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This record contains private information, which has been redacted from public viewing.
Record #: O2022-3579   
Type: Ordinance Status: Passed
Intro date: 10/26/2022 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 11/16/2022
Title: Amendment of redevelopment agreement with Joudeh Investments LLC and MKB Business Strategies LLC for lot replacement under Working Families Ordinance
Sponsors: Lightfoot, Lori E.
Topic: AGREEMENTS - Redevelopment, - PROPERTY - Sale
Attachments: 1. O2022-3579.pdf
OFFICE OF THE MAYOR
CITY OF CHICAGO
LORI E. LIGHTFOOT MAYOR
October 26. 2022










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


Ladies and Gentlemen:

At the request ofthe Commissioner of Housing, I transmit herewith an ordinance authorizing an amendment to a City Lois for Working Families ordinance to replace a lot.

Your favorable consideration ofthis ordinance will be appreciated.


Very truly yours.

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 (as defined in the Program Ordinance) 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 Ordinance; and

WHEREAS, pursuant to ordinances adopted on (i) February 16, 2000, as amended on ...

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