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This record contains private information, which has been redacted from public viewing.
Record #: SO2017-6225   
Type: Ordinance Status: Passed
Intro date: 9/6/2017 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 10/11/2017
Title: Amendment of Municipal Code Chapter 2-45 by adding new Section 2-45-119 entitled "Milwaukee Corridor ARO Pilot Area Ordinance" (Affordable Requirements Ordinance)
Sponsors: Emanuel, Rahm
Topic: MUNICIPAL CODE AMENDMENTS - Title 2 - City Government & Administration - Ch. 45 Dept. of Planning & Development
Attachments: 1. SO2017-6225.pdf, 2. O2017-6225.pdf
SUBSTITUTE ORDINANCE
WHEREAS, the City of Chicago ("City") is a home rule unit of government by virtue of the provisions of the Constitution of the State of Illinois of 1970, and as such, may exercise any power and perform any function pertaining to its government and affairs; and
WHEREAS, the City Council of the City (the "City Council") finds that the availability of affordable housing in high opportunity areas is critical to the future of Chicago; and
WHEREAS, in the last decade more than fifty companies have moved their corporate headquarters from the suburbs to the city, bringing more high-wage jobs and a workforce attracted to walkable, transit-rich, mixed-use environments; and
WHEREAS, this trend has transformed, and continues to transform, neighborhoods close to the city center and along transportation lines leading to downtown; and
WHEREAS, with increasing demand for housing near downtown, the pace of development and the value of homes in urban core neighborhoods have escalated and existing low and moderate income residents have been priced out of their communities; and
WHEREAS, the City Council finds that this cycle of gentrification and displacement exacerbates historic patterns of racial and economic segregation, deepens the concentration of poverty and wealth, and widens disparities in access to good schools, jobs, healthcare and other amenities; and
WHEREAS, the City Council finds that the 2015 Affordable Requirements Ordinance, Section 2-45-115 of the Municipal Code, is insufficient to prevent displacement and broad demographic change in gentrifying neighborhoods, and that additional measures are necessary to increase production of affordable housing, protect vulnerable residents, and create neighborhoods where residents of all incomes can thrive; and
WHEREAS, the City Council finds that neighborhoods along the Milwaukee corridor adjacent to the CTA's Blue Line are undergoing gentrification; and
WHEREAS, the City Council finds that it is in the public...

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