The End of the Below-Market Interest Rate Program? | Bleader

Tuesday, December 14, 2010

The End of the Below-Market Interest Rate Program?

Posted By on 12.14.10 at 05:04 PM

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For 1,037 Chicago families, the future all depends on a relatively small, obscure amendment passing through the U.S Senate. Without it, they may just end up without a place to live, uprooted from the communities where they've lived for years, because of a short-sighted law passed 40 years ago.

The Chicago Reporter's Megan Cottrell picks up on something I'd totally missed—hundreds of thousands of HUD subsidized housing units, which have provided rent control for tenants around the country since the 1960s, will be unsubsidizing quickly in the next couple years, with predictable results.

Related: while reading up on it, I came across this February piece by Kari Lydersen, frequent contributor to many fine Chicago news outlets, on efforts among Chicagoland's south suburban communities to work collaboratively on housing, job, and transportation projects on a regional scale.


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