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OFFICE OF THE MAYOR
CITY OF CHICAGO
LORI E. LTGHTFOOT
MAYOR
May 23, 2022
TO THE HONORABLE, THE CI'I'Y COUNCIL OF THE CITY OF CHICAGO
Ladies and Gentlemen:
At the request of the Commissioner of Housing, I transmit herewith ordinances authorizing the issuance of housing revenue bonds for the rehabilitation and development of affordable housing projects.
Your favorable consideration of these ordinances will be appreciated.
Very truly you
OFFICE OF THE MAYOR
CITY OF CHICAGO
LORI E. LIGHTFOOT
MAYOR
May 23, 2022
TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO
Ladies and Gentlemen:
At the request ofthe Commissioner of Housing, 1 transmit herewith ordinances authorizing the issuance of housing revenue bonds for the rehabilitation and development of affordable housing projects.
Your favorable consideration of these ordinances will be appreciated.
Very truly you
ORDINANCE
WHEREAS, the City of Chicago (the "City"), a home rule unit of government under Section 6(a), Article VII of the 1970 Constitution of the 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 for 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, C40 Preservation Associates Limited Partnership, an Illinois limited partnership (the "Borrower"), intends to acquire the property located at 209 South Kedzie Avenue/3137-57 West Fifth Avenue in the City (the "Property"); and
WHEREAS, the Borrower has proposed to construct a certain low-income housing development and commercial project on the Property consisting of one three-story apartment building that will contain 43 rental dwelling units and approximately 4,500 square feet of commercial space on the grou...
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