New National Housing Conference publication features MPC's employer-assisted housing program as a national success - Metropolitan Planning Council

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New National Housing Conference publication features MPC's employer-assisted housing program as a national success

"Private Sector Partnerships: Investing in Housing and Neighborhood Revitalization" explores both the need for and momentum of public-private partnerships in addressing the nation's housing and community development goals.

MPC, the State of Illinois, and the Regional Employer-Assisted Collaboration for Housing (REACH) are featured in Private Sector Partnerships: Investing in Housing and Neighborhood Revitalization , a new publication of the National Housing Conference(NHC). In its press release , NHC describes the increasing popularity and success of employer-assisted housing , comparing its potential as an employee benefit to healthcare.

This is a critical development given NHC's recent analysis of nationwide homeownership trends. This report points out that despite overall improvements since 1978 (homeownership increased nationwide from 65.2 percent to 68 percent),working families(defined as employed households with children earning less than 120 percent of Area Median Income) have actually experienced a decrease in homeownership rates-- from 62.5 percent to 56.6 percent.

Together, these reports underscore the value of current efforts to expand incentives available to Illinois employers interested in investing in housing solutions for the local workforce, namely the matching funds available via a pilot program in northeastern Illinois and the tax credits scheduled to sunset in 2006.

On Friday, June 18th,  the board of the Illinois Housing Development Authority voted to expand the matching fund program statewide.  Stay tuned for news on extending the tax credit program.

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