Chicago Mayor Rahm Emanuel has proposed an initiative aimed at driving neighborhood development by leveraging downtown development with Neighborhood Opportunity Bonuses. These bonuses would exchange added square footage for funds that would be invested in business development in struggling neighborhoods. The proposal would reform the current Zoning Bonus Ordinance, which enables additional square footage in downtown development in exchange for public amenities such as public plazas, water features, sidewalk improvements, and affordable housing units. The mayor’s proposal hopes to update the current system by “eliminating outdated bonuses, closing loopholes and establishing a new funding source for economic development projects in underserved neighborhoods.” The mayor’s office claims the updated ordinance could produce tens of millions of dollars over the next several years. Neighborhoods named in the mayor’s announcement as examples that could benefit from the initiative include Greater Englewood, Auburn Gresham, and Garfield Park. Examples given of what the funds could be used for include “reviving a commercial retail corridor or bringing a new grocery store to a food desert.” “The new system would directly extend the benefits of a strong downtown to neighborhoods with unrealized potential,” David L. Reifman, commissioner of the Department of Planning and Development said in the initiative's press release. Mayor Emanuel announced the initiative at the Chicago Neighborhood Development Awards (CNDA) to an audience of neighborhood advocates, developers, and architects. “One developer’s density bonus will not become another struggling neighborhoods economic opportunity, he said. “The whole goal is not to pit one part of our city against another, but to see those that are seeking density bonuses, and want to build taller, we’ll work with you. But means with that opportunity there are funds we are going to see, so when a neighborhood gets housing, there will be a grocery store. When another developer wants to build a hotel, apartment buildings, or condos, or an office building, that becomes in that neighborhood an opportunity for retail portion that have not seen.” As with how current zoning bonuses function in the city, projects will work through their aldermen and the city council for approval. The funds will be distributed through “an open process for development proposals,” with will work with residents and stakeholders. The allocated money will be outlined, with information of supported projects, in a public report provided annually to the City Council. The proposed initiative will be reviewed for approval by the City Council in the spring.
Posts tagged with "ordinances":
Chicago mayor Rahm Emanuel floats ordinance to fast-track transit-oriented development, reduce parking minimums
This week Chicago Mayor Rahm Emanuel will push a plan to expand transit-oriented development (TOD) by easing zoning restrictions and releasing certain projects from parking requirements altogether. The city already has an ordinance providing for transit-oriented development and, as AN has previously reported, several projects have rushed to take advantage of it. Mixed-use developments with dozens of new housing units have slashed their parking lots, avoiding a longstanding code requirement that they provide one spot for every unit by building near transit stations. Chicago's Metropolitan Planning Council (MPC) gave the proposed changes a favorable preliminary analysis, building off its own “TOD calculator” which the agency released recently in order to spur private developers into building on dozens of properties it labeled “ready for TOD.” Emanuel's new ordinance would give developers of such projects more opportunities to reduce their investment in parking. Here are the changes City Council members will vote on Wednesday, according to the mayor's press office:
• TOD incentives will be available within an expanded radius from a transit station: up to 1,320 feet (1/4 mile) or 2,640 feet (1/2 mile) on a Pedestrian-designated street. • A 100 percent reduction from residential parking requirements if replaced with alternative transportation options, such as a car sharing station on site, or bike parking. • A streamlined process for accessing the minimum lot area, floor area ratio (FAR), and building height incentives by allowing developers to secure these benefits through an Administrative Adjustment from the Zoning Administrator, as opposed to a zoning map amendment by City Council under current law. • For projects that trigger the city’s Affordable Requirements Ordinance (ARO), an additional 0.25 FAR increase (to 3.75) if the development includes half of any required affordable housing units on site, plus an additional 0.25 FAR increase (to 4.0) if the development includes all required affordable housing units on site.