Ald. Byron Sigcho-Lopez (25), chair of the housing committee, is pictured at a council meeting Sept. 18, 2024. [Don Vincent/The Daily Line]

The City Council Committee on Housing and Real Estate on Wednesday will consider changes to the city’s rules for requiring economic disclosure documents from people seeking city actions and a low affordability designation for a part of the city’s Far North Side.

The housing committee will meet at noon in council chambers.

The committee is expected to vote on a substitute ordinance (SO2024-0013054) amending the rules for when the city requires a person or organization seeking city approval for things such as real estate transactions, property tax reclassification, zoning changes, vacation of streets and alleys, or leases or contracts to submit economic disclosure statements. 

A vote on the original measure was delayed in January to allow alderpeople more time to get questions answered about the proposal. The measure had also been held in committee at an October 2024 meeting. 

Under the original ordinance (O2024-0013054), the city would no longer have required economic disclosure documents in relation to any interested party’s “temporary” occupancy agreement, one that lasts for 180 days or fewer. The substitute remains largely the same, except that it would still require those parties to fill out a similar form disclosing any financial or personal conflicts of interest between the party and city employees or officials.

The committee will also consider an ordinance (O2025-0016733) to renew and amend a lease agreement with TCB-Kedzie LLC to allow the city to use the property at 4770 S. Kedzie Ave. in the 14th Ward. The city has leased 8,000 square feet of office space at the property since 2016 and operates a Department of Finance Neighborhood Payment Center there, according to the ordinance. 

The measure would renew the lease, currently set to expire at the end of June, for an additional 10 years. However, the ordinance states that a 2023 survey of the premises identified deficiencies that the city wants the building’s landlord to address before the lease is renewed, such as better accessibility compliance for people with disabilities, stronger glass dividers, insulation for restroom water pipes and additional security measures. However, the city also proposed to remedy the issues itself and deduct the costs from its rent. 

The housing committee will also consider an ordinance (O2025-0016649) to designate the 48th Ward, which includes Edgewater and Uptown, as a Low Affordability Community. The designation would allow some housing developments in the ward the opportunity to receive temporary property tax reductions.  

The designation goes hand-in-hand with the Cook County Assessor’s Office’s Affordable Housing Special Assessment Program. 

The program, based on state law, provides for a reduction in assessed value for a specific property if it receives the low affordability designation by the City Council. Eligible properties must have owners that commit to maintaining at least 20 percent of a new or rehabilitated multifamily building’s units as affordable for 30 years. 

The housing committee will also consider the sale (SO2024-0011039) of 16 vacant city parcels to NeighborSpace as part of the development of an open space community garden project called Ton Farm. The parcels are proposed to be sold for $1 and are located at 617-641 E. 134th St. and 604-608 E. 134th Pl., 628-636 E. 134th Pl., 644-648 E. 134th Pl. and 656-660 E. 134th Pl. in the 10th Ward. 

Additionally, NeighborSpace also has agreed to acquire 24 adjacent parcels from the Cook County Land Bank Authority for the project. 

The committee will also consider an ordinance (O2025-0016723) authorizing the sale of city-owned land at 946 E. 75th St. in the 6th Ward to Floating Museum for the creation of a public sculpture park and community gathering space. Floating Museum would buy the parcel through the ChiBlockBuilder platform for $937. 

The housing committee will also consider an ordinance (O2025-0016724) to authorize the sale of city-owned property at 6441 S. Maryland Ave. in the 20th Ward to Restoration of the Primitive Christian Church, The Light of the World through the ChiBlockBuilder platform. The church plans to purchase the land for $4,662 and turn it into a public plaza next to the church with a brick pathway, landscaped open space and a fountain.

Finally, the committee will consider an ordinance (O2025-0016728) to approve the sale of vacant city-owned land at 2241 and 2245 W. Monroe St. in the 27th Ward. The developer plans to purchase the land for $178,752 and build a four-story residential building on the site.