Record #: O2020-3987   
Type: Ordinance Status: Passed
Intro date: 7/22/2020 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 9/9/2020
Title: Expenditure of Affordable Housing Opportunity Funds to preserve housing within Woodlawn Community Area and amendment of Municipal Code Title 5 by adding new Chapter 5-10 entitled "Tenant Opportunity to Purchase Woodlawn Pilot Program"
Sponsors: Lightfoot, Lori E. , Hairston, Leslie A., Taylor, Jeanette B.
Topic: CITY DEPARTMENTS/AGENCIES - Housing, - FINANCE FUNDS - Affordable Housing Opportunity Fund, MUNICIPAL CODE AMENDMENTS - Title 5 - Housing & Economic Development - Ch. 10 Tenant Opportunity to Purchase Woodlawn Pilot Program
Attachments: 1. O2020-3987.pdf


OFFICE OF THE MAYOR
CITY OF CHICAGO
LORI E. LIGHTFOOT
MAYOR

July 22, 2020










TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO


Ladies and Gentlemen:

At the request of the Commissioner of Housing, I transmit herewith, together with Aldermen Hairston and Taylor, an ordinance providing for Woodlawn-related funding and affordable requirements.

Your favorable consideration of this ordinance will be appreciated.


Very truly yours,

WOODLAWN HOUSING PRESERVATION ORDINANCE
WHEREAS, the City of Chicago (the "Citv") is a home rule unit of government under Article Vll, Section 6(a) ofthe Constitution ofthe 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 has determined that the continuance of a shortage of affordable housing to persons of low and moderate income is harmful to the health, prosperity, economic stability and general welfare of the City; and
WHEREAS, the DePaul Institute for Housing Studies found that the Woodlawn community area is a low and moderate income area in which home values have increased significantly in recent years, resulting in existing residents being vulnerable to increasing rents and displacement (see ); and
WHEREAS, according to a report commissioned by the Network of Woodlawn and prepared by AECOM, the median home sales price in Woodlawn almost doubled from around $92,000 in 2010 to about $175,000 in 2019; and
WHEREAS, the DePaul Institute for Housing Studies found that proximity to other high-cost areas and the pending development of the Obama Presidential Center ("OPC"), along with other ongoing and future projects in the Woodlawn community area, have the potential to attract increased investment and development in the community, creating increases in housing costs, loss of housing affordability and displacement of low and moderate income residents; and
WHEREAS, the City Coun...

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