Financing Urban Resiliency: Innovative Approaches to Deliver Affordable Housing in Chicago
November 15, 2018
8:30am - 4:00pm
DescriptionThe Lab is part of a series of workshops, held in partnership with AECOM, which will examine ways to engage and accelerate new forms of capital to the urban resiliency space across a handful of global cities. Resilience refers to the adaptability of the physical, social and economic systems of a city. One of Chicago’s greatest challenges is affordable housing.
The Lab will bring together a group of investors, government decision-makers, CDFIs, non-profits, property developers and industry experts to address the current challenges through more innovative financing and policy design. This workshop will have participants focus on affordable housing in Chicago as a case study, and map out practical, real-time solutions to finance the current funding gap. Participants will explore various themes including alternative sources of pre-development and equity funding, revamping current building and zoning codes, the potential of the newly designed Opportunity Zone legislation, and community based solutions - such as a neighborhood land trust. Attendees will also look to programs underway in other regions to see how cities across America are addressing the shortage of affordable housing. The session will provide an opportunity to map out a strategic plan with concrete action items to scale availability.
Financial Innovations Labs are the Milken Institute's signature research tool, bringing together researchers and policymakers with business, finance, and professional practitioners to create market-based solutions to business and public policy challenges. The findings of these interactive Labs are publicly distributed. Previous topics have included residential energy-efficiency, small-business financing, archaeological discovery and conservation, and biomedical research and development. (Click here for samples of reports from previous Labs.)