HomeMy WebLinkAbout120-R-22 Directing the Chief Finance Officer to Deposit Revenues Generated from the Graduated Real Estate Transfer Tax from the Sale of Real Estate Valued Over $1.5 million to the Reparations Fund11/14/2022
120-R-22
A RESOLUTION
Directing the Chief Finance Officer to Deposit Revenues Generated
from the Graduated Real Estate Transfer Tax from the Sale of Real
Estate Valued Over $1.5 million to the Reparations Fund
WHEREAS, on November 19, 2018 the City Council adopted Ordinance
148-O-18, amending the City’s Real Estate Transfer Tax; and
WHEREAS, the City now imposes different taxes based on the value of
real property sold; and
WHEREAS, the City acknowledges the harms caused by the disparities
and inequities imposed by prior City ordinances and policies, including exclusionary
zoning and relocation of housing to less desirable areas on the City’s Black residents;
and
WHEREAS, in November 2019, the City Council passed Resolution 126-
R-19 directing the creation of the Reparations Fund, to be funded by the Adult Use
Cannabis Tax; and
WHEREAS, in November 2020, the City Council created a permanent
Reparations Committee tasked with developing recommendations to address historical
discrimination in the City of Evanston; and
WHEREAS, the Reparations Committee recognizes that the Adult Use
Cannabis Tax is insufficient as a sole source; and
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120-R-22
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WHEREAS, the Reparations Committee recommends the Reparations
Fund be supplemented by the revenue generated by taxes imposed as a result of
Ordinance 148-O-18.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF EVANSTON, COOK COUNTY, STATE OF ILLINOIS:
SECTION 1: That the foregoing recitals are hereby found as fact and
incorporated herein by reference.
SECTION 2: That the Chief Financial Officer is hereby authorized and
directed to divert one-hundred percent (100%) of funds received as a result of taxes
imposed in accordance with City Code 3-25-2(b) and (c) to the City’s Reparations Fund
each year for the next ten years, in an amount not exceed $1 million each year.
SECTION 3: This Resolution shall be in full force and effect on January 1,
2023.
_______________________________
Daniel Biss, Mayor
Attest:
______________________________
Stephanie Mendoza, City Clerk
Adopted: __________________, 2022
Approved as to form:
_______________________________
Nicholas E. Cummings, Corporation Counsel
November 14
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