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Record #: O2019-6968   
Type: Ordinance Status: Introduced
Intro date: 9/18/2019 Current Controlling Legislative Body: Committee on Housing and Real Estate
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 606 Residential Area"
Sponsors: Maldonado, Roberto, Ramirez-Rosa, Carlos, La Spata, Daniel , Cardona, Jr., Felix , Martin, Matthew J. , Rodriguez Sanchez, Rossana , Sawyer, Roderick T., Lopez, Raymond A., Sigcho-Lopez, Byron
Topic: MUNICIPAL CODE AMENDMENTS - Title 2 - City Government & Administration - Ch. 45 Dept. of Planning & Development
Attachments: 1. O2019-6968.pdf
COMMITTEE ON HOUSING AND REAL ESTATE
AMENDMENT OF TITLE 2 OF THE MUNICIPAL CODE OF CHICAGO TO ADD A PILOT 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 of the 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-housinq/2016-state-rental-housinq- cook-countv/); and

WHEREAS, the opening ofthe 606 Trail in 2015 is 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 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 previous Five Year Housing Plan (2014-2018) recognized that replacement of ...

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