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This record contains private information, which has been redacted from public viewing.
Record #: O2022-427   
Type: Ordinance Status: Passed
Intro date: 1/26/2022 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 2/23/2022
Title: Reconveyance to City of 17 lots from Revere Community Housing Development LLC and transfer to Habitat for Humanity Chicago for affordable housing development in area of E 72nd St on S Woodlawn Ave, S University Ave, S Dobson Ave, S Greenwood Ave and E 69th St
Sponsors: Lightfoot, Lori E.
Topic: PROPERTY - Transfer
Attachments: 1. O2022-427.pdf
OFFICE OF THE MAYOR
CITY OF CHICAGO
LORI E. LIGHTFOOT
MAYOR

January 26,2022










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


Ladies and Gentlemen:

At the request of the Commissioner of Housing, 1 transmit herewith an ordinance authorizing the transfer of seventeen lots from Revere Community Housing Development to Habitat for Humanity Chicago for affordable housing development.

Your favorable consideration of this ordinance will be appreciated.


Very truly yours,

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, Pursuant to ordinances adopted by the City Council of the City (the "City Council") on December 14, 2005, and published in the Journal of Proceedings of the City Council (the "Journal") for such date at pages 66932 through 67039 and on May 14,2008, and published in the Journal for such date at pages 27274 through 27287 (together the "Ordinances"), the City Council approved the sale of property, including all of the property listed on Exhibit A attached hereto (the "Property") to Revere Community Housing Development, L.L.C, an Illinois limited liability company ("RCHD"); and

WHEREAS, Pursuant to the Ordinances, RCHD has invested approximately $15 million in the construction, sale, and homebuyer subsidies for approximately 65 single family homes ("Homes"), including 31 Homes that were sold at affordable prices to households whose annual income at the time of purchase was less than 120% of the area median income; and

WHEREAS, RCHD is no longer a home builder and desires to sell a portion of the Property, the 17 lots listed on Exhibit A attached hereto (and labelled the "HFH Lots") to Habitat for Humanity Chicago, an Illinois not-for-profit corporation (and together with any single purpose entity owned and controlled by it, the "Develop...

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