CHICAGO (CBS) — After months of negotiations, the Emanuel administration and housing advocates have outlined a unified vision for an ordinance to preserve many single-room occupancy hotels in Chicago.

WBBM Newsradio Political Editor Craig Dellimore reports Rev. Lois Parr, a leader of the Chicago For All Coalition, said thousands of SRO units have been lost in recent years, and such affordable housing is needed by low-income residents.

“We’re so excited to stand here now with the mayor’s office to announce the introduction of the SRO and Residential Hotel Preservation Ordinance to the City Council,” she said.

Chicago Housing Commissioner Felicia Davis said the ordinance contains incentives to keep SRO’s open, but she acknowledged some owners simply don’t want to.

“Owners who wish to convert their buildings to market rate may still do so, but will need to maintain 20 percent of the units as affordable, or pay a preservation fee,” she said.

Still, a developer of SROs said the measure will do more harm than good, and they’ll oppose the proposed ordinance.