Lake Forest Approves Plan for Scattered Site Affordable Housing

has already received several inquiries regarding its recently approved scattered site affordable housing plan, according to President Michael Burns.

“There definitely is a need in the community,” he said.

The city has partnered with Community Partners for Affordable Housing, a regional not-for-profit agency that has worked with other neighboring municipalities, including Highland Park, on similar scatter-site affordable housing projects. The pilot program will allow the Housing Trust to acquire vacant, or blighted homes in the city, and renovate them for long term owner occupied affordable housing units.

Since the city council approved the partnership last week, the Housing Trust has begun looking to acquire two properties to initiate the program.

“We’re working closely with the city to identify properties that have not been maintained,” Burns explained.

Once the homes are restored, they will be sold to one of the priority groups that has been established by the city council: Lake Forest seniors, non-senior residents, and employees of Lake Forest employers.

In order to qualify to purchase one of the new affordable homes, the buyer would need to have an annual income not exceeding $60,000 for a family of four.

However, once a person has purchased the home, they will not have to re-qualify to remain in the home if the family’s income increases.

“They have to qualify at the time of purchase,” said Rob Anthony, executive director of Community Partners for Affordable Housing. “They will not be kicked out of the home if their income goes up after that.”

Anthony explained the typical process has been that if a party’s income increases after they purchase the home, that they will want to sell the home, and buy a larger one, or one where they will receive more equity.

Once a property is identified, and acquired through the new scattered site program, representatives from Community Partners for Affordable Housing will introduce themselves to the surrounding neighbors, to explain the program, and dispel any misinformation they may have heard.

“Usually there are no concerns,” Anthony said.

If an owner decides to sell their home, a formula would be applied to the appreciation price to keep the resale price from becoming too high, to keep the home affordable.

In the event of a death of an owner, homes that are part of the new program may be left to a family member under two conditions: the person who inherits the home must meet the income qualifications, and they must be living in the home at the time of the owner’s death.

“Every time there’s a transfer, someone needs to qualify to purchase the home,” said Anthony.

Although the program is only in its beginning stages, city leaders are hopeful that this program is a step in the right direction.

“I think it’s tremendous for the city,” said Burns. “It’s a small step, but a good step.”