Office of the City Clerk - Record #: O2021-5871

• Record #: O2021-5871
• Type: Ordinance
• Status: Passed
• Intro date: 12/15/2021
• Current Controlling Legislative Body: Committee on Finance
• Final action: 1/26/2022
• Title: Amendment of Municipal Code Sections 2-8-065, 14A-3-313, 14A-3-313.1 and 14A-3-313.6 regarding waiver of City debt for distressed residential and mixed-use properties enrolled in community revitalization and re-occupancy programs
• Sponsors: Lightfoot, Lori E. , Mitchell, Gregory I., Scott, Jr. Michael
• Topic: MUNICIPAL CODE AMENDMENTS - Title 2 - City Government & Administration - Ch. 8 City Council & Wards of City, MUNICIPAL CODE AMENDMENTS - Title 14A - Administrative Provisions of the Chicago Construction Code - Ch. 14A-3 Enforcement

Date	Journal Page Number	Action By	Action	Result
1/26/2022	43179	City Council	Passed	Pass
1/24/2022		Committee on Finance	Recommended to Pass
1/19/2022		Committee on Finance	Add Co-Sponsor(s)
12/15/2021	42070	City Council	Referred

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

December 15, 2021










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


Ladies and Gentlemen:
At the request ofthe Commissioner ofthe Department of Housing, I transmit herewith, together with Alderman Mitchell, an ordinance authorizing the establishment of a debt waiver program for the purpose of community revilalization.

Your favorable consideration ofthis ordinance will be appreciated.


Very truly yours.

ORDINANCE

WHEREAS, The City of Chicago Department of Housing is committed to creating programs to support acquisition, redevelopment, rehabilitation and re-occupahcy of abandoned buildings citywide; and

WHEREAS, Many buildings that have fallen into disrepair are in low- to moderate-income communities that have experienced significant disinvestment over the past two decades; and

WHEREAS, As part ofthe effort to reclaim and revitalize communities, the Department of Housing has created numerous programs to promote the redevelopment of distressed residential properties; and

WHEREAS, Departmental programs work to support neighborhood efforts to increase safety and security, as well as build community wealth; and

WHEREAS, Many buildings that may benefit from these programs have accrued fines, judgments, water and sewer charges, and other City debt that make redevelopment of these buildings nearly impossible; and

WHEREAS, City debt is a major obstacle to acquisition and rehabilitation, as it often drives the redevelopment costs above the after-rehabilitation value, which effectively eliminates the possibility of a home buyer obtaining mortgage financing; and

WHEREAS, Supporting local developers and removing City debt as an obstacle to the rehabilitation of distressed homes aids the Department of Housing in achieving its goals of promoting community wealth building and encouraging City revitalization; now, therefore,


BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:

SECT...