Office of the City Clerk - Record #: O2022-2978

• Record #: O2022-2978
• Type: Ordinance
• Status: Passed
• Intro date: 9/21/2022
• Current Controlling Legislative Body: Committee on Finance
• Final action: 9/21/2022
• Title: Redevelopment agreement with and issuance of various financial assistance for Austin United Alliance Development Co. LLC for construction of mixed-income housing at 5204-5224 W Chicago Ave
• Sponsors: Dept./Agency
• Topic: AGREEMENTS - Redevelopment

Date	Journal Page Number	Action By	Action	Result
9/21/2022	51732	City Council	Passed	Pass
9/19/2022		Committee on Finance	Recommended to Pass
9/19/2022		Committee on Finance	Direct Introduction

CHICAGO September 21. 2022

To the President and Members of the City Council:

Your Committee on Finance having had under consideration a communication recommending a proposed ordinance concerning a Tax Increment Financing Developer Designation and Redevelopment Agreement, the conveyance of a City-owned parcel, and the issuance of a Department of Housing loan or grant agreement to Austin United Alliance Development Company LP, for construction of mixed-income housing located at 5204-5224 West Chicago Avenue, in the 37lh wards.

Direct Introduction
TIF Amount: Up to $12,900,000
DoH Loan/Grant: Up to $10,000,000















Having had the same under advisement, begs leave to report and recommend that your Honorable Body pass the proposed


This recommendation was concurred in by viva voce vote of members of the
committee with|99|dissenting vote(s).



Respectfully submitted,



(signed)

Chairman

DEPARTMENT OF HOUSING CITY OF CHICAGO





September 19, 2022


TO THE HONORABLE, THE CHAIRMAN AND

MEMBERS OF THE CITY COUNCIL COMMITTEE ON FINANCE


Ladies and Gentlemen:


I transmit herewith an ordinance authorizing the issuance of financial assistance for the Austin United Alliance development project.

Your favorable consideration of this ordinance will be appreciated.



Very truly yours,


Marisa Novara Housing Commissioner
















121 NORTH LASALLE STREET, ROOM 1000. CHIC AGO, ILLINOIS 60602

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 to 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, the City ...