Outside City Hall on Wednesday, July 21, elected officials and advocates stood together to demonstrate support and to speak on the pressing need to address homelessness and housing instability. As Illinois’ Eviction Moratorium is set to be lifted, a dedicated funding stream for affordable housing is needed. Alderwoman Maria Hadden of the 49th Ward reintroduced a resolution on behalf of Bring Chicago Home in the City Council meeting later that morning. The resolution aims to restructure the Real Estate Transfer Tax (RETT), a one-time tax on properties when they are sold, to create a new, substantial, and legally dedicated revenue stream to provide permanent affordable housing. |