Office of the City Clerk - Record #: O2014-1600

• Record #: O2014-1600
• Type: Ordinance
• Status: Passed
• Intro date: 3/5/2014
• Current Controlling Legislative Body: Committee on Finance
• Final action: 4/2/2014
• Title: Intent for issuance of multi-family housing revenue bonds to Casa Queretaro, LP for construction of low-income housing at S Damen Ave and W 17th St
• Sponsors: Emanuel, Rahm

Date	Journal Page Number	Action By	Action	Result
4/7/2014		City Council	Signed by Mayor
4/2/2014	76724	City Council	Passed	Pass
3/31/2014		Committee on Finance	Recommended to Pass	Pass
3/5/2014	75221	City Council	Referred

CHICAGO April 2.2014 To the President and Members of the City Council: Your Committee on Finance having had under consideration


An ordinance authorizing the City to evidence the City's intent to issue City of Chicago Multi-Family Housing Revenue Bonds (Casa Queretaro Apartments Project).

02014-1600

Amount of Bonds
not to exceed: $8,500,000




Having had the same under advisement, begs leave to report and recommend that your Honorable Body pass the proposed Ordinance Transmitted Herewith
(a (viva voce vote

This recommendation was concurred in by
of members of the committee with dissenting vote(s)T



Respectfully submitted



Chairman
Document No.




REPORT OF THE COMMITTEE ON FINANCE TO THE CITY COUNCIL CITY OF CHICAGO
OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
March 5, 2014










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 ordinance authorizing bond inducement language for the Resurrection Project.

Your favorable consideration of this ordinance will be appreciated.

Mayor

Very truly yours,
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, Casa Queretaro LP, an Illinois limited partnership (the "Borrower"), the General Partner of which is Casa Queretaro Apartments Corporation, NFP, an Illinois not-for-profit corporation, has proposed a certain low-income,housing development project consisting of the acquisition of rea...