Ordinance O2024-0007868
Passed
Authorization of loan restructuring agreement with Hollywood House Limited Partnership for rehabilitation of building at 5700 N Sheridan Rd
Auto-generated summary
Chicago Mayor Brandon Johnson proposes a loan restructuring for Hollywood House Limited Partnership, which received a $4,500,000 loan and tax increment financing for the Hollywood House Apartments. The restructuring, necessitated by financial difficulties, involves a change in ownership to FCC Hollywood House GP, LLC, but maintains the loan's principal amount, interest rate, and repayment terms.
