All three proposals need the approval of the Chicago City Council, and it will be up Chicago’s next mayor – either Brandon Johnson or Paul Vallas – to decide whether to champion the effort launched by Mayor Lori Lightfoot.
Lightfoot, who lost her bid for a second term as Chicago mayor last month, launched the effort to chart a new future for LaSalle Street between Washington Street and Jackson Boulevard, an area of the city significantly changed by the shift triggered by the COVID-19 pandemic in how and where Chicagoans work and shop.
The rules set by Lightfoot required any residential development along LaSalle Street to put aside 30% of their units for Chicagoans earning 60% or less of the area’s median income, which is $62,520 for a family of four, according to city data, in order to get millions of dollars in city subsidies from the downtown tax-increment financing district.
All three proposals need the approval of the Chicago City Council, and it will be up Chicago’s next mayor – either Brandon Johnson or Paul Vallas – to decide whether to champion the effort launched by their now-vanquished rival.
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