Record #: O2021-2881   
Type: Ordinance Status: Passed
Intro date: 6/25/2021 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 7/21/2021
Title: Sale of City-owned properties at 600 N Central Park Ave, 636 N Trumbull Ave, 643 N Trumbull Ave, 639 N Trumbull Ave, 637 N Trumbull Ave, 3401 W Fulton Blvd, 428 N Troy St, 625 N Christiana Ave, and 640 N Trumbull Ave to and redevelopment agreement with Nath Construction LLC under City Lots for Working Families Program
Sponsors: Lightfoot, Lori E.
Topic: AGREEMENTS - Redevelopment
Attachments: 1. O2021-2881.pdf
OFFICE OF THE MAYOR
CITY OP CHICAGO
LORI E. IIG UTI'OO'I"


June 25,2021










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


Ladies and Gentlemen:

At the request ofthe Commissioner of Housing, 1 transmit herewith an ordinance authorizing the sale of City-owned property.

Your favorable consideration of this ordinance will be appreciated.


Very truly yoiirj

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, including modifying or eliminating the homebuyer mor...

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