Ordinance O2024-0012547
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Restructuring of HOME loan agreement with Renaissance Saint Luke SLF LP for property at 1501 W Melrose St
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The City's Department of Housing has approved a restructuring of the project funded by the HOME Loan. This restructuring will not alter the principal balance or interest rate of the loan, but will require the borrower to pay accrued interest and restructure subsequent interest payments. It is part of the City's ongoing efforts to address the affordable housing shortage.
Sponsors
| Sponsor | Ward | |
|---|---|---|
|
Johnson, BrandonPrimary Sponsor |
History
| Date | Legislative body | Action |
|---|---|---|
| Date 2024-09-18 | Legislative body Chicago City Council | Action Referred |
| Date 2024-09-18 | Legislative body Chicago City Council | Action Introduced |