Jiménez-Backed Law Increasing State Support for More Affordable Housing Solutions Advances to House Floor

Jiménez-Backed Law Increasing State Support for More Affordable Housing Solutions Advances to House Floor

SPRINGFIELD, Ill. – State Rep. Lilian Jiménez, D-Chicago, passed a measure out of the Housing Committee on Wednesday, May 7, that would support community land trusts in their efforts to create lasting affordable housing amid rising mortgage and rental costs.

"Rising costs and a chaotic Washington are putting families in a bind, and they feel like no one is fighting for them and their basic needs," Jiménez said. "Billion dollar developers continue to swipe up more and more of our available lots, turning them into upscale units and pricing out longtime residents of our communities. This toxic cycle must end. That's why I am fighting to break the cycle, return ownership of neighborhoods to the people who live there and create a housing market that values families, not profits."

The Jiménez-backed Senate Bill 1261 would restart the Community Land Trust Task Force established in 2023 to study the creation, development and use of Community Land Trusts (CLTs) as they work to address the rising costs of housing. Additionally, her legislation would increase access to grants available through the Illinois Housing Development Authority to help CLTs with capacity building and housing development.

A Community Land Trust is a model that disaggregates the cost of land on which a housing unit is built and the cost of that unit. A CLT is typically started by a nonprofit organization which buys the land and holds it in a trust, allowing for the unit to be bought and sold through multiple transactions without prices rising at an out-of-control rate. Ultimately, holding the plot of land in a trust helps insulate the cost of the property rising based on market speculation and the whims of billionaire property developers. Typical CLTs also set income standards, ensuring the property remains affordable to low and middle income prospective homeowners.

"CLTs are critical for filling the gaps in our affordable housing stock, because they're often single-family, multi bedroom homes made to support large, intergenerational families," Jiménez said. "When we talk about cutting the cost of living, housing has to be at the top of our to-do list. My legislation would ensure Community Land Trusts are a cornerstone of our efforts. Illinois' housing needs are vast, and so too are our solutions."

Jiménez's Senate Bill 1261 passed the Housing Committee on Wednesday, May 7.

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