Ordinance O2023-0006388
Passed
Issuance of financial assistance and loan restructuring to Brainerd Senior Preservation LP for acquisition and rehabilitation of building and adjacent facilities located at 8901-8925 S Loomis St
Auto-generated summary
Mayor Johnson's ordinance proposes financial aid and loan restructuring for Brainerd Senior Preservation LP's acquisition and rehabilitation of a 60-unit mixed-income senior citizen multi-family building at 8901-8925 S Loomis St. The restructuring involves a new mortgage with BMO Bank, N.A. and the Illinois Housing Development Authority. The ordinance, tracked by the Office of City Clerk, also includes a $3,200,000 New City Financing for energy efficiency improvements.
Sponsors
| Sponsor | Ward | |
|---|---|---|
|
Johnson, BrandonPrimary Sponsor |