Redevelopment agreement with and issuance of financial assistance to Thrive Exchange LLC for acquisition of City-owned vacant land at 7909 S Exchange Ave for development of low-income furnished housing at 7901-7907 and 7911 S Exchange Ave
- Record number: SO2024-0013072
- Type: Ordinance; category: Agreements
- Status: Final
- Sponsor: Johnson, Brandon
- Committee: Committee on Finance
- Introduced: Oct 9, 2024
- Final action: Dec 2, 2024
- Official record: Office of the City Clerk
Roll call: Passed Dec 2, 2024
48 yea, 0 nay, 2 absent. On motion of Alderperson Dowell, and unsuccessful motion to reconsider by Alderperson Mitchell, the matter was Passed. Voted at the City Council meeting of Dec 2, 2024.
Yea (44): Daniel La Spata (1), Brian Hopkins (2), Pat Dowell (3), Lamont J. Robinson (4), Desmon C. Yancy (5), William E. Hall (6), Gregory I. Mitchell (7), Michelle A. Harris (8), Anthony Beale (9), Peter Chico (10), Nicole T. Lee (11), Julia M. Ramirez (12), Marty Quinn (13), Raymond A. Lopez (15), Stephanie D. Coleman (16), David H. Moore (17), Derrick G. Curtis (18), Matthew J. O'Shea (19), Ronnie L. Mosley (21), Michael D. Rodriguez (22), Silvana Tabares (23), Monique L. Scott (24), Jessica L. Fuentes (26), Jason C. Ervin (28), Chris Taliaferro (29), Ruth Cruz (30), Felix Cardona Jr. (31), Scott Waguespack (32), William Conway (34), Gilbert Villegas (36), Emma Mitts (37), Nicholas Sposato (38), Samantha Nugent (39), Andre Vasquez Jr. (40), Anthony V. Napolitano (41), Brendan Reilly (42), Timothy R. Knudsen (43), Bennett R. Lawson (44), James M. Gardiner (45), Angela Clay (46), Matthew J. Martin (47), Leni Manaa-Hoppenworth (48), Maria E. Hadden (49), Debra L. Silverstein (50)
Absent (2): Jeanette B. Taylor (20), Walter R. Burnett (27)
Former members who voted: Jeylu B. Gutierrez (Yea), Byron Sigcho-Lopez (Yea), Carlos Ramirez-Rosa (Yea), Rossana Rodriguez Sanchez (Yea)
Timeline
- Oct 2, 2024: Held in Committee, Committee on Finance
- Oct 9, 2024: Referred, City Council
- Oct 22, 2024: Recommended for Re-Referral, Committee on Committees and Rules
- Oct 22, 2024: Referred, City Council
- Oct 28, 2024: Recommended to Pass, Committee on Finance
- Oct 29, 2024: Substituted, Committee on Finance
- Dec 2, 2024: Passed, City Council
- Dec 9, 2024: Signed by Mayor, City Council
Documents
- O2024-0013072 EDS.pdf (EDS)
- O2024-0013072 Transmittal Letter.pdf (Miscellaneous)
- O2024-0013072 Original Exhibit E - Revelopment Agreement [Replaced].pdf (Miscellaneous)
- O2024- 0013072 Original Exhibit F - Legal Description.pdf (Miscellaneous)
- O2024-0013972 Original Ordinance.pdf (Miscellaneous)
- O2024-0013072 Original Exhibit C - Borrower Loan Agreement.pdf (Miscellaneous)
- SO2024-0013072 Exhibit A - [Original Retained] Lending plans of loans, TIFs, Grants.pdf (Exhibits)
- SO2024-0013072 Exhibit D - [Now Substituted] Land Use Restriction Agreement Thrive and City.pdf (Exhibits)
- SO2024-0013072 SIGNED BY MAYOR_0644.pdf (Legislation)
- O2024-0013072 Original Exhibit G -Original Request for Proposal Submissions.pdf (Miscellaneous)
- SO2024-0013072 Exhibit B - [Original Retained] Funding Agreement - Wintrust Bank and City.pdf (Exhibits)
- SO2024-0013072 Exhibit G - RFP Submissions.pdf (Exhibits)
- SO2024-0013072 Exhibit C - [Original Retained] Thrive Exchange LLC Borrower Loan Agreement.pdf (Exhibits)
- O2024-0013072 Original Exhibit A - Lending Plan of Loans, TIF & Grants.pdf (Miscellaneous)
- O2024-0013072 Original Exhibit B Wintrust & City Funding Loan Agreement.pdf (Miscellaneous)
- O2024-0013072 Original Exhibit D - Land Use Restriction Agreement [Replaced].pdf (Miscellaneous)
- Substitute SO2024-0013072 Bond Ordinance Thrive Exchange.pdf (Legislation)
- SO2024-0013072 Exhibit E - [Now Substituted] Redevelopment Agreement Thrive Exchange LLC.pdf (Exhibits)
- SO2024-0013072 Exhibit F - [Original Retained] Legal Description.pdf (Exhibits)
- SO2024-0013072 Committee Letter.pdf (Committee Letter)