WBEZ: Emanuel presents five-year housing plan to city council
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Chicago Mayor Rahm Emanuel will present a five-year housing plan to city council on Wednesday that calls for investing $1.3 billion to produce or preserve 41,000 units of housing.Read the whole thing!
“Bouncing Back” tries to address forces that have battered Chicago - namely the foreclosure crisis and a population decline of 200,000 people from 2000 to 2010 -- with a focus on putting vacant and foreclosed properties back into the mix.
The city wants to unload the 8,000 residential parcels it owns.
“We would like to create a much smoother and more efficient process for getting those parcels back out to people who can use them, make larger lots for example,” said Andrew Mooney, commissioner of planning and development.
For example, a program called Englewood Estates in the Englewood neighborhood would allow residents to acquire city-owned lots. These kind of side-lot programs aren’t new and are criticized because owners must still pay taxes on the properties. Mooney said he will work with city council to work out possible incentives.