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July 24, 2019 Comments Off on Aldermen Want Protections for Affordable Housing Near Obama Center Views: 358 Chicago News, South Side

Aldermen Want Protections for Affordable Housing Near Obama Center

Two South Side aldermen plan to introduce a community benefits agreement (CBA) intended to prevent the proposed, $500-million Obama Presidential Center in Jackson Park from displacing area residents, the Chicago Sun-Times reported. The proposed ordinance would implement protections within two miles of the Obama Center.

Within that radius, the affordable housing set-aside requirement for new developments would increase from 10% to 30%. Developers of new or renovated for-sale or rental units no longer would have the option to pay a fee “in lieu of” creating affordable units on-site.

The ordinance also would require the owners of multifamily properties within the protected area to give the Department of Housing and building residents at least 180 days’ notice if the property will be sold or transferred.

In a non-binding February referendum, just under 90% of voters in four precincts covering parts of Jackson Park, Woodlawn and Washington Park supported implementing a CBA.

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Read more at Chicago Sun-Times


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