City eyes affordable housing.(News)

0 Comments | Daily Herald (Arlington Heights, IL), June, 2005 | by Malik, Nadia

Byline: Nadia Malik Daily Herald Staff Writer Rolling Meadows may be providing state-funded affordable housing in its upcoming developments - this time for young, low-income workers. The city already has a requirement of 30 affordable units for seniors in the Riverwalk Condominiums units, which are being built by Wellington Partners on Kirchoff Road and Owl Drive.

The city also is compliant with a state mandate that requires all municipalities to have at least 10 percent affordable housing. Rolling Meadows still would have to pay $6,500 for the application process, a matter that they will vote on at the council meeting next Tuesday. The money likely will come from the tax increment financing fund set up for the Riverwalk project. Representatives from...