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Rolling Meadows City Council November 15, 2005

Rolling Meadows City Council November 15, 2005. Identify appropriate city role Evaluate current development and relocation proposals Explore third party developer option/ optimal partnership agreement Outline key components of a relocation plan

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Rolling Meadows City Council November 15, 2005

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  1. Rolling Meadows City Council November 15, 2005

  2. Identify appropriate city role Evaluate current development and relocation proposals Explore third party developer option/ optimal partnership agreement Outline key components of a relocation plan Ensure principals of Housing Endorsement Criteria in development plans Task Force Charge:

  3. Woodfield Garden Renters $23,218 to $40,483 to buy $71,977 to $125,499 Market >180,000 $40,483 to $59,535 to buy $125,499 to 179,021 $11,300 to 23,218 to buy $35,066 to $71,977

  4. Recent Sales and income data indicates that area homes are appreciating by 9.2 percent annually while area incomes are rising more slowly - - on average by just 5.6 percent per year

  5. Metropolitan Mayors Caucus Housing Task Force Housing Endorsement Criteria, Housing Action Agenda and Model Housing Plan State Executive Order & Comprehensive Housing Plan Employer-Assisted Housing Catalysts for Change/Opportunities for Support:

  6. Chair Mindy Turbov, Turbov Associates Expertise: community development/strategic planning/housing program development Consultant Charles Buki, czb LLC Neighborhood planning and revitalization Attorneys Peter Friedman, Holland & Knight Expertise: municipal government/real estate Ben Applegate, Applegate and Thorne-Thomsen, PC & IL Housing Council Expertise: affordable housing development/finance MPC Rolling Meadows Task Force

  7. Developers David Hoffman, Red Seal Development Corp. Expertise: suburban multi-family Richard Koenig, Housing Opportunity Development Corp. Expertise: affordable for-sale & rental Steve Porras, LR Development Co. Expertise: affordable & mixed-income housing development/finance MPC Rolling Meadows Task ForceContinued

  8. Juanita Irizarry, Latinos United Expertise: multi-cultural community development, services Robert Kornecki, Burson-Marsteller Chicago Expertise: communications David Walker, AICP, RTKL Associates Expertise: planning/architecture Robin Snyderman, Metropolitan Planning Council Expertise: housing policy MPC Rolling Meadows Task ForceContinued

  9. On one hand, this proposal looks to the future, appropriately anticipating both residential and commercial growth. On the other hand, the existing site represents about 30 percent of the city’s affordable housing, and 8 percent of its entire housing stock. The Task Force is confident that the City can tap its historic roots and balance the above variables.

  10. Goals 20 percent affordable homes on-site 20% of 1600 = 320 (both rental & for-sale, both families and seniors; not age restricted) Affordable for-sale homes dispersed throughout the property Affordable rentals in low-rise mixed-income buildings Jump-start 20 percent citywide commitment Seed new housing development throughout the city that will help replace lost homes Maintaining Rolling Meadows’Affordability

  11. 20% affordability requirement of a PUD Inclusionary Housing Ordinance Can apply to new development, new rehab and/or condo conversions Affordable Housing Trust Fund and/or Community Land Trust Can also preserve single family homes at risk of tear downs, multifamily dwellings at risk of losing affordability, and/or acquire land as necessary to facilitate eventual development of affordable housing appropriate for neighborhood context Development partnership w/ an experienced affordable housing developer can leverage a myriad of resources, incentives. Financial/Legal/Policy Tools

  12. Impact Limited number of nearby comparable rental opportunities Moving families away from good school district Displacing workers - moving tenants away from employment base increased traffic congestion Tools Embrace merits of Seller’s current proposal Bring in non-profit partner to assist with relocation and counseling Multilingual services City can/should require compliance with Federal Uniform Relocation Act guidelines Assist as many families in moving back to the City and the development as possible Relocation assistance benefit to move within Rolling Meadows Employer-Assisted Housing and other homebuyer assistance Tenant Support

  13. Reconsider the “spine, ” given decrease in commercial square footage Increase residential and commercial integration Enhance walkability Create height variations Incorporate underground parking and ample green space General Site Design

  14. Housing Endorsement Criteria Affordable to the local workforce, and a range of others Near jobs and transportation Well-managed and well-designed “Sensible Tools for Healthy Communities”

  15. www.metroplanning.org

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