A measure to create more affordable housing in Chicago is coming up for a long-awaited vote today in the city council.
The ordinance takes aim at a special pot of money Mayor Richard Daley has used for years for economic development. The measure would set aside 20 percent of those tax increment financing dollars to create affordable housing and rehab foreclosed homes.
Daley has opposed the plan, which was first introduced in March. One sponsor, Ald. Walter Burnett Jr., 27th, said he’s hopeful it will pass and that Daley won’t strike it down.
“If he vetoes it, all he does is strike a nerve in so many more people in the city of Chicago who have suffered, who are suffering right now,” Burnett said.
Burnett said a majority of aldermen have pledged support. City officials have argued that some TIF dollars already go toward affordable housing and the ordinance would hamstring efforts to create jobs.
