One of Chicago’s premiere community foundations is paving the way for vacant lots across the state to be redeveloped more easily.
In Cook County alone, there are an estimated 50,000 vacant lots and abandoned properties, mostly on the south and west sides of Chicago and in the south suburbs.
In front of the House Revenue Committee, the Chicago Community Trust led a coalition, speaking out in favor of changes to the Illinois Tax Sale System.
The group says the changes will increase development in those neighborhoods and prevent out-of-state investors from profiting off letting them sit vacant.
“I’ve seen the blocks decimated with abandoned properties and it’s really a disservice to the residents,” said state Rep. Nick Smith.
The legislation, which is currently pending in Springfield, would allow developers to acquire vacant properties more easily.
Source: Fox32 Chicago