City Council - July 26, 2017, Committee on Housing and Real Estate
RESOLUTION
WHEREAS, The Department of Planning and Development is responsible for connecting housing, community development, and economic development efforts in pursuit of stronger, more viable communities in Chicago, and therefore has a huge impact on the residents; and
WHEREAS, Stable, affordable housing is a lifeline to educational success, health and well-being, and economic security; and
WHEREAS, Residents in Chicago, especially in gentrifying neighborhoods struggle to keep up with their housing costs and many are falling behind; and
WHEREAS, Residents in many urban neighborhoods are being displaced due to increased rent, property value and property taxes; and
WHEREAS, Research conducted by the MacArthur Foundation has indicated nearly half of Chicago adults (48%) report that they spend more than 30% of their income on housing—far more than the 31% of all U.S. adults who report paying such a high percentage of their income for housing; and
WHEREAS, Affordable housing is one of the most pressing issues our City faces; and
WHEREAS, The City has an obligation to develop and implement programs that create substantially more affordable units in areas experiencing and forecasted to experience gentrification; and
WHEREAS, As an example, the multi-use path "EL PASEO" will accelerate the increase in rents, property value and property taxes in the neighborhoods of Pilsen and Little Village; and
WHEREAS, it is necessary to protect the long-time residents of Chicago, especially in gentrifying neighborhoods from displacement; and
WHEREAS, The unmet demand for affordable housing in areas of Chicago is a critical problem that must be addressed; now, therefore
BE IT RESOLVED, That we, the Members of the City Council of the City of Chicago, assembled