Office of the City Clerk - Record #: O2018-7748

• Record #: O2018-7748
• Type: Ordinance
• Status: Passed
• Intro date: 9/20/2018
• Current Controlling Legislative Body: Committee on Finance
• Final action: 10/31/2018
• Title: Amendment No. 4 to Central West Redevelopment Plan and Project and allocation of Multi-Family Program Funds loan to Warren Ashland LP for purchase of City-owned property at 1527-1533 W Warren Ave and 1548-1554 W Madison St for construction of residential multi-family dwelling units
• Sponsors: Emanuel, Rahm
• Topic: AGREEMENTS - Loan & Security, - FINANCE FUNDS - Multi-Family Program Funds

Date	Journal Page Number	Action By	Action	Result
10/31/2018	86543	City Council	Passed	Pass
9/20/2018	83299	City Council	Referred

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OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
September 20, 2018










TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO


Ladies and Gentlemen:

At the request of the Commissioner of Planning and Development, I transmit herewith an ordinance authorizing execution of a Multi-Family Loan Agreement and associated transactions for Heartland Housing in conjunction with development of Warren Apartments.

Your favorable consideration of this ordinance will be appreciated.

Mayor


Very truly yours,
O R DINANCE


WHEREAS, pursuant to an ordinance adopted by the City Council ("City Council") ofthe City on February 16, 2000, and published at pages 25277 through 25409 in the Journal of Proceedings of the City Council (the "Journal") of such date, a certain redevelopment plan and project (the "Original Redevelopment Plan") for the Central West Redevelopment Project Area (the "Redevelopment Area") was approved pursuant to the Illinois Tax Increment Allocation Redevelopment Act, as amended (65 ILCS 5/11-74.4-1 et seq.) (the "Act") (the "Approval Ordinance"); and

WHEREAS, pursuant to an ordinance adopted by the City Council on February 16, 2000, and published at pages 25410 through 25420 in the Journal of such date, the Redevelopment Area was designated as a "redevelopment project area" pursuant to the Act (the "Designation Ordinance"); and

WHEREAS, pursuant to an ordinance (the "Adoption Ordinance") adopted by the City Council on February 16, 2000, and published at pages 25421 through 25432 in the Journal of such date, tax increment allocation financing was adopted pursuant to the Act as a means of financing certain redevelopment project costs (as defined in the Act) in the Redevelopment Area incurred pursuant to the Original Redevelopment Plan; and

WHEREAS, pursuant to an ordinance adopted by the City Council on March 12, 2008, and published at pages 81982 through 81991 of the Journal of such date, the Central West Redevelopment Project Area was ...