Committee on Finance
TL;DR
The Chicago Finance Committee approved multiple ordinances focused on affordable housing, urban development, and community improvements. These measures include providing financial support for housing projects across various city neighborhoods and allocating TIF funds for park renovations and cultural center improvements.
Key Decisions
- Affordable Housing Loan Assistance at 43rd and Prairie Recommended to Pass
- Multi-Family Housing Revenue Bonds for Low-Income Housing Recommended to Pass
- Tax Increment Financing (TIF) Funds for Park District Renovations Recommended to Pass
- Redevelopment Agreement for German American Cultural Center Recommended to Pass
- Fee Exemptions for Public and Governmental Building Projects Recommended to Pass
Agenda
- Attendance
- Approval of Rule 45 Report
- 1 Loan assistance to 43rd and Prairie Phase II LP for acquisition of City-owned property and redevelopment as affordable housing and commercial space at 4309-4311 S Prairie AveOrdinanceAction: Recommended to Pass
The Ordinance was Recommended to Pass.
- 2 Issuance of multi-family housing revenue bonds and other financial assistance to Mercy Housing Lakefront for acquisition of property and development of low-income housing at 1801 S Wabash AveOrdinanceAction: Recommended to Pass
The Ordinance was Recommended to Pass.
- 3 Redevelopment agreement with and issuance of multi-family housing revenue bonds or notes for Preservation of Affordable Housing, Inc., Levy House Preservation Associates LP, POAH Levy House GP for rehabilitation of low-income senior housing at 1221 W Sherwin AveOrdinanceAction: Recommended to Pass
The Ordinance was Recommended to Pass.
- 4 Correction of Sixty-second amending agreement with SomerCor, Inc. for provision of additional grant funds for 119th/Halsted Redevelopment Project AreaOrdinanceAction: Recommended to Pass
The Ordinance was Recommended to Pass.
- 5 Redevelopment agreement with and allocation of Tax Incremental Financing (TIF) funds to German American National Congress Chapter Chicago - North, and D.A.N.K. House d.b.a. DANK Haus German American Cultural Center for completion of certain improvements to building at 4740 N Western AveOrdinanceAction: Recommended to Pass
The Ordinance was Recommended to Pass.
- 6 Redevelopment agreement with and provision of Neighborhood Opportunity Funds to Juan and Only LLC for development of restaurant, catering and shared event space at 5924 W Chicago Ave and 5926 W Chicago AveOrdinanceAction: Recommended to Pass
The Ordinance was Recommended to Pass.
- 7 Intergovernmental agreement with Chicago Park District for allocation of Tax Increment Financing (TIF) funds for renovatIon of Clarendon Park fieldhouse at 4532-4534 and 4538 N Clarendon AveOrdinanceAction: Recommended to Pass
The Ordinance was Recommended for Re-Referral .
- 8 Intergovernmental agreement with Chicago Park District for allocation of Tax Increment Financing (TIF) funds for landscaping and facility improvements at Cragin Park, 2611 N Lockwood AveOrdinanceAction: Recommended to Pass
The Ordinance was Recommended to Pass.
- 9 Intergovernmental agreement with Chicago Park District for allocation of Tax Increment Financing (TIF) funds for expansion of park boundaries and improvements at Kells (George) Park, 3201 W Chicago AveOrdinanceAction: Recommended to Pass
The Ordinance was Recommended to Pass.
- 10 First amendment of intergovernmental agreement with Chicago Park District ordinance to increase maximum available Tax Incremental Financing (TIF) funds for renovation of Riis Park fieldhouse at 6100 W Fullerton AveOrdinanceAction: Recommended to Pass
The Ordinance was Recommended to Pass.
- 11 Fee exemptions, no-fee permits and associated fee waivers for all applications filed by Chicago Building Commission or its contractors for associated buildings, facilities and projects used for public or governmental purposes with quarterly reporting of waivers to Office of Budget and ManagementOrdinanceAction: Recommended to Pass
The Ordinance was Recommended to Pass.