SO2014-898
SUBSTITUTE ORDINANCE
<-■., Be It Ordained by the City Council of the City of Chicago:
SECTION 1. Chapter 17-4 of the Municipal Code of the City of Chicago is hereby amended by inserting the language underscored and deleting the language stricken, as follows:
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17-4-1002 Floor Area Ratio Bonus Menu. Floor area bonuses are subject to the standards of the following table and the specific standards of Sec. 17-4-1004 through Sec. 17-4-1023.
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Public Benefit/Amenity |
Eligibility Criteria and Bonus Formula |
Maximum Bonus |
Approval Authority |
Transit Station Infrastructure Improvements |
§ 17-4-1020 |
20% of base FAR |
Planned Development |
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17-4-1004-B Eligibility Criteria.
- Residential buildings in DR districts with a dash 5, 7 or 10 suffix are eligible to receive floor area bonuses for affordable housing, subject to the standards of Sec. 17-4-1004-E.
The affordable housing and adopt a landmark floor area bonuses are the only bonuses available to such buildings.
- Residential buildings in DX districts with a dash 5, or 7 suffix are eligible to receive floor area bonuses for affordable housing, subject to the standards of Sec. 17-4-1004-E.
The affordable housing and adopt a landmark floor area bonuses are the only bonuses available to such buildings.
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SO2014-898
17-4-1020 Transit Station Infrastructure Improvements.
17-4-1020-A Planned Development Approval. Floor area bonuses for transit station infrastructure improvements may be approved only in accordance with the planned development procedures of Sec. 17-13-0600. These bonuses are in addition to the permitted floor area bonuses set forth in Sec. 17-4-1004 through Sec. 17-4-1017. The site for which the floor area bonus is requested must be located in a dash 5. dash 7, dash 10, dash 12 or dash 16 "D" district.
17-4-1020-B Guidelines. Floor area bonuses may be granted for improvements to transit stations and other public transit infrastructure, subject to the following criteria and guidelines:
- Qualifying improvements may include new access easements^ of improvements, remediation and repairs to connecting passageways, mezzanines, er-concourse areas, tracks and other public transit structures and facilities.
- Cash contributions for transit stations or passageway improvements must be for stations or other public transit infrastructure within
1,200 2,000 feet of the proposed development site.
- Applicants who contribute transit
station infrastructure
* improvements and will be undertaking the work themselves, must submit documentation,
including but not limited to, appropriate drawings, detailed construction commitments, a construction schedule, and a performance bond for completion ofthe improvements.
- Applicants who make a cash contribution for transit
station infrastructure improvements that are to be undertaken by agencies such as the Chicago Transit Authority, must enter into an agreement with the City of Chicago and the agency undertaking the improvement providing for such cash contribution. AH ogreemcnts must be in a form approved by the Corporation Counsel. The Commissioner of Planning and Development may require evidence that such cash contribution has been funded by the Applicant as a condition to issuance of building permits and/or certificates of occupancy.
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SECTION 2. This ordinance shall take full force and effect upon its passage and approval. .
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PROPOSED TEXT AMENDMENT FOR "TRANSIT FACILITIES IMPROVEMENTS" BONUS
(Proposed modification of existing "Transit Station Improvements" bonus)
Stricken text is shown as bold stricken and added text is shown as bold underlined.
CHAPTER 17-4 DOWNTOWN DISTRICTS.
17-4-1004-B Eligibility Criteria.
- Residential buildings in DR districts with a dash 5, 7 or 10 suffix are eligible to receive.floor area bonuses for affordable housing, subject to the standards of Sec. 17-4-1004-E. The affordable housing, transit facilities improvements and adqpt-a-landmark floor area bonuses are the only bonuses available to such buildings.
- Residential buildings in DX districts with a dash 5, or 7 suffix are eligible to receive floor area bonuses for affordable housing, subject to the standards of Sec. 17-4-1004-E. The affordable housing, transit facilities improvements and adopt-a-landmark floor area bonuses are the only bonuses available to such buildings.
17-4-1002 Floor Area Ratio Bonus Menu. Floor area bonuses are subject to the standards of the following table and the specific standards of Sec. 17-4-1004 through Sec. 17-4-1023.
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Public Benefit/Amenity |
Eligibility Criteria and Bonus Formula |
Maximum Bonus |
Approval Authority |
Transit Station Facilities Improvements |
§ 17-4-1020 |
20% 25% of base FAR |
Planned Development |
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17-4-1020 Transit Station Facilities Improvements.
17-4-1020-A Planned Development Approval. Floor area bonuses for transit station facilities improvements may be approved only in accordance with the planned development procedures of Sec. 17-13-0600. These bonuses are in addition to the
permitted floor area bonuses set forth in Sec. 17-4-1004 through Sec. 17-4-1017. The site for which the floor area bonus is requested must be located in a dash 5. dash 7. dash 10. dash 12 or dash 16 "D" district.
17-4-1020-B Guidelines. Floor area bonuses may be granted for improvements to transit stations and other public transit facilities, subject to the following criteria and guidelines:
1. Qualifying improvements may include new access easement^ of improvements or repairs to connecting passageways; mezzanines, of concourse areas . and other structures and facilities.
v 2. Cash contributionsfoF<tonsitstations,prpassageway improvements must be for stations or facilities within 1.f200 feetof the proposed development site.
- Applicants who contribute transit station facilities improvements and wil be undertaking the work themselves, must submit documentation, including but not limited to, appropriate drawings, detailed construction commitments, a construction schedule, and a performance bond for completion ofthe improvements.
- Applicants who make a cash contribution for transit station facilities improvements that are to be undertaken by agencies such as the Chicago Transit Authority, must enter into an agreement with the City of Chicago and the agency undertaking the improvement. All agreements must be in a form approved by the Corporation Counsel.
17-4-1020-C Bonus Formula.
- Floor area bonuses for qualifying improvements are to be based on the value of property within the geographic area, based on the following formula: Cost of 1 square foot of floor area = 80% * median cost of land per buildable square foot.
- The cost of land must be based on sale prices within the most recent 5 years, as provided by the Department of Housing and Economic Development.
- The Commissioner of Housing and Economic Development is responsible for updating estimates of land values annually.
Brendan Reilly Alderman, 42nd Ward