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Lightfoot Forms Panel to Study Affordable Housing Supply
With affordable housing a key sticking point in contract negotiations between the city and the Chicago Teachers Union, Mayor Lori Lightfoot is forming a task force to study a key ordinance aimed at increasing the city’s supply of affordable stock.
The panel would explore ways to improve the city’s Affordable Requirements Ordinance, or ARO, requiring developers to include affordable apartments or condominiums in residential projects when they seek a zoning change or other assistance from the city.
Crain’s Chicago Business reported that housing advocates have said the ARO program lacks teeth because developers generally can avoid the on-site obligation by paying into a fund or building the affordable units elsewhere.
Three housing experts will chair the task force: Stacie Young of the Community Investment Corp., Juan Sebastian Arias of the Metropolitan Planning Council and Tony Smith of PNC Bank. The city is also seeking volunteers to serve on the panel.
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