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Record #: O2017-3900   
Type: Ordinance Status: Failed to Pass
Intro date: 5/24/2017 Current Controlling Legislative Body: Committee on Zoning, Landmarks and Building Standards
Final action:
Title: Amendment of Municipal Code Chapter 2-45 by adding new Section 2-45-160 entitled "Pilot Act for the Preservation of Affordable Housing in the 606 Residential Area"
Sponsors: Maldonado, Roberto, Moreno, Proco Joe, Ramirez-Rosa, Carlos
Topic: MUNICIPAL CODE AMENDMENTS - Title 2 - City Government & Administration - Ch. 45 Dept. of Housing and Economic Development
Attachments: 1. O2017-3900.pdf
Related files: R2019-362
AMENDMENT OF TITLE 2 OF THE MUNICIPAL CODE OF CHICAGO TO ADD A PILOT ACT FOR THE PRESERVATION OF AFFORDABLE HOUSING IN THE 606 RESIDENTIAL AREA

WHEREAS, the City of Chicago (the "City") is a home rule unit of local government under Article VII, Section 6(a) ofthe 1970 Constitution ofthe State of Illinois; and
WHEREAS, the City's home-rule authority includes the power to enact ordinances and regulations aimed at preserving safe, decent, and affordable housing in Chicago; and
WHEREAS, the City is experiencing a shortage of affordable housing, especially in gentrifying neighborhoods; and
WHEREAS, the lack of affordable housing is a critical problem, which threatens the economic and social quality of life in the City; and
WHEREAS, the unmet demand for affordable housing units in the Logan Square and Humboldt Park neighborhoods is already among the highest in the City (www.housingstudies.org/research-publications/state-of-housing/2016-state-rental-housing- cook-county/); and

WHEREAS, the opening ofthe 606 Trail in 2015 has accelerated: (a) increases in rents and property prices in the areas of Logan Square and Humboldt Park adjacent to the 606 Trail ("the 606 Residential Area"); (b) the elimination of affordable housing units in the 606 Residential Area, including the replacement of existing two-flats with rental units by new construction of owner-occupied luxury units; and (c) the displacement of long-term residents; and
WHEREAS, property prices in the 606 Residential Area west of Western Avenue have increased by 48.2 percent since ground was broken on the 606 Trail
(www.housingstudies.org/media/filer_public/2016/10/31/ihs_measuring_the_impact_of_the_606 .pdf); and

WHEREAS, the City's current Five Year Housing Plan (2014-2018) recognizes that the replacement cost of an existi...

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