Land Use & Zoning
Illinois's 'Affordable Housing Planning and Appeal Act' requires municipalities with less than 10% affordable housing to:
AAutomatically rezone all new residential developments for affordable housing
BPrepare an affordable housing plan and gives affordable housing developers a right to appeal local zoning denials✓ Correct
CAccept all federal Section 8 housing applications
DConvert commercial properties to affordable housing
Explanation
The Illinois Affordable Housing Planning and Appeal Act requires municipalities with an affordable housing stock below 10% of all housing units to develop affordable housing plans. It also provides a streamlined appeal process for affordable housing developers whose projects are denied by municipalities that fall below the 10% threshold.
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Key Terms to Know
Zoning
Local government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
Net Operating Income (NOI)The annual income generated by an income-producing property after subtracting operating expenses, but before debt service.
Right of First RefusalA contractual right giving a party the opportunity to match any offer received before the owner can accept it from a third party.
VarianceOfficial permission to use land in a way that does not conform to the applicable zoning ordinance, granted by a zoning board when strict enforcement would cause undue hardship.
Math Concepts
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