Chicago Politics

2024 Affordable Housing and Community Development Borrowing Ordinance

Issuance of general obligation and/or sales tax securitization corporation bonds for economic development and affordable housing programs

Roll call: Passed Apr 19, 2024

32 yea, 17 nay. This was a divided vote. On motion of Alderperson Dowell, and unsuccessful motion to reconsider by Alderperson Mitchell, the matter was Passed. Voted at the City Council meeting of Apr 19, 2024.

Nay (17): Brian Hopkins (2), Anthony Beale (9), Peter Chico (10), Marty Quinn (13), Raymond A. Lopez (15), Silvana Tabares (23), Felix Cardona Jr. (31), Scott Waguespack (32), William Conway (34), Gilbert Villegas (36), Nicholas Sposato (38), Samantha Nugent (39), Anthony V. Napolitano (41), Brendan Reilly (42), Bennett R. Lawson (44), James M. Gardiner (45), Debra L. Silverstein (50)

Yea (28): Daniel La Spata (1), Pat Dowell (3), Lamont J. Robinson (4), Desmon C. Yancy (5), William E. Hall (6), Gregory I. Mitchell (7), Michelle A. Harris (8), Nicole T. Lee (11), Julia M. Ramirez (12), Stephanie D. Coleman (16), David H. Moore (17), Derrick G. Curtis (18), Matthew J. O'Shea (19), Jeanette B. Taylor (20), Ronnie L. Mosley (21), Michael D. Rodriguez (22), Monique L. Scott (24), Jessica L. Fuentes (26), Walter R. Burnett (27), Jason C. Ervin (28), Ruth Cruz (30), Emma Mitts (37), Andre Vasquez Jr. (40), Timothy R. Knudsen (43), Angela Clay (46), Matthew J. Martin (47), Leni Manaa-Hoppenworth (48), Maria E. Hadden (49)

Not voting (1): Chris Taliaferro (29)

Former members who voted: Jeylu B. Gutierrez (Yea), Byron Sigcho-Lopez (Yea), Carlos Ramirez-Rosa (Yea), Rossana Rodriguez Sanchez (Yea)

Plain-language summary

Written by AI (@cf/openai/gpt-oss-120b) from the ordinance text only: First Substitute SO2024-00078838.apr11.pdf. AI can make mistakes; the official document always wins.

The Chicago City Council approved an ordinance that lets the city borrow up to $1.25 billion by issuing general-obligation bonds and another $1.25 billion through additional sales-tax obligations. The money will fund affordable-housing, community-development and related programs across the city.

Money

Who: Residents, non-profit and for-profit organizations, educational and cultural institutions, homeowners, and people experiencing homelessness in Chicago will receive the housing and development benefits, while investors may purchase the bonds.

Where: Chicago

Timeline

Documents