Ordinance O2023-0001371
Passed
Periodic reallocations of portion of City's tax-exempt private bond cap issued by Illinois Housing Development Authority for housing development projects
Auto-generated summary
Chicago Mayor Brandon Johnson, in consultation with the Housing Commissioner and the City's CFO, proposes an ordinance to the City Council to address the affordable housing shortage. The ordinance authorizes the reallocation of up to $150,000,000 from the city's unused tax-exempt bond volume cap during a specified period for Affordable Housing Developments and Mortgage Assistance Programs, under intergovernmental agreements, with the IHDA's issuance of Tax-Exempt Obligations and approval by the Corporation Counsel.
Alternate identifiers: O2023-2317
Sponsors
| Sponsor | Ward | |
|---|---|---|
|
Johnson, BrandonPrimary Sponsor |