Chicago aldermen advance new members for Northwest Side home equity board

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Chicago aldermen on Monday advanced a group of appointees to a Northwest Side taxpayer-funded commission that guarantees home sale prices for members in several bungalow belt neighborhoods, a program that was created decades ago to try to stem white flight. Some aldermen questioned the policies of the Northwest Home Equity Assurance Program, which has collected more than $10 million in small property tax payments from all homeowners within its boundaries since the late 1980s, but has handed out just a few payments in that time to residents whose houses didn’t sell for a set minimum price.

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via Chicago Tribune https://ift.tt/2jgMfxH

October 5, 2020 at 03:18PM

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