Your voice matters. Our advocacy efforts at the local, state and national levels is one of the most important benefits we have as Realtors. As the chair of the Chicago Association of REALTORS® Public Policy Coordinating Committee, which recommends the public policy initiatives of the association and provides legal counsel to the board of directors, I get to see the strength of our advocacy when we all work together.
Our industry’s advocacy efforts cannot succeed without Realtors to help amplify our messages and initiatives. As Realtors, we are experts on our 77 neighborhoods and see firsthand how public policy and decisions affect the citizens of Chicago. This makes us the perfect conduits to share this information with those who create legislation.
This year, the power of our advocacy was never more evident than in our efforts surrounding the real estate transfer tax resolution. Working with the Illinois REALTORS® organization and the National Association of REALTORS®, we opposed the referendum because of the possible implications it had on our neighborhoods, including discouraging investment and increasing the cost of housing.
During this campaign, our goal was to ensure that members were informed on the impacts of the proposed increased transfer tax, had the tools necessary to share that information with their clients and voted on the issue. These efforts led to the resolution’s being defeated at the polls.
At the end of April, we asked Chicago Association of REALTORS® members to use their voices and provide feedback on a $1.25 billion bond measure to help fund affordable housing and economic development programs for the next five years. Based on the member feedback we received, the Public Policy Coordinating Committee and the board of directors met to review the feedback and discuss our stance. We voted to support the issue, which was then approved by the City Council.
This bond program will now provide an opportunity to attract various real estate development projects that were not previously eligible for financing under the TIF program and provide gap financing for projects in the pipeline that were previously ineligible or lacking resources to move forward. We are aiming to work with the mayor and his administration on how best to implement these bonds for various projects. We will also be promoting various opportunities within our communities to utilize resources from the city. We’re hopeful this program will disperse funds in a more equitable manner, which will help develop the South and West sides, increase rates of homeownership, improve existing housing and fund critically needed affordable housing projects in Chicago.
As we look to the rest of the year, we will have our eyes on a few key ordinances and initiatives. The one we will be watching closest is the mayor’s new Cut the Tape Initiative, which looks at process improvements in affordable housing and commercial development. This is an initiative that we support, as it will help streamline the development process and bring costs and time down, thus creating more efficiency and encouraging development throughout the city.
In addition, we’re keeping a close eye on the Clean Affordable Buildings Ordinance, the Chicago Housing Authority’s scattered vacant site locations and the reassessment by the Cook County Assessor’s Office of city properties.
To stay abreast of these issues and to ensure your voice is heard, be sure to attend Coffee With Your GAD, virtually, the first Tuesday of every month, where we discuss legislative issues affecting Chicago with our government affairs director. Take the time to respond to calls to action when you see them. Join us for direct action days and public forums to support our legislative advocacy and stay on top of current issues. I hope I’ll see you getting involved and using your voice.
Staci Slattery is Public Policy Coordinating Committee chair for the Chicago Association of REALTORS® and managing broker at North Clybourn Group.