2015 First Quarter Progress Report January-March
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CHICAGO DEPARTMENT OF PLANNING & DEVELOPMENT
LETTER FROM THE COMMISSIONER
We are pleased to submit the 2015 First Quarter Progress Report, which presents the Department of Planning and Development's progress on the goals set forth in the City's Five-Year Housing Plan. With this report we begin the second year of the plan, Bouncing Back, which covers the years 2014-18.
During the first quarter of 2015 the City approved funding for three multi-family development projects and enacted major revisions to the Affordable Housing Requirements ordinance, which requires developers to create affordable units in market-rate housing developments assisted by the City.
As we do at the beginning of each year, the Department is also releasing estimates of housing production under our programs for the full year of 2015. This year we expect to deploy more than $254 million to assist over 8,200 units of housing, through programs in the following three categories:
To Create and Preserve Affordable Rental Units: $206.4 million to assist 5,625 units
To Promote and Support Homeownership: $33.0 million to assist 473 units
To Improve and Preserve Homes: $14.6 million to assist 2,137 units
The Department's resources also include over $3 million for other initiatives, including delegate agency programs that complement our housing production efforts.
To help readers better understand the production tables included in chese quarterly reports, we have included a user's guide to the Department's housing development and preservation programs. The guide is organized by the three main categories of work as outlined above; it offers a brief description of each program along with information about funding sources and reporting methodologies.
The Department of Planning and Development (DPD) is the lead agency for the City's affordable housing, housing preserva...
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