Ordinance O2024-0008341
Passed
Loan restructuring agreement with Warren Ashland, LP for acquisition of land and construction of buildings at 1533 W Warren Blvd, 3 N Ashland Ave and 11 N Ashland Ave
Auto-generated summary
Chicago's City Council used HOME Program funds for a $4,250,000 loan to Warren Ashland, LP, for Warren Apartments. After Heartland Housing, Inc.'s default, AHS Warren Ashland, LLC, a subsidiary of Affordable Housing Solutions, Inc., took over. The Department of Housing now administers the funds and a proposed change would replace the current general partner with POAH Warren Ashland LLC, a subsidiary of Preservation of Affordable Housing, Inc.
Sponsors
| Sponsor | Ward | |
|---|---|---|
|
Johnson, BrandonPrimary Sponsor |