The Evanston City Council will vote today on a series of planning decisions, including a grant for affordable condominium units, a plan for Evanston’s lakefront, a possible extension of the moratorium on downtown development and amendments to the West Evanston tax-increment financing district.
The Economic Development Committee requested a $300,000 federal grant to rehabilitate three affordable units in a five-unit building. The building, located at 241 Callan Ave., would be converted into condominiums. Three affordable housing units would be sold to purchasers with incomes at or below 80 percent of the area median income. These units would be sold for a subsidized price of $185,000, reducing the market price by $100,000.
The grant would help pay for construction and pass savings onto income-eligible purchasers in the form of a price reduction. The Housing Commission recommended funding of $250,000, but city staff does not support this proposal.
Council is also scheduled to vote on:
_Ѣ A resolution on the Lakefront Master Plan. The plan proposes long-term redevelopment along the lakefront, including reconstruction on walking and biking paths along the beaches on Lee and Clark streets..
_ѢThe expansion of the West Evanston TIF district. The ordinance, introduced at the last council meeting, also proposes increasing the TIF budget from $25.5 million to $40 million. The expansion has been recommended by the Economic Development Committee and the Joint Review Board.
Reach Kirstin Maguire at [email protected].