Ordinance O2024-0010987
Passed
Development of fifty low to moderate-income rental units, parking, common areas at 1800 S Michigan Ave financed with private, city, federal loans supported by syndicated tax credit assistance to MHL 3 Prairie District Apartments Michigan GP-LLC entities, Mercy Housing Lakefront entities
Auto-generated summary
To address affordable rental housing shortage, the City of Chicago's DOH approved a $3,903,528 loan from Multi-Family Program Funds to MHL 3 Prairie District Apartments-Michigan LP, managed by Mercy Housing Lakefront. The Commissioner of Housing is authorized to execute agreements and disburse the loan. The ordinance takes precedence if in conflict with other provisions, effective from its passage date.
Sponsors
| Sponsor | Ward | |
|---|---|---|
|
Johnson, BrandonPrimary Sponsor |
History
Legislation text
Additional Documents
- O2024-00 10987 1800 S Michigan Ave.pdf
- O2024-0010987 Committee Letter.pdf
- O2024-0010987 EDS.pdf
- O2024-0010987 Exhibit A - Financial Assistance.pdf
- O2024-0010987 Mayoral Letter.pdf