Ordinance O2024-0011090 - Chicago Councilmatic

Restructuring of June, 2016 City HOME Investments Partnership Program mortgage to extend 2026 maturity date and secure new senior loan for Senior Suites Chicago South Shore Limited Partnership at 2345-2361 E 67th St

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Chicago combated affordable housing shortage with a $4,834,718 loan to Senior Suites Chicago South Shore Limited Partnership, funded by the HOME Investment Partnerships Program. The loan, extended to October 1, 2026, financed a multi-unit facility at 2345-61 East 67th Street. The borrower's request for further extension led to loan restructuring, authorized by the Commissioner of Housing. The ordinance, overriding conflicting Municipal Code provisions, is effective upon passage and approval.

	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

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Ordinance O2024-0011090 Passed

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