Chicago's Mayor Makes a Plea for Affordable Housing
Mayor of Chicago Richard Daley writes that despite the billions of dollars that the City has invested, and despite the hard efforts of community and faith-based organizations to devote their resources, that the City continues to face an unmet need for affordable housing. He urges the Illinois State Assembly to pass legislation that "without a general tax increase...would provide subsidies to landlords to reduce the rents of very-low income tenants throughout Illinois." He adds: "The program would be funded by a $10 surcharge on the recording fee for real estate transactions." According to Mayor Daley, nearly three-quarters of Chicago's renters pay more than 30 percent of their income on rent.
Thanks to Connie Chung