For purposes of this chapter, the following definitions apply:
"Affordable housing" means housing where the residents pay no more than 30 percent of their adjusted gross monthly household income in rent.
"Conversion" means any action that transforms all or part of an SRO into any type of use, residential or non-residential, that does not meet the definition of SRO.
"Demolition" means any action resulting in the complete or partial, interior or exterior, destruction of an SRO, or the combination of two or more units in an SRO to make a larger unit, or any other action that results in the reduction of the number of units in an SRO.
"Extremely low-income" means those individuals and families whose gross household incomes are between zero and 30 percent of the median gross household income for the Chicago region, as determined by the Secretary of the United States Department of Housing and Urban Development, with adjustments for smaller and larger families.
"Low-income" means those individuals and families whose gross household incomes are between 50 and 80 percent of the median gross household income for the Chicago region, as determined by the Secretary of the United States Department of Housing and Urban Development, with adjustments for smaller and larger families.
"Owner" has the meaning ascribed to that term in Chapter 14A-2 of the Municipal Code of Chicago.
"Selling or otherwise transferring ownership" means transferring the current owner's interest in an SRO to any person, other than a member of the owner's family, by any means, including changing the title or changing the beneficiary of a trust. This definition does not include any internal transfer of control between current officers, members, or managers of corporations, partnerships, or other business entities. Nor does this term apply to any transfer of an SRO where the new owner has committed to maintain at the property a number of units of subsidized affordable housing for low-, very low-, and extremely low-income individuals and families equal to at least 80 percent of the current number of units at the property.
"Single-room occupancy building" or "SRO" means a residential building that contains five or more single-room occupancy units and in which at least 90 percent of the units are single-room occupancy units.
"Single-room occupancy unit" or "SRO unit" has the meaning ascribed to that term in Section 17-17-02164 of the Municipal Code of Chicago.
"Subsidized affordable housing" means affordable housing where individuals and families reside and pay rent to the owner with the benefit of governmental or charitable rental subsidies, rental assistance payments, or other housing assistance payment contracts, which may create a third-party right to the tenancy.
"Unsubsidized affordable housing" means affordable housing where individuals and families reside and pay rent to the owner without the benefit of any governmental or charitable rental subsidies, rental assistance payments, or other housing assistance payment contracts.
"Very low-income" means those individuals and families whose gross household incomes are between 30 and 50 percent of the median gross household income for the Chicago region, as determined by the Secretary of the United States Department of Housing and Urban Development, with adjustments for smaller and larger families.
(Added Coun. J. 11-12-14, p. 97375, § 2; Amend Coun. J. 4-10-19, p. 100029, Art. II, § 84)