SUBS T I T U T E ORDINANC K
WHEREAS, the City of Chicago ("City") is a home rule unit of government by virtue of . the provisions of the Constitution of the State of Illinois of 1970, and as such, may exercise any power and perform any function pertaining government and affairs; and
WHEREAS, the City possesses an unfortunate legacy of racial discrimination in housing that has led to decades of disinvestment, lack, of decent, affordable options, wealth-building opportunities and wealth theft in some neighborhoods; and
WHEREAS, decades of exclusion, including by race, class, and disability, make Chicago one of the most segregated cities in the country; and
WHEREAS, the cost of this segregation is high, both for the City's overall economic vitality and for those who find their access, to jobs, grocery stores, transit and other opportunities limited by their zip code; and
WHEREAS, this historic discrimination coupled with the longstanding affordable housing crisis has resulted in a citywide shortage of nearly 120,000 affordable homes; and
WHEREAS, the availability of affordable housing in high opportunity areas is critical to Chicago's socio-economic future; and
WHEREAS, the COVID-19 pandemic has not only been a once-in-a-lifetimc public health threat, but has wrought devastating social and economic damage on Chicagoans, and it is clear that the affordable housing crisis has become even more acute in a post-COVlD-l 9 world; and
WHEREAS, the City Council finds that the ongoing cycle of gentrification and displacement continues to exacerbate historic patterns of racial and economic segregation, deepen the concentration of poverty and wealth, and widen disparities in access to good schools, jobs, healthcare and other amenities; and
WHEREAS, the City Council finds that it is in the public interest to adopt a new Affordable Requirements Ordinance ("ARO") to address entrenched patterns of segregation citywide more directly; and
WHEREAS, the Department of Housing cre...
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