Nearly 75% of South Side subsidized units in jeapordy

At the same time that public housing is being dismantled and the cost of renting and buying is on the rise, nearly 75 percent of the 12,400 low-income units covered by rental subsidy contracts and mortgage assistance on the South Side could be lost in the next three years, according to the Chicago Rehab Network. More than a dozen South Side groups will participate in the organization’s South Side Affordable Housing Summit at 8:30 a.m. on Saturday June 3 at King High School, 4445 S Drexel Blvd.

The summit will focus on tools for preserving affordable housing, including a new state law that requires tenant notification when owners decide to end subsidies and gives tenant associations the first option to purchase the property.

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