On Wednesday, August 14th, Department of Housing Commissioner Lissette Castañeda met with our Board of Directors to share insights on issues pertaining to housing in Chicago. Establishing relationships like these allows us to share how legislative issues directly impact our industry and clients. Keep reading to find out about the issues she discussed and the insights she shared:
Housing and Economic Development Bond Program
This program was supported by REALTORS® and was approved by City Council in April. The commissioner shared the status of ongoing projects in the pipeline and the type of projects the administration would like to see moving forward. Read the issue brief.
“Cut the Tape” Initiative
This initiative looks at process improvements in affordable housing and commercial development. According to the commissioner, while the task force is currently doing its work, there are other ways to get involved. The administration will continue to collect feedback from REALTORS®.
Accessory Dwelling Units
Both City Council and the Administration have ideas about expanding an ADU program city-wide. The Administration is making this a priority, as it is also part of the “Cut the Tape” Initiative. Movement on the program may be made this fall, but budget discussions are a priority, so it may be pushed into 2025. Read the issue brief.
Right to Counsel Program
This program is designed to provide free legal services to vulnerable low-income renters facing possible eviction. Recently, a subject matter hearing on the program was canceled. The commissioner shared that, right now, they are prioritizing low-income tenants through this program, but they will be considering supporting smaller landlords through the program.
Property Taxes
This year, there will be a citywide assessment of property taxes. Commissioner Castañeda said the issue of property taxes is under consideration with the Mayor.
Security Deposit & Move-In Fees
Within the Advisory Committee on Renting Rights, there have been discussions around move-in fees and security deposits. The committee is working through this discussion and the recommendations put forth by the Committee will be reviewed. Any feedback on these two issues will be considered and the feedback from REALTORS® is very important. A memo from the REALTORS® will be provided to the Commissioner regarding security deposits and move-in fees.
Black Reparations Task Force
The Equity Office under the Administration and the Black Caucus in Council are in discussion about this task force. As of right now, they are unsure about a timeline. The Administration is aware of REALTORS®’ interest in participation in this task force.
Looking for More Information?
Our advocacy page has in-depth details on ongoing housing initiatives.
Each month, we also host our virtual Coffee With Your GAD event, where you can learn about and discuss legislative issues affecting the Chicago real estate market. Find and register for an upcoming Coffee With Your GAD here.