The city of Chicago will provide renters with $102 million in financial assistance and create more than 2,400 affordable rental units across the city, Mayor Lori Lightfoot’s administration announced Monday.

       The city will provide up to 18 months of missed rent and utility payments and up to three months of future rent and utility payments for eligible applicants who are struggling financially and have lower incomes. People can apply online through the city’s housing web page.

       Mayor Lori Lightfoot on Monday announced the city is acquiring more than six vacant acres in Pilsen, shown in a June photo, that will be used for 280 affordable housing units. (Antonio Perez / Chicago Tribune)

       The deadline is Dec. 18 and payments are capped at $2,500 per month. The program is funded through the federal American Rescue Plan for COVID-19 relief.

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       Also Monday, Lightfoot announced her administration is acquiring more than six acres of vacant land at 18th and Peoria streets in Pilsen that will be used for affordable housing. It will lead to the creation of 280 affordable units in the Latino neighborhood, which has experienced significant gentrification.

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       “Today’s announcement has been more than six years in the making with the people of Pilsen standing shoulder-to-shoulder, demanding affordable housing, and that collective fight was for the social fabric of an entire community that stretches beyond this intersection,” Pilsen Ald. Byron Sigcho-Lopez said in a statement. “Thanks to our city and to our community, this is how we stop displacement together.”

       Lightfoot’s administration said it’s funding 24 affordable housing developments for 2,428 units, which is up from 11 developments and 1,083 units in 2019, the city said.

       Most of the developments are on the South and West sides, according to the city.

       “Investing in affordable housing is a critical component to creating an equitable, strong city,” Lightfoot said in a statement.

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