Illinois General Assembly - Full Text of HR0672
Illinois General Assembly

Previous General Assemblies

Full Text of HR0672  102nd General Assembly

HR0672 102ND GENERAL ASSEMBLY


  

 


 
HR0672LRB102 25502 LAW 34790 r

1
HOUSE RESOLUTION

 
2    WHEREAS, Gentrification affects predominantly Black and
3Latino communities across the State of Illinois; and
 
4    WHEREAS, Gentrification involves the physical
5redevelopment of communities through investments in new
6housing, infrastructure, and businesses that lead to higher
7property values, rents, and property taxes, often replacing
8longstanding households and community institutions; and
 
9    WHEREAS, Gentrification also often involves cultural
10displacement, in which the norms and values of longtime,
11predominantly Black and Latino and working class residents are
12replaced by those of a newly-dominant, often whiter, and more
13middle class group of residents; and
 
14    WHEREAS, Gentrification has been exacerbated by the
15COVID-19 pandemic, with major losses of income and an
16estimated 320,000 Illinoisans facing eviction filings in
17January 2021; and
 
18    WHEREAS, Gentrification is driven by structural racism in
19the U.S. housing system, including race-based zoning,
20redlining, deed restrictions, contract selling, predatory
21lending, and other practices, which has blocked Black home

 

 

HR0672- 2 -LRB102 25502 LAW 34790 r

1ownership and created stark and persistent inequalities in
2wealth and financial well-being between Black and white
3households in the State of Illinois; and
 
4    WHEREAS, Structural racism in the housing system
5reinforces wealth inequality between white and non-white
6households; the typical white family owns about $184,000 in
7family wealth versus just $38,000 for Latino families and
8$23,000 for Black families; and
 
9    WHEREAS, This divide translates to massive differences in
10quality of life; owning a home or business in a neighborhood in
11which property values are appreciating is one of the primary
12ways of accumulating wealth in the United States, leaving
13Black and Latino families more reliant on home equity, reverse
14mortgages, and other sources to finance retirement than white
15families; and
 
16    WHEREAS, The racial wealth gap restricts the progress of
17this country and is estimated to cost as much as $1.5 trillion
18in lost economic growth over the next decade; and
 
19    WHEREAS, The Illinois Legislative Black Caucus has called
20for legislation addressing housing, banking, and capital
21investment to eliminate barriers to economic opportunity in
22Black communities in its Economic Access, Equity and

 

 

HR0672- 3 -LRB102 25502 LAW 34790 r

1Opportunity Pillar; therefore, be it
 
2    RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE ONE
3HUNDRED SECOND GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that
4we believe that investments in business, home ownership, and
5community development in Black and Latino communities are
6essential for creating shared prosperity in our communities;
7and be it further
 
8    RESOLVED, That we recognize the importance of property
9values that come from new development and investment as a
10source of wealth for native populations; and be it further
 
11    RESOLVED, That we commit to combating gentrification and
12displacement, to protect native populations as their
13communities change, and to support efforts to close the racial
14wealth gap in the State of Illinois; and be it further
 
15    RESOLVED, That we commit to studying the effects of
16gentrification and displacement in the State as well as
17studying solutions that will protect native populations and
18allow them to participate in the rebuilding of their
19communities, including but not limited to:
 
20        (1) Increasing investments in home repair for longtime
21    Black and Latino residents, particularly for seniors in

 

 

HR0672- 4 -LRB102 25502 LAW 34790 r

1    the community on fixed incomes, through the Illinois
2    Housing Development Authority's Single Family
3    Rehabilitation Program; and
 
4        (2) Increasing opportunities for home ownership for
5    Black and Latino residents through Illinois Housing
6    Development Authority mortgages and down payment
7    assistance as well as financial institutions regulated
8    under the Illinois Community Reinvestment Act; and
 
9        (3) Expanding use of the Long Time Occupancy Homestead
10    Property Tax Exemption, the Senior Citizen Assessment
11    Freeze Homestead Exemption, the Homestead Improvement
12    Exemption, and the Senior Citizen Tax Deferment in
13    predominantly Black and Latino neighborhoods; and
 
14        (4) Allowing communities to limit predatory rent
15    increases for Black and Latino renters in gentrifying
16    neighborhoods by repealing the Rent Control Preemption
17    Act.