Office of the City Clerk - Record #: O2011-2990

• Record #: O2011-2990
• Type: Ordinance
• Status: Passed
• Intro date: 4/13/2011
• Current Controlling Legislative Body: Committee on Housing and Real Estate
• Final action: 5/4/2011
• Title: Single-Family Program ordinances and associated reprogramming of funds for existing unsold homes and City-owned Midway Village condominium units
• Sponsors: Daley, Richard M.
• Topic: FINANCE FUNDS - Transfer

Date	Journal Page Number	Action By	Action	Result
5/4/2011	117523	City Council	Passed	Pass
4/28/2011		Committee on Housing and Real Estate	Recommended to Pass	Pass
4/13/2011	114369	City Council	Referred

OFFICE OF THE MAYOR
CITY OF CHICAGO
RICHARD M. DALEY
MAYOR
April 13,2011
TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO
Ladies and Gentlemen:
At the request of the Commissioner of Housing and Economic Development, 1 transmit herewith an ordinance amending single family program ordinances and associated reprogramming of funds.
Your favorable consideration of this ordinance will be appreciated.
Very truly yours,


o
ORDINANCE
WHEREAS, the City of Chicago ("City") is a home rule unit of government under Section 6(a), Article VII of the 1970 Constitution of the State of Illinois and may exercise any power related to its local government and affairs; and
r. WHEREAS, the City Council of the City ("City Council"), by ordinance first adopted on June 7, 1990 and published in the Journal of Proceedings of the City Council ("Journal") for such date at pages 17038-17045, has established the New Homes for Chicago Program ("New Homes Program") to assist with the construction of affordable, owner-occupied housing; and
WHEREAS, the City Council, by ordinance first adopted October 2, 1995 and published in the Journal for such date at pages 8086-8089, has also established the City Lots for City Living Program ("City Lots Program") to assist with the construction of affordable, owner-occupied housing; and
WHEREAS, by ordinance adopted April 26, 2006 and published in the Journal for such date at pages 75201-75212 (the "New Homes/City Lots Program Ordinance"), the program ordinances for the New Homes Program and the City Lots Program were amended and restated and combined into a single program ordinance; and .
WHEREAS, the City hasxpreviously issued its Adjustable Rate Demand Revenue Bonds, Series 2000A (HomeStart Program) in the aggregate principal amount of $100,000,000 (the "HomeStart Bonds"); and
WHEREAS, by ordinance adopted July 29, 2003 and published in the Journal for such date at pages 5551-5561 (the "Midway Village Ordinance"), and pursuant to certain agreements ...