Lake County launches Preservation Initiative
Round Lake Beach, IL
In the face of an aging housing stock and a host of cultural and practical barriers, the Lake County Affordable Housing Commission (AHC) has turned its eye toward the daunting task of creating a realistic and sustainable plan to improve, maintain and expand Lake County’s existing affordable housing stock.
Like most areas, Lake County has a number of older, deteriorating homes that owners do not have the resources to improve, as well as a growing number of foreclosures and vacancies. More unique is the plethora of older summer homes originally built for vacationing, but that are not efficient or suitable for their current purpose of year-round living.
“Perhaps the biggest challenge of all is that 80 percent of Lake County’s housing stock is single family homes,” notes Lisa Tapper, executive director of the AHC. “In contrast, the vast majority of the public and private funds available for affordable housing preservation are more suitable for larger multi-family projects, leaving areas such as ours with few options. Creating and sustaining a mechanism to preserve scattered-site single family homes is critical.” Also important is ensuring that the all-too-limited subsidized multi-family units stay affordable. “These units tend to be rentals,” says Tapper. “They are a precious resource our residents cannot afford to lose.”
To help develop solutions for these issues, AHC created the Lake County Preservation Initiative (LCPI). The ultimate purpose of the LCPI is to create a countywide system that mobilizes a broad spectrum of stakeholders to identify properties in danger of being lost from the affordable housing stock and to take steps to ensure they remain affordable and in good condition. The LCPI was crafted to engage stakeholders in a meaningful way that will lead to ongoing partnerships, develop a comprehensive response to preservation needs with clear action steps, and to build awareness and support for affordable housing and preservation. The Steering Committee is comprised of more than 30 local and regional leaders that touch on every facet of the complex affordable housing industry: financing, development, government, community, and property management. It is co-chaired by AHC and their regional partner, Business and Professional People for the Public Interest. Many of the region’s most knowledgeable and effective affordable housing leaders are now seated around the table.
The Steering Committee has identified several barriers to affordable housing preservation. These include financing, regulatory barriers, political will, promoting awareness among consumers and industry professionals, locating affordable units near job and transit centers, and lowering operating costs (i.e., property taxes and utilities). Any program models and projects that are ultimately created for either single- or multi-family units will incorporate each of these items into their action plan to the largest extent possible. Over the next few months, the Steering Committee will be focusing on the specifics of action planning for these models or projects.
“We have some significant challenges ahead of us,” notes Tapper. “For example, will it be possible to create a funding source for single-family home preservation? Will we be able to create the capacity for organizations to preserve and manage these units?” These are the kinds of tough issues that the Steering Committee is tackling. Action planning will consider the challenges and opportunities of the moment, and, at this point, the LCPI envisions its earliest preservation efforts will focus on areas hardest hit by foreclosures and vacancies. Since about 50 percent of Lake County’s foreclosures are clustered within 5 zip codes, the LCPI can be a valuable partner to struggling municipalities.
Preservation of affordable housing is a daunting task, but it is one that municipalities cannot ignore. LCPI is pioneering the way and hopes to serve as a model for other areas.