Committee on Finance approves financing package for Thrive Exchange South redevelopment
At a glance
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On October 28, 2024 the Committee on Finance passed a substitute ordinance approving a redevelopment agreement and the issuance of Multi-Family Tax-Exempt Bonds and other financial assistance to Thrive Exchange, LLC for the Thrive Exchange South project at 7905 S. Exchange Avenue (7th Ward). Approved assistance amounts not to exceed: $6,700,000 from the Chicago Recovery Plan; $13,100,000 from TIF; and $19,175,000 in Tax-Exempt Bonds.
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Key decisions
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- Passed substitute ordinance authorizing execution of a redevelopment agreement with Thrive Exchange, LLC for Thrive Exchange South (7905 S. Exchange Avenue).
- Authorized issuance of Multi-Family Tax-Exempt Bonds for the project (amount not to exceed $19,175,000).
- Approved Chicago Recovery Plan assistance for the project (amount not to exceed $6,700,000).
- Approved TIF assistance for the project (amount not to exceed $13,100,000).
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Meeting information
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Committee on Finance
Written public comment deadline October 25, 2024, 12:00 P.M.
Agenda
Agenda items not available.
Documents from this meeting
- Agendahttps://occprodstoragev1.blob.core.usgovcloudapi.net/meetingattachmentspublic/32e86ef4-f845-4abd-a77b-9431f83b20d5.pdf
- Noticehttps://occprodstoragev1.blob.core.usgovcloudapi.net/meetingattachmentspublic/aac828ea-c19d-4d75-8f82-b8afb95e4cc0.pdf
- Summaryhttps://occprodstoragev1.blob.core.usgovcloudapi.net/meetingattachmentspublic/5a095caf-a4d5-4ec0-b8a7-0955dd5257c2.pdf
- Summaryhttps://occprodstoragev1.blob.core.usgovcloudapi.net/meetingattachmentspublic/a3bf48bc-dce5-440a-8027-e5a2568d8e92.pdf
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