SUBSIiTUH
"ordinance
Whereas, the City of Chicago is a home rule unit of local government under Article VII, Section 6(a) of the 1970 Constitution of the' State:of Illinois; and
Whereas, as a home rule unit, the City may exercise any power and perform any function pertaining to its government and affairs, including the power to regulate for the protection of the public health, safety, and welfare; and
Whereas, in order to preserve the public health, safety, and welfare, it is important for the City to have a variety of safe housing available and affordable to its residents of every income group; and
Whereas, housing stability promotes stronger neighborhoods and communities, and increases public health, safety, and welfare; and
Whereas, the opening of the Bloomingdale Trail in 2015 is correlated with housing instability for residents within one-half mile ofthe Trails as rental prices have risen and buildings have been demolished to build more expensive buildings, raising the taxes on long-term residents so that they cannot afford to stay in their homes; and
Whereas, housing instability for residents in the region of the Bloomingdale Trail as a result ofthe Trail's creation has been documented by the Institute for Housing Studies at DePaul University in "Measuring the Impact of the 606: Understanding how a Large Public Investment Impacted the Surrounding Housing Market;" and
Whereas, it is necessary, desirable, and in the public interest to protect the affordable housing stock in the 606 Residential Area, such protection to include minimizing displacement of long-time residents; and
Whereas, a temporary moratorium on complete demolitions, which can lead to destabilizing the community and reducing the availability of affordable housing within the 606 Residential Area, so that the City can evaluate data and findings on how to help preserve the affected community is a useful and Important step to further the above objectives within the 606 Residential Area; now, therefo...
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