Office of the City Clerk - Record #: O2020-5179

• Record #: O2020-5179
• Type: Ordinance
• Status: Passed
• Intro date: 10/7/2020
• Current Controlling Legislative Body: Committee on Housing and Real Estate
• Final action: 11/16/2020
• Title: Sale of City-owned property at 1138 N Christiana Ave, 1142 N Christiana Ave, 1702 N Monticello Ave, 3724 W LeMoyne St, 3331 W LeMoyne St, and parcel commonly known as 2341 W Erie St to L&MC Investments LLC for affordable home redevelopment purposes
• Sponsors: Lightfoot, Lori E.
• Topic: PROPERTY - Sale

Date	Journal Page Number	Action By	Action	Result
11/16/2020	22412	City Council	Passed	Pass
10/22/2020		Committee on Housing and Real Estate	Recommended to Pass
10/7/2020	21073	City Council	Referred

OFFICE OF THE MAYOR
CITY OF CHICAGO
LORI E. LIGHTFOOT
MAYOR

October 7, 2020










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


Ladies and Gentlemen:

At the request ofthe Commissioner of Housing, I transmit herewith ordinances authorizing the sale of City-owned property.

Your favorable consideration of these ordinances will be appreciated.

ORDINANCE

WHEREAS, The City of Chicago (the "City") is a home rule unit of government pursuant to Article VII, Section 6(a) of the 1970 State of Illinois Constitution and may exercise any power related to its local governmental affairs; and

WHEREAS, The City Council of the City (the "City Council"), by ordinance first adopted on November 8, 2017 ("Program Ordinance") and published in the Journal of Proceedings of the City Council (the "Journal") for such date at pages 59287 through 59295, established the City Lots for Working Families Program ("City Lots Program"), to assist with the construction of high-quality, owner-occupied single-family housing affordable to working families; and

WHEREAS, The Program Ordinance authorizes the Department of Housing ("DOH") to (a) sell City Lots (this capitalized term and all others not otherwise defined herein are defined in the Redevelopment Agreement attached hereto as Exhibit B) with an appraised value of $175,000 or less (the "Eligibility Cap") for $1 per City Lot to approved developers of projects that meet certain development parameters; (b) exempt such projects from MBE/WBE Requirements and City Residency Hiring Requirements if all City Lots within such project have an appraised value of $125,000 or less (the "Exemption Cap"), and (c) waive certain City fees for such projects; and

WHEREAS, The City Lots Program further authorizes DOH to permit the sale of up to twenty-five percent (25%) of the homes in a project at market rates (the "Market Rate Option"), and to adapt program requirements for use in connection with the Chicago Community Land Trust ("CCLT"),...