Renewed Inc. meets the housing needs of the most vulnerable Illinoisan.
Extremely Low Income Households
The extremely low income population in need of housing is defined by individuals and households with incomes of 35% or less of Area Median Income. ELI renter households are housing-cost-burdened, paying more than 35% --and most severely cost-burdened, paying more than 50%-- of their small income for housing.
Therefore housing for the state's poorest households is a critical need and a major organizational concern.
Fair Share Housing
Renewed Inc. represents a long-term commitment to address the housing needs of extremely (<35% AMI) low-income, cost-burdened households by increasing the number of affordable housing units available in every Illinois community. Our goal extends beyond the supply of affordable housing to include a more equitable geographic distribution of those units, especially with greater consideration for neighborhood inclusion and enhanced opportunity for low-income households.
New Housing Strategies
We urge the implementation of new strategies that are working in other areas including community-based housing options for people facing foreclosure , disabilities, with more productive inclusionary housing counseling programs, more use of permanently affordable housing, and promotion of mixed-income communities. We advocate planning and implementation of affordable housing programs at all levels which will extend and strengthen the work of promoting equity and inclusion through the production and location of affordable housing in Illinois.
This can be accomplished through:
careful, strategic use of precious state and federal funds
land use policies that facilitate putting affordable ELI housing into new communities
financing policies that result in a greater supply and more equitable distribution of ELI units
local ordinances that increase the prevalence of mixed-income communities
Strengthening relationships with financial institutions to create retention plans for those facing foreclosure
The Housing Counseling Initiative
Renewed Inc. has created the housing counseling agency to strengthen the communities by providing free assistance to those who need help in the area of housing counseling. Renewed Inc. seeks to help the communities in which we serve consumed with financial crisis.
*WE HAVE MET THE NATIONAL INDUSTRY STANDARDS GUIDELINES FOR HOMEOWNERSHIP COUNSELING *