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City Council Enacts Affordable Ordinance for Woodlawn
Chicago’s City Council on Wednesday approved the Woodlawn Housing Ordinance, an affordable housing preservation ordinance that will protect existing residents of Woodlawn from displacement, expand homeownership opportunities and ensure inclusive economic growth for the historic South Side neighborhood.
The ordinance earmarks an initial commitment of more than $4.5 million from the city, while leveraging another $5 million or more from banks and lenders.
“Since day one, our efforts have been focused on building economic growth and cultural enrichment in the Woodlawn community while also ensuring that every neighborhood resident is able to stay in their homes and share the transformative promise by the Obama Presidential Center,” said Mayor Lori Lightfoot.
The ordinance entails new tenant protections, including the right to form a tenants’ association if a landlord seeks to sell a property; enhanced local hiring requirements; and turning city-owned vacant land into affordable housing for both renters and home buyers.
For comments, questions or concerns, please contact Paul Bubny
- ◦Development
