Funding loan notification of Multi-Family Housing Revenue Notes (C40 Garfield Park), Series 2023
The letter to Andrea M. Valencia, the Chicago City Clerk, details the Multi-Family Housing Revenue Note (C40 Garfield Park), Series 2023, with a principal amount of $20,000,000. The Funding Loan Agreement, signed by the Chief Financial Officer, is between the City and BMO Harris Bank, with proceeds lent to C40 Preservation Associates Limited Partnership. The 5-year Borrower Loan Agreement includes a 1.5% origination cost, a maximum 12% interest rate, and $130,000 compensation to the Funding Lender, as authorized by the January 18, 2023 ordinance.
Alternate identifiers: F2023-119