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This record contains private information, which has been redacted from public viewing.
Record #: O2021-3235   
Type: Ordinance Status: Passed
Intro date: 7/21/2021 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 9/14/2021
Title: Sale of City-owned property at 210-212 S Hoyne Ave, 2256 W Monroe St, 2339 W Monroe St, 2654 W Adams St, 3262 W Walnut St and 3264 W Walnut St to Joudeh Investments LLC and MKB Business Strategies LLC under City Lots for Working Families Program
Sponsors: Lightfoot, Lori E.
Topic: PROPERTY - Sale
Attachments: 1. O2021-3235.pdf


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

July 21, 2021










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 properties.

Your favorable consideration of these ordinances will be appreciated.


Very truly yo

Mayor
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, the "Redevelopment Agreement") with an appraised value of $175,000 or less 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, 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, and to adapt program requirements, including modifying or eliminating the homebuyer mortgage set forth in the Program Ordina...

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