Amendment No. 3 to Imani Senior Village Phase 1 LLC Redevelopment at 9621 S Cottage Grove Ave, replacing Exhibit A, previously amended, now modifying Housing and Urban Development (HUD) loan term and interest rate
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Chicago's amendment to the Imani Village Senior Residences' HUD loan term and interest rate addresses affordable housing shortage. The Original Ordinance authorized a loan, tax increment financing, and a redevelopment agreement with Imani Senior Village Phase 1 LLC for 70 units. The 4st Amended Ordinance corrected omissions, updated the address, extended the Redevelopment Agreement, acknowledged changing market conditions, updated City assistance, additional financing, and replaced Exhibit A, with the ordinance effective upon its passage and approval.
History
| Date |
Legislative body |
Action |
|
2023-11-02
|
Chicago City Council
|
Signed
|
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2023-11-01
|
Chicago City Council
|
Passed
On motion of Alderperson Dowell, and unsuccessful motion to reconsider by Alderperson Mitchell, the matter was Passed.
| Votes for |
Votes against |
Other votes |
Yes: 50
Beale, Anthony
Burnett, Jr., Walter
Cardona, Jr., Felix
Chico, Peter
Clay, Angela
Coleman, Stephanie D.
Conway, William
Cruz, Ruth
Curtis, Derrick G.
Dowell, Pat
Ervin, Jason C.
Fuentes, Jessica L.
Gardiner, James M.
Gutierrez, Jeylu B.
Hadden, Maria E.
Hall, William E.
Harris, Michelle A.
Hopkins, Brian
Knudsen, Timothy R.
La Spata, Daniel
Lawson, Bennett R.
Lee, Nicole T.
Lopez, Raymond A.
Manaa-Hoppenworth, Leni
Martin, Matthew J.
Mitchell, Gregory I.
Mitts, Emma
Moore, David H.
Mosley, Ronnie L.
Napolitano, Anthony V.
Nugent, Samantha
O'Shea, Matthew J.
Quinn, Marty
Ramirez, Julia M.
Ramirez-Rosa, Carlos
Reilly, Brendan
Robinson, Lamont J.
Rodriguez Sanchez, Rossana
Rodriguez, Michael D.
Scott, Monique L.
Sigcho-Lopez, Byron
Silverstein, Debra L.
Sposato, Nicholas
Tabares, Silvana
Taliaferro, Chris
Taylor, Jeanette B.
Vasquez, Jr., Andre
Villegas, Gilbert
Waguespack, Scott
Yancy, Desmon C.
|
|
|
|
|
2023-10-31
|
Committee on Finance
|
Recommended to Pass
|
|
2023-10-31
|
Chicago City Council
|
Introduced
|
Legislation text
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