Ordinance O2023-0001297
Passed
Issuance of multi-family bonds or notes to New City Redevelopment Limited Partnership for acquisition of property at 1515 W 47th St and 1635-1641 W 47th St for construction of low-income housing, with technology and business support hub
Auto-generated summary
Chicago Mayor Brandon Johnson has proposed an ordinance for the issuance of up to $21 million in tax-exempt bonds to fund the United Yard affordable housing projects. The New City Redevelopment Limited Partnership, who is applying for the funding, plans to construct low-income housing structures. The ordinance details the reimbursement of project costs and the City Council's approval process. An Economic Disclosure Statement (EDS) and Affidavit are required, disclosing any financial interests of city officials in the project, as well as details about subcontractors, fees, and compliance with legal obligations. The Disclosing Party must not have any legal violations or be barred from government contracts. The Applicant and its affiliates must not be on any Sanctions List or have criminal offenses related to bribery, theft, or fraud.
Alternate identifiers: O2023-2102
Sponsors
| Sponsor | Ward | |
|---|---|---|
|
Johnson, BrandonPrimary Sponsor |