Housing Trust?
Residents can apply for affordable housing through the Chicago Housing Trust by visiting the Department of Housing and Economic Development website. The website provides information on available units and eligibility requirements.
Residents can also apply for affordable housing through the Chicago Housing Authority, which manages public housing units in the city.
What are the Benefits of Affordable Housing?
Affordable housing provides many benefits for low-income families and individuals. These benefits include:
- Increased stability and security
- Improved health and well-being
- Access to better job opportunities
- Reduced transportation costs
- Improved academic achievement for children
By providing affordable housing options, the Chicago Housing Trust is helping to create a more equitable and thriving city.
How Can You Support the Chicago Housing Trust?
There are many ways to support the Chicago Housing Trust and its mission to provide affordable housing for low-income families and individuals in the city. Some ways to get involved include:
- Donating to the Chicago Housing Trust
- Becoming a partner or sponsor
- Volunteering with a nonprofit organization that supports affordable housing
- Advocating for affordable housing policies at the local and state levels
By working together, we can help to ensure that all residents of Chicago have access to safe, affordable housing.
Conclusion
The Chicago Housing Trust is an important organization that is working to provide affordable housing options for low-income families and individuals in the city. By partnering with developers and nonprofit organizations, the Chicago Housing Trust is able to increase the number of affordable housing units available and provide additional support services for residents.
By supporting the Chicago Housing Trust and advocating for affordable housing policies, we can help to create a more equitable and thriving city for all residents.
