Rent Control Fails to Advance - June 2021
Rent Control Fails; SHAPE Illinois Alternative Efforts to Address Housing Affordability Pass Both Chambers
With the spring legislative session adjourned, we are pleased to report no rent control proposals reemerged during the final week, while several of our alternative solutions to address affordable housing advanced and will go to the governor for his signature including:
- A COVID-19 Affordable Housing Grant Program
- An extension of the Illinois Affordable Housing Tax Credit
- A property tax assessment incentive
- Creation of affordable rental housing in communities with low affordability
- An income-based Property Tax Assessment Policy
- Increased bonding authority for the Illinois Housing Development Authority
- Improvement and expansion of the Rental Housing Support Program
While we’re pleased to report the success of SHAPE Illinois again this session, it is clear the overall effort is far from over. Pro-rent control lawmakers continue to indicate their support for the policy as a tool to address affordable housing and gentrification issues in Chicago neighborhoods.
SHAPE Illinois advocacy efforts will continue to highlight the destructive consequences of rent control and the benefits of developing and maintaining long-term affordable housing solutions. Thank you for your commitment and engagement to this important policy issue this session. We look forward to continuing our work with lawmakers to build on our efforts and further support development in neighborhoods across Illinois.