Monday, January 22, 2007

Chi-Town Daily News: Candidate for Chicago City Council calls for moratorium on condo conversions
Thanks to Nancy Levy for this link:

Chris Adams, candidate for 49th Ward Alderman, called Friday for a 12-month moratorium on new condominium conversions in Rogers Park and announced he would create a 49th Ward Low Income Housing Trust Fund – the first of its kind in Chicago – as part of a strategy to stem the decline in affordable housing in the 49th ward...Condo conversions in Rogers Park have dislocated numerous families and driven others out of the community altogether, threatening the cultural and economic diversity on which the community prides itself. Adams said Ald. Moore’s set-aside policies have been ineffective. A report by the Lakeside Community Development Corporation linked the rapid increase in the number of new condominiums in Rogers Park to a sharp decline in rental units. According to the Lakeside report, Rogers Park has lost 3,600 rental units in just the last four years.

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