Committee on Finance Approves Housing Development Financing and Settlement Orders
At a glance
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The Committee on Finance met on September 16, 2024, and approved multiple ordinances for affordable and mixed-income housing projects totaling over $47 million in financial assistance and tax increment financing. The committee also authorized five settlement orders in litigation cases against the City of Chicago totaling approximately $14.95 million, approved charitable solicitation permits, and processed small claims and verdicts from July and August 2024.
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Key decisions
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- Approved financial assistance and TIF redevelopment agreement for CARE Manor affordable housing project at 4531-4533 and 4549-55 W. Washington Boulevard (28th Ward) with assistance not to exceed $9.75 million and TIF of $15 million
- Approved financial assistance and TIF redevelopment agreement for Legends South A3 mixed-income housing development at 4520 S. State Street (3rd Ward) with assistance not to exceed $2.98 million
- Approved Multi-Family Housing Revenue Bonds for MHL2 Prairie District Apartments at 1801 S. Wabash Avenue (3rd Ward) with assistance not to exceed $10.97 million
- Approved financial assistance for MHL3 Prairie District Apartments at 1800 S. Michigan Avenue (3rd Ward) with assistance not to exceed $3.90 million
- Approved First Amendment to Intergovernmental Agreement with Chicago Park District for TIF funds for improvements at Kells Park (27th Ward) not to exceed $17 million
- Authorized five settlement orders in litigation cases totaling approximately $14.95 million, including settlements of $150,000, $300,000, $500,000, $2.5 million, and $11.6 million
- Approved two charitable solicitation permits for The Salvation Army North and Central Illinois Division and Save the Children Federation Inc.
- Approved payment and denial of various small claims against the City of Chicago
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Meeting information
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Committee on Finance
Written public comment deadline September 13, 2024, 1:00 P.M.
Agenda
Agenda items not available.
Documents from this meeting
- Otherhttps://occprodstoragev1.blob.core.usgovcloudapi.net/meetingattachmentspublic/a324228b-5941-42d1-a11e-d198e25bbedd.pdf
- Agendahttps://occprodstoragev1.blob.core.usgovcloudapi.net/meetingattachmentspublic/313afe76-2431-408a-83e3-c3c23d99f4a4.pdf
- Noticehttps://occprodstoragev1.blob.core.usgovcloudapi.net/meetingattachmentspublic/ad65eec0-0b87-4ca0-b627-52a52af73359.pdf
- Summaryhttps://occprodstoragev1.blob.core.usgovcloudapi.net/meetingattachmentspublic/7e3ca3b3-7d6e-4cfd-8971-df8d171f8ac1.pdf
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