Housing Market Study and Needs Analysis
The Village of Shorewood Community Development Authority is currently conducting a Housing Market Study and Needs Analysis along with project consultants, Novogradac Consulting LLP, to help decision makers, stakeholders, and community members better plan for the future.
The CDA opted to take on this study for several reasons:
- This study will help determine how best to move forward with its Neighborhood Improvement Loan Program. That program, which previously offered no-interest loans for down-payment assistance, duplex conversions and attic improvements, has been suspended since 2018.
- The data and recommendations will provide some base knowledge for upcoming Strategic Planning to be jointly undertaken by the Village Board and CDA in February/March 2020. That planning is expected to provide direction for future use of economic development tools, such as TIF, that may be targeted towards development activities inclusive of housing.
- The analysis will also provide the Village with insight into whether or not it should consider extending the life of any of its TIF districts to support affordable housing needs. TID 1 is scheduled to retire its debt in 2021, so that discussion will need to take place in 2020.
- The study will include the required information to fulfill the State’s newly mandated housing affordability reports.
- The study will provide the basis for updating the housing chapter of the Village’s Comprehensive Plan, which is required to be updated by January 2021. Recommendations within that plan are expected to tackle zoning updates based on a review of current land use regulations.
As part of the public engagement process, two Town Hall meetings were held on Thursday, November 7th at 1:00 pm and 6:00 pm in the Village Center to discuss housing issues in the community; such as:
- What do you see as the primary housing need in the community:
- What types of housing projects would you support,
- Where within the community would you like to see those projects developed
- What does housing affordability mean to you?
Preliminary findings were shared with the CDA at a special meeting on Thursday, December 19th at 6:30 pm in the Village Center.
Preliminary recommendations were shared with the CDA at a special meeting on Thursday, January 16th at 6:00 pm in the Village Center.
Comments regarding either the Draft Findings pr recommendations may be submitted online through the following survey. The Draft Final Report is expected to be shared with the CDA a their February 7th meeting. Comments pertaining to that report will be solicited prior to final acceptance in preparation for strategic planning in Spring 2020.
If you have any questions, contact Bart Griepentrog, Planning and Development Director.