St. Charles to change affordable housing policy
ST. CHARLES – The St. Charles City Council is expected to soon change the way the city will ensure its affordable housing stock is above the state’s 10 percent minimum requirement.
Aldermen in committee this week unanimously recommended approval of a measure that would create a sliding scale adjusting the number of required affordable housing units in new residential developments based on the percentage of the city’s affordable housing stock.
Under the sliding scale, developers would be required to build more affordable units when the city’s existing stock is low and would be required to build fewer units when the stock is high.
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