June 30, 2010 :: LPCC, Legislative

Vacation Rental Ordinance Hurts Businesses

FOR IMMEDIATE RELEASE

Lincoln Park Chamber of Commerce Statement: Vacation Rental Regulations
New Fees Hurt Businesses, Neighborhoods

CHICAGO (June 30, 2010) – It is no secret that Chicago is a destination locale on a global scale.  With visitors traveling to Chicago from all corners of the globe, the diversity of accommodations offered is a valuable marketing tool for the city’s tourism industry. The Lincoln Park Chamber of Commerce (LPCC) is opposed to the new ordinance regulating Vacation Rental properties as the new fees associated with the legislation will hurt small business owners and the neighborhoods in which they operate.

“The LPCC is against this ordinance because the legislation makes it more difficult and expensive for yet another industry to conduct business in the City of Chicago,” said Kim Schilf, LPCC President and CEO.  “Businesses operating these unique rental units to tourists are both an asset to, and a marketing tool of, Chicago’s vibrant neighborhoods that are often lacking in adequate hotel rooms.

“This issue speaks to the businesses operating Vacation Rental units, their employees and the shops, restaurants and entertainment venues in the neighborhood that benefit from out of town guests.  With an additional bi-annual $500 per unit tax, as well as specialized licensing, the fact of the matter is that businesses may close, and people may lose their jobs,” Schilf said.  “Now is not the time to jeopardize the well-being of the tourism industry and its diverse accommodations.”

This ordinance makes Chicago the first major city to place regulations and fees on the Vacation Rental industry.  Additionally, it should be noted that more than 100 drafts of this ordinance and nearly a year of debate were required to get the support necessary from the Chicago City Council to approve the measure. 

“While the LPCC supports efforts to provide safe, quality lodging to Chicago’s visitors, we are concerned about mounting fees across the hospitality and other industries,” Schilf continued.