Declaration of official intent to issue tax-exempt multi-family housing revenue bonds to The Ave SW LLC for low-income rental housing project at 3601 and 3613-3625 W Chicago Ave
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The Ave SW LLC, managed by POAH Ave MM LLC, plans a low-income housing development at 3601 and 3613-3625 West Chicago Avenue, with a four-story building, 52 residential units, and 4,000 square feet of commercial space. The City of Chicago, addressing a housing shortage for low and moderate-income individuals, may issue multi-family housing revenue bonds, not exceeding $25,000,000, with interest tax-free. The bonds will finance Eligible Project Costs, reimbursed with Bond Proceeds, as outlined in the ordinance.
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History
| Date |
Legislative body |
Action |
|
2024-05-22
|
Chicago City Council
|
Passed
On motion of Alderperson Dowell, and unsuccessful motion to reconsider by Alderperson Harris, the matter was Passed.
| Votes for |
Votes against |
Other votes |
Yes: 48
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.
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.
|
|
Absent: 2
Absent:
Mitchell, Gregory I.
Absent:
Mitts, Emma
|
|
|
2024-05-13
|
Committee on Finance
|
Recommended to Pass
|
|
2024-03-20
|
Chicago City Council
|
Referred
|
|
2024-03-20
|
Chicago City Council
|
Introduced
|
Legislation text
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