SUBSTITUTE ORDINANCE
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:
SECTION 1. Section 2-45-117 of the Municipal Code of Chicago is hereby amended by deleting the language stricken through and by adding the language underscored, as follows:
2-45-117 Near north/near west affordable housing pilot area.
(Omitted text is unaffected by this ordinance)
(G) Modified ARO Requirements. The requirements of Section 2-45-115 shall apply in the Near North/Near West Pilot Area, except as modified below:
(Omitted text is unaffected by this ordinance)
(6) Incentive for Family-Sized Units. In the Near North/Near West Pilot Area, the commissioner, after consultation with the alderman of the ward in which the residential housing project is located, may reduce the required number of affordable units in exchange for units with more bedrooms, as follows:
(j) one 2-bedroom unit is eguivalent to 1.25 studio units or 1.25 one-bedroom units:
one 3-bedroom unit is equivalent to 2 studio units or 1.5 one-bedroom units: and
one 4-bedroom unit is eguivalent to 2.5 studio units or 2 one-bedroom units.
(I) Rules and Regulations. The commissioner is authorized to adopt such rules and regulations as the commissioner may deem necessary for the proper implementation, administration and enforcement of this section. The commissioner shall provide an annual report to the City Council Committee on Housing and Real Estate detailing the outcomes of the pilot program.
(Omitted text is unaffected by this ordinance)
Jason Ervin Alderman, 28th Ward
SECTION 2. This ordinance shall be in full force and effect following passage and publication. ^ —¦—¦> ll
Michael Scott, Jr. AldeVman, 24th Ward
Walter Burnett Alderman, 27th Ward
JOSEPH A. MOORE
Alderman, 49th Ward 7356 north Greenview Avenue Chicago, Illinois 60626 telephone 773-338-5796 ward49@cityofchicago.org
www ward49 com
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