Committee on Housing
AFFORDABLE HOUSING PRESERVATION ACT ORDINANCE
WHEREAS, The City of Chicago (the "City") is a home rule unit of government pursuant to Article VI, Section 6(a) of the 1970 State of Illinois Constitution and, as such, may exercise any power and perform any function pertaining to its government and affairs; and
WHEREAS, The City has determined that a shortage of affordable housing available to low- and moderate-income households is harmful to the health, prosperity, economic stability and general welfare of the City; and
WHEREAS, The City's current Five-Year Housing Plan (2019-2023) recognizes that most of the City's existing affordable housing is in unsubsidized, naturally occurring housing, often in the form of older 2- and 4-flats and smaller multi-family residential buildings; and
WHEREAS, Protecting such naturally occurring affordable housing is critical to protecting vulnerable households from displacement; and
WHEREAS, Many areas in the City are experiencing high levels of gentrification and displacement of vulnerable households; and
WHEREAS, experts believe that there is a need for approximately 120,000 units of affordable housing making any loss of affordable housing catastrophic; and
WHEREAS, the area adjacent to the Red Line Modernization between Wilson and Bryn Mawr is experiencing a significant change due to a major public investment in transit infrastructure, and
WHEREAS, the community area of Pilsen, the area along 606 Trail, the Woodlawn Community Area, and the area around the Obama Center have been part of successful deconversion pilots
WHEREAS, It is in the public interest to protect vulnerable households throughout Chicago from displacement by assessing a surcharge on demolitions of dwelling units within the boundaries defined in Sections 17-7-580 and 17-7-590 of the Municipal Code of Chicago; and
WHEREAS, This surcharge is authorized under the City's home rule powers, as well as the Illinois Municipal Code, 65 ILCS 5/1 1-42-1, n...
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