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Record #: R2020-582   
Type: Resolution Status: Introduced
Intro date: 7/22/2020 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action:
Title: Call for Department of Housing to establish online homeownership opportunity for preservation and education database for owners of 2 to 4 unit buildings
Sponsors: La Spata, Daniel , Rodriguez, Michael D., Cardona, Jr., Felix , Rodriguez Sanchez, Rossana , Ramirez-Rosa, Carlos, Martin, Matthew J.
Topic: CITY DEPARTMENTS/AGENCIES - Housing & Economic Development
Attachments: 1. R2020-582.pdf
City Council Meeting July 22, 2020 Committee on Housing and Real Estate

Resolution
CREATING THE HOMEOWNERSHIP OPPORTUNITY for PRESERVATION and EDUCATION INITIATIVE FOR OWNERS OF 2-4 UNIT BUILDINGS

WHEREAS, two-to-four unit buildings represented 35.7% of the Cook County's rental stock in 2007 (https://www.housingstudies.org/releases/state-rental-2019/ );

WHEREAS, only 29.5% of that same housing stock was two-to-four unit buildings by 2017 (https://www.housingstudies.org/releases/state-rental-2019/ );

WHEREAS, since 2012, there has been a loss of 29,212 rental units in two-to-four buildings, representing a 9.8% decline (https://www.housingstudies.org/releases/state- rental-2019/);

WHEREAS, a 2012 report from the Institute for Housing Studies atDePaul University observed that two-to-four unit buildings account for approximately 33% of rental stock in Cook County and over 38% of rental stock in the City of Chicago (https://www.housingstudies.org/releases/two-four-unit-buildings-cook-countys-rental- market/);

WHEREAS, as of 2012, over 53% of multi unit rental units in Cook County's low to moderate income communities were in two to fourunit buildings (previous citation);

WHEREAS, prices for 1 to 4 unit buildings in the vulnerable portions ofthe western half of The 606 have increased by nearly 344% since 2012
(https://www.housingstudies.org/releases/Displacement-Pressure-in-Context-606/ );

WHEREAS, the average home in 2012 sold for 30% less than the city average, the average 1 to 4 unit building sold for double the average Chicago home in 2018 (previous citation);

WHEREAS, the City of Chicago should consolidate and make available to Chicago r...

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