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CHICAGO November 19, 2014 To the President and Members of the City Council: Your Committee on Finance having had under consideration
A communication recommending a proposed ordinance concerning the authority to enter into and execute a Redevelopment Agreement and the approval of an associated Donation of Tax Credits for West Side Village Phase IV Limited Partnership.
02014-8929
Amount of the Multi-Family Loans not to exceed: $2,876,019
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 (viva voce vote
of members of the committee with dissenting vote(s)
Respectfully submitted
(signed^ ^ ^ ^ .XV^-.^
/
Chairman
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Document No.
REPORT OF THE COMMITTEE ON FINANCE TO THE CITY COUNCIL CITY OF CHICAGO
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OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
November 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 an ordinance authorizing the execution of a redevelopment agreement, and associated loan and tax credits, for West Side Village Phase VI, LP.
Your favorable consideration of this ordinance will be appreciated.
Mayor
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Very truly yours,
ORDINANCE
WHEREAS, the City of Chicago (the "City"), a home rule unit of government under Section 6(a), Article VII ofthe 1970 Constitution ofthe 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 to 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, the City has certain funds available from a variety of funding so...
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