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Record #: O2011-9767   
Type: Ordinance Status: Passed
Intro date: 12/14/2011 Current Controlling Legislative Body: Committee on Finance
Final action: 1/18/2012
Title: Intent for issuance of housing revenue bonds for Bronzeville Associates Senior Apts.
Sponsors: Emanuel, Rahm
Attachments: 1. O2011-9767.pdf
CHICAGO January 18. 2012

To the President and Members of the City Council:

Your Committee on Finance having had under consideration

An ordinance which would evidence the City's intent to issue City of Chicago Multi-Family Housing Revenue Bonds (Bronzville Associates Senior Apartments Project).
02011-9767

Amount of Bonds
not to exceed $ 10,000,000
















Having had the same under advisement, begs leave to report and recommend that your Honorable Body pass the proposed
Ordinance Transmitted Herewith
This recommendation was concurred in by (a(ylva Voce vote")
of members of the committee with dissenting vote(s)T-
Alderman Burke abstains from voting pursuant to Rule 14.

Chairman




Respectfully submitted

Document No.



i
REPORT OF THE COMMITTEE ON FINANCE
i TO THE CITY COUNCIL
CITY OF CHICAGO
OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
December 14,2011










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


Ladies and Gentlemen:

At the request ofthe Commissioner of Housing and Economic Development, I transmit herewith an ordinance authorizing an intent to issue housing revenue bonds for Bronzeville Associates Senior Apartments.

Your favorable consideration of this ordinance will be appreciated.

Mayor

Very truly yours,
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ORDINANCE

WHEREAS, the City of Chicago (the "City"), a home rule unit of government under Section 6(a), Article VII of the 1970 Constitution of the State of Illinois, has heretofore found and does hereby find that there exists within the City a serious shortage of decent, safe and sanitary rental housing available for persons of low and moderate income; and
WHEREAS, the City has determined that the continuance of a shortage of affordable rental housing is harmful to the health, prosperity, economic stability and general welfare of the City; and
WHEREAS, Bronzeville Associates Senior Apartments Limited Partnership, an Illinois limited partnership (the "Developer"), has proposed a certain low-income...

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