St. Charles P&D Committee Approves First Street PUD Plan and Housing Funding

The Planning & Development Committee of St. Charles met on January 20, 2023, to review key housing and development initiatives, including First Street PUD plans, Housing Trust Fund allocations, and affordable housing projects.

First Street PUD Preliminary Plan Approved

The committee approved the preliminary plan for the First Street PUD project, moving it forward to the City Council for zoning approval.

• Approval grants zoning authorization only; funding and construction will follow pending council approval.

• Staff will solicit bids to determine accurate project costs, estimated for February 2023.

• Construction is anticipated to take approximately 9 months once bids are finalized.

• Ongoing communication with First Street businesses will ensure they are informed about the project timeline and impacts.

This milestone represents a significant step toward downtown redevelopment and economic growth.

St. Charles Housing Trust Fund Overview

Ellen presented an update on the Housing Trust Fund, highlighting:

• Current balance: $1.97 million with an additional $500,000 expected from developer contributions in 2023.

• The fund supports affordable housing initiatives, including partnerships with the Kane County Affordable Housing Fund.

• The city is one of only eight communities in Illinois with a mandatory inclusionary housing ordinance, underlining its commitment to housing affordability.

Anthony Place Two Funding Request Approved

The committee approved allocating up to $1.1 million from the Housing Trust Fund for Anthony Place Two, an affordable senior housing project:

• Funding structured as a zero-interest loan, to be repaid after 20 years.

• The increased funding request was due to rising construction costs and interest rates.

• City Council approval is required for an additional $865,000 allocation to cover the city’s share through the Kane County fund.

This approval ensures continued support for affordable senior housing in St. Charles.

Inclusionary Housing Fee Structure Maintained

The committee voted to maintain the current three-tier inclusionary housing fee structure, which allows developers opting out of constructing affordable units to contribute to the Housing Trust Fund.

• This structure helps fund affordable housing projects citywide while maintaining compliance with local ordinances.

Building 8, Lot 4 Update

A request for an update on Building 8, Lot 4 redevelopment was discussed.

• Staff will provide a detailed status update at the next Planning & Development meeting, ensuring transparency and ongoing project monitoring.

Key Takeaways

1. First Street PUD preliminary plan approved – a critical step for downtown redevelopment.

2. Anthony Place Two funding secured – supporting affordable senior housing.

3. Housing Trust Fund remains robust, with future opportunities for affordable housing initiatives.

4. Inclusionary housing fees retained, reinforcing the city’s long-term commitment to housing affordability.

St. Charles continues to demonstrate a balanced approach to urban development, affordable housing, and economic growth, while maintaining transparency with the community.