To help residents of Lake County in need of affordable housing, State Senator Terry Link (D-Waukegan) introduced Senate Bill 1244.

The legislation would add a $3 surcharge to any real-estate related document to fund the Lake County Affordable Housing Trust Fund.

“For young people just getting their feet wet and for older people who no longer have a fixed income, it can be difficult to find affordable housing,” Link said. “My hope is that this surcharge will help the hardest-hit residents of Lake County find an affordable place to live.”

Potential projects to be funded with the surcharge include: housing production, including new construction, redevelopment and rehabilitation; down-payment assistance to homebuyers; rehab assistance to homeowners; preservation of existing affordable assistance; and more. 

All funds generated from the surcharge would stay in the county. According to the Lake County Affordable Housing Trust Fund, one in five renters is severely cost-burdened.

SB1244 was assigned to the Local Government Committee and awaits further action.

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