(Section scheduled to be repealed on December 31, 2026) Sec. 25. Duties. The Community Land Trust Task Force shall: (1) collect data regarding the current use of community land trusts in Illinois and opportunities for expansion statewide, including the number of properties that could be acquired by a land trust through the property tax sale system; (2) study the use of community land trusts as a tool to create permanently affordable housing, including as an alternative to property tax sales; (3) analyze centralized models that support the use of community land trusts to create and maintain affordable housing used in other states and countries worldwide; (4) create a cost-benefit analysis describing any savings to the State if a community land trust model was pursued, including when compared to current affordable rental housing programs and savings across other sectors; (5) outline financing and lending opportunities for community land trusts to make homeownership attainable to historically marginalized communities; (6) examine the impact substantial investments in community land trusts would have on closing the racial wealth gap in Illinois; (7) examine any different considerations in the use of community land trusts in gentrifying and disinvested communities; (8) examine incentive packages to encourage current property owners to sell their homes to a community land trust; (9) explore complementary uses of community land trusts and housing cooperatives; and (10) prepare a final report making specific recommendations of legislative and budgetary action that supports the mission of community land trusts to foster affordable housing and homeownership. community land trusts in Illinois and opportunities for expansion statewide, including the number of properties that could be acquired by a land trust through the property tax sale system; to create permanently affordable housing, including as an alternative to property tax sales; of community land trusts to create and maintain affordable housing used in other states and countries worldwide; savings to the State if a community land trust model was pursued, including when compared to current affordable rental housing programs and savings across other sectors; community land trusts to make homeownership attainable to historically marginalized communities; community land trusts would have on closing the racial wealth gap in Illinois; of community land trusts in gentrifying and disinvested communities; property owners to sell their homes to a community land trust; trusts and housing cooperatives; and recommendations of legislative and budgetary action that supports the mission of community land trusts to foster affordable housing and homeownership.
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