The Chicago City Council once again delayed a vote on the proposed Sweet Home Chicago Ordinance and sent it back to the Joint Committee on Finance and Housing for further debate.  The original Ordinance, introduced by Alderman Walter Burnett (27th Ward) earlier this year, would require the City to annually obligate an amount equal to 20% of the aggregate tax increment revenue generated in all TIF Districts throughout the City for use in affordable housing projects.  The earliest the Ordinance will be voted on is now January 2011.

Adding to the challenge for Sweet Home Chicago supporters, Alderman Patrick O’Connor (40th Ward) introduced a substitute Ordinance in November.  The substitute Ordinance would establish a City-wide goal of a 20% set aside for affordable housing, however the Ordinance does not require the City to set aside funds for affordable housing.

The substitute Ordinance also includes language that requires the TIF revenues generated in a TIF District to be spent in that TIF District, except as otherwise permitted by law.  Several Aldermen in areas with high affordable housing demands have voiced their opposition to this requirement, claiming that developers should construct the affordable units anywhere in the City where there is demand for them.

The substitute Ordinance has also been referred to the Joint Committee on Finance and Housing for debate.

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