Reform Would Add More Than $400 Million to Local Economy Annually
CHICAGO--(ENEWSPF)--July 28, 2015. Mayor Emanuel announced yesterday that he will be introducing at the July 29 City Council meeting a transit oriented development (TOD) reform ordinance that would create incentives for more development near Chicago Transit Authority (CTA) and Metra stations. The new ordinance builds upon the Mayor’s 2013 TOD ordinance by expanding the size of the TOD zones, eliminating the parking requirements in these areas altogether, and adding new incentives for affordable housing. According to a preliminary analysis by the Metropolitan Planning Council . . .