Ordinance O2024-0011003
Passed
Designation of N Milwaukee Ave from N Wisner Ave to N Kedzie Ave as Low Affordability Community
Auto-generated summary
Chicago's ordinance, combating affordable housing shortage, utilizes the Affordable Housing Special Assessment Program, introduced by the Illinois General Tax Assembly. The Cook County Assessor’s Office implements this program, reducing property values in 'Low Affordability Communities' with new or rehabilitated affordable rentals. Owners must commit for 30 years to keep 20% of units below maximum rents. The ordinance, effective upon passage and publication, designates North Milwaukee Avenue as a low-affordability area, with the City Clerk and Department of Housing authorized to deliver a certified copy to the Assessor.
Sponsors
| Sponsor | Ward | |
|---|---|---|
|
Ramirez-Rosa, CarlosPrimary Sponsor | Ward 35 |