Ordinance O2024-0009604
Passed
Issuance of tax-exempt multi-family housing revenue bonds to 111 W Monroe LLC for mixed-income rental housing project at 111 W Monroe St
Auto-generated summary
Chicago's ordinance, involving 111 W Monroe, LLC and stakeholders including MWR Holdings, Capri Investor LLC, Michael W. Reschke, Primo Investor, LLC, Quintin E. Primo III, and Primo 2012 Descendants Trust, addresses affordable housing shortage at a property at 111 West Monroe Street. A 345-unit mixed housing project, with 105 affordable rentals, is proposed. The city plans to issue $88,000,000 in multi-family housing revenue bonds, with interest excluded from gross income, to finance part of the project costs and reimburse eligible project costs.
Sponsors
| Sponsor | Ward | |
|---|---|---|
|
Johnson, BrandonPrimary Sponsor |