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Lightfoot Proposes Revisions to Chicago’s Affordable Ordinance
Mayor Lori E. Lightfoot on Wednesday introduced a revised Affordable Requirements Ordinance (ARO) to Chicago City Council. Intended to encourage production of more affordable and family-size units, the revised ARO expands off-site options geared toward Chicagoans in the greatest need for affordable rental housing while also focusing on anti-displacement measures.
The current ordinance was passed in 2015. It applies to residential developments of 10 or more units and requires that developers provide 10% of their units at affordable prices or pay in-lieu fees that the department then uses for affordable housing citywide.
The revised ARO, the product of 18 months’ work including a task force report, increases the set-aside to 20% downtown, in neighborhoods with low current levels of affordable housing and in neighborhoods facing displacement of low-income residents. It also reduces the number of units that may be paid out with in-lieu fees from 75% to 50%
- ◦Development
