SUBSTITUTE
REVENUE ORDINANCE
WHEREAS, The City of Chicago is a home rule unit of'government as defined in Article VII, Section 6(a) ofthe Illinois Constitution; and
WHEREAS, As a home rule unit of government, the City of Chicago may exercise any power and perform any function pertaining to its government and affairs; and
WHEREAS, The management of its finances is a matter pertaining to the government and affairs of the City of Chicago; now, therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:
This ordinance is organized into Articles, as follows:
Article I. Asset Management Cost Recapture
Article II. Business License Application Fee
Article ML Vacant Lot Towing
Article IV. Late Payment Penalty
Article V. Public Way Permit Subcontractor Reform
Article VI. Public Way Use Fee Reform
Article VII. Full Payment Certificates
Article VIII. Lead Service Line Replacement
Article IX. Administrative Debt Relief Ordinance of 2023
Article X. Severability; Superseder
Article XI. Effective Dates
ARTICLE I.
ASSET MANAGEMENT COST RECAPTURE
SECTION 1. Section 2-44-065 of the Municipal Code of Chicago is hereby amended by adding the language underscored, as follows:
2-44-065 Program applications, administration, and related fees.
(a) The Commissioner shall have the authority to charge fees in the amount specified and provided in this section for the processing of program applications and program administration and closing costs of programs administered by the Department. Such fees shall not be refundable and shall not guarantee approval of an application or adequacy of funding. The amount of fees shall be as follows:
(1) Application Fee tor multifamily finance or asset management, including, but not limited to loans, grants, bonds, loan restructurings, subordinations, modifications, transfers, and tax credits - $1,500 for for-profit applicants and $750 for nonprofit applicants.
(Omitted text is unaffected by this ordinance)
ARTICLE II. BUSINESS LICENSE APPLICATIO...
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