Ordinance O2024-0011088 - Chicago Councilmatic

Restructuring of January, 2002 subordinate City HOME Investments Partnership Program mortgage to extend 2032 maturity date and secure new senior loan for Senior Suites Chicago Jefferson Park LLC at 5400 N Northwest Hwy

Auto-generated summary

To combat an affordable housing shortage, Chicago's City Council authorized a loan to Senior Suites Chicago Jefferson Park, LLC. This loan, combined with an Existing Senior Loan, funded a multi-unit residential facility for low-income seniors. The borrower now seeks to refinance, leading to a Restructuring approved by the Department of Housing's Commissioner, further enhancing the city's welfare.

	Sponsor	Ward
	Johnson, BrandonPrimary Sponsor

History

Date

Legislative body

Action

Date 2024-09-18

Legislative body Chicago City Council

Action Passed

On motion of Alderperson Sigcho-Lopez, and unsuccessful motion to reconsider by Alderperson Mitchell, the matter was Passed.

Votes for	Votes against	Other votes
Votes for Yes: 48 Beale, Anthony 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. Mitchell, Gregory I. Mitts, Emma 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 Vasquez, Jr., Andre Villegas, Gilbert Waguespack, Scott Yancy, Desmon C.	Votes against	Other votes Absent: 2 Absent: Burnett, Jr., Walter Absent: Taylor, Jeanette B.

Date 2024-09-11

Legislative body Committee on Housing and Real Estate

Action Recommended to Pass

Date 2024-07-17

Legislative body Chicago City Council

Action Referred

Date 2024-07-17

Legislative body Chicago City Council

Action Introduced

Legislation text

Download PDF

Ordinance O2024-0011088 Passed

Auto-generated summary

Sponsors

History

Legislation text

Additional Documents

Tools