CHICAGO (WLS) -- Tuesday the Chicago City Council approved a binding referendum, called Bring Chicago Home, which will appear on the March 2024 ballot. Voters will decide whether to authorize city council members to raise the real estate transfer tax on high-end property sales to fight homelessness.
The referendum was championed by North Side 49th Ward Ald. Maria Hadden.
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"We really rely on federal support and funding, things that come direct from federal government or the state. It's been woefully insufficient for years," she said.
The referendum pits the real estate industry against those who say an increase to the city's real estate transfer tax is the best way to pour hundreds of millions of dollars into programs to address homelessness.
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"We have to show Chicago that we know how to use what we have," said 15th Ward Alderman Ray Lopez.
The city council was also set to vote on the controversial issue of Chicago businesses having paid time off, but the matter was deferred for at least one more meeting.