# City financial assistance with Tax Increment Financing (TIF) funds, multi-family housing loans and revenue bonds to Parkside Phase III, LP, Cabrini Green LAC Community Dev. Corp., Holsten Real Estate Dev. Corp. for acquisition, construction and operation of low, moderate, and unrestricted income residential complex at 500-520 W Hobbie St, 542, 588-576 W Elm St, 1101-1129 N Cambridge Ave and 1100-1128 N Cleveland Ave

- Record number: **SO2024-0007326**
- Type: Ordinance; category: Bonds & Bond Issues
- Status: Final
- Sponsor: Johnson, Brandon
- Committee: Committee on Finance
- Introduced: Jan 24, 2024
- Final action: Feb 21, 2024
- Official record: [Office of the City Clerk](https://chicityclerkelms.chicago.gov/Matter/?matterId=E87F9B26-37BA-EE11-A568-001DD8069864)

## Roll call: Passed Feb 21, 2024

**50 yea, 0 nay.** On motion of Alderperson Dowell, and unsuccessful motion to reconsider by Alderperson Mitchell, the matter was Passed. Voted at the [City Council meeting of Feb 21, 2024](https://www.chicagopolitics.org/meeting/BEF8F039-3DCC-EE11-9078-001DD806E058).

**Yea (49)**: [Daniel La Spata](https://www.chicagopolitics.org/ward/1) (1), [Brian Hopkins](https://www.chicagopolitics.org/ward/2) (2), [Pat Dowell](https://www.chicagopolitics.org/ward/3) (3), [Lamont J. Robinson](https://www.chicagopolitics.org/ward/4) (4), [Desmon C. Yancy](https://www.chicagopolitics.org/ward/5) (5), [William E. Hall](https://www.chicagopolitics.org/ward/6) (6), [Gregory I. Mitchell](https://www.chicagopolitics.org/ward/7) (7), [Michelle A. Harris](https://www.chicagopolitics.org/ward/8) (8), [Anthony Beale](https://www.chicagopolitics.org/ward/9) (9), [Peter Chico](https://www.chicagopolitics.org/ward/10) (10), [Nicole T. Lee](https://www.chicagopolitics.org/ward/11) (11), [Julia M. Ramirez](https://www.chicagopolitics.org/ward/12) (12), [Marty Quinn](https://www.chicagopolitics.org/ward/13) (13), [Jeylú B. Gutiérrez](https://www.chicagopolitics.org/ward/14) (14), [Raymond A. Lopez](https://www.chicagopolitics.org/ward/15) (15), [Stephanie D. Coleman](https://www.chicagopolitics.org/ward/16) (16), [David H. Moore](https://www.chicagopolitics.org/ward/17) (17), [Derrick G. Curtis](https://www.chicagopolitics.org/ward/18) (18), [Matthew J. O'Shea](https://www.chicagopolitics.org/ward/19) (19), [Jeanette B. Taylor](https://www.chicagopolitics.org/ward/20) (20), [Ronnie L. Mosley](https://www.chicagopolitics.org/ward/21) (21), [Michael D. Rodriguez](https://www.chicagopolitics.org/ward/22) (22), [Silvana Tabares](https://www.chicagopolitics.org/ward/23) (23), [Monique L. Scott](https://www.chicagopolitics.org/ward/24) (24), [Byron Sigcho-López](https://www.chicagopolitics.org/ward/25) (25), [Jessica L. Fuentes](https://www.chicagopolitics.org/ward/26) (26), [Walter R. Burnett](https://www.chicagopolitics.org/ward/27) (27), [Jason C. Ervin](https://www.chicagopolitics.org/ward/28) (28), [Chris Taliaferro](https://www.chicagopolitics.org/ward/29) (29), [Ruth Cruz](https://www.chicagopolitics.org/ward/30) (30), [Felix Cardona Jr.](https://www.chicagopolitics.org/ward/31) (31), [Scott Waguespack](https://www.chicagopolitics.org/ward/32) (32), [Rossana Rodríguez Sánchez](https://www.chicagopolitics.org/ward/33) (33), [William Conway](https://www.chicagopolitics.org/ward/34) (34), [Gilbert Villegas](https://www.chicagopolitics.org/ward/36) (36), [Emma Mitts](https://www.chicagopolitics.org/ward/37) (37), [Nicholas Sposato](https://www.chicagopolitics.org/ward/38) (38), [Samantha Nugent](https://www.chicagopolitics.org/ward/39) (39), [Andre Vasquez Jr.](https://www.chicagopolitics.org/ward/40) (40), [Anthony V. Napolitano](https://www.chicagopolitics.org/ward/41) (41), [Brendan Reilly](https://www.chicagopolitics.org/ward/42) (42), [Timothy R. Knudsen](https://www.chicagopolitics.org/ward/43) (43), [Bennett R. Lawson](https://www.chicagopolitics.org/ward/44) (44), [James M. Gardiner](https://www.chicagopolitics.org/ward/45) (45), [Angela Clay](https://www.chicagopolitics.org/ward/46) (46), [Matthew J. Martin](https://www.chicagopolitics.org/ward/47) (47), [Leni Manaa-Hoppenworth](https://www.chicagopolitics.org/ward/48) (48), [Maria E. Hadden](https://www.chicagopolitics.org/ward/49) (49), [Debra L. Silverstein](https://www.chicagopolitics.org/ward/50) (50)

Former members who voted: Carlos Ramirez-Rosa (Yea)

## Timeline

- Jan 24, 2024: Referred, City Council
- Feb 14, 2024: Substituted, Committee on Finance
- Feb 21, 2024: Recommended to Pass, Committee on Finance
- Feb 21, 2024: Passed, City Council

## Documents

- [EDS Parkside Phase III Financial Assistance\_0232\_Redacted.pdf](https://www.chicagopolitics.org/files/clerk/matterattachmentspublic/0118ede0-3c09-4b16-bd6d-5f3595475724.pdf) (EDS)
- [SO2024-0007326 Committee Letter.pdf](https://www.chicagopolitics.org/files/clerk/matterattachmentspublic/e3074bf0-75af-4eaf-a05c-4149eae39d87.pdf) (Committee Letter)
- [Substitute Redev Agree Exh A Legal Desc SO2024-0007326.pdf](https://www.chicagopolitics.org/files/clerk/matterattachmentspublic/a35428e8-ff0d-4afb-a072-2db7e22d4506.pdf) (Exhibits)
- [Original Legislation Exhibit A O2024-0007326.pdf](https://www.chicagopolitics.org/files/clerk/matterattachmentspublic/5a713e16-65c1-491e-ba0c-29879c493ee4.pdf) (Miscellaneous)
- [O2024-0007326 Original Ordinance.pdf](https://www.chicagopolitics.org/files/clerk/matterattachmentspublic/669d9afa-ee5d-4c65-8db6-71b6569a0bc1.pdf) (Miscellaneous)
- [Substitute Ord Exhibit B Redev Agreement SO2024-0007326.pdf](https://www.chicagopolitics.org/files/clerk/matterattachmentspublic/fe916aa2-ef42-4c1c-81a5-77126e9507f5.pdf) (Exhibits)
- [Substitute Redev Agree Exh B Project Budget SO2024-0007326.pdf](https://www.chicagopolitics.org/files/clerk/matterattachmentspublic/0baa505b-7312-40ae-b535-76cff76cb3d8.pdf) (Exhibits)
- [Substitute Redev Agree Exh C Requisition Form SO2024-0007326.pdf](https://www.chicagopolitics.org/files/clerk/matterattachmentspublic/026b1ba1-8c22-40b8-8b63-32138d2b9e27.pdf) (Exhibits)
- [Substiitute Redev Agree Exh D OMITTED.pdf](https://www.chicagopolitics.org/files/clerk/matterattachmentspublic/349af76d-bbe5-4afe-8a20-3dd3f1290a87.pdf) (Exhibits)
- [Substitute Ordinance SO2024-0007326.pdf](https://www.chicagopolitics.org/files/clerk/matterattachmentspublic/480ead43-d34d-4eb8-b3a1-9b8ed74bf9e1.pdf) (Legislation)
- [Original Legislation Exhibit B O2024-0007326.pdf](https://www.chicagopolitics.org/files/clerk/matterattachmentspublic/069a2755-5a70-4fe0-90fe-2a6870e3a81c.pdf) (Miscellaneous)
- [Substitute Ord Exh A Finance Sources SO2024-0007326.pdf](https://www.chicagopolitics.org/files/clerk/matterattachmentspublic/e43a47c6-62d4-4ed4-9b6b-c1ae546232ac.pdf) (Exhibits)
- [SO2024-0007326 Cover Sheet.pdf](https://www.chicagopolitics.org/files/clerk/matterattachmentspublic/0a51eb22-78e1-4bd8-9057-06c97681e7a2.pdf) (Exhibits)

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Source: https://www.chicagopolitics.org/matter/E87F9B26-37BA-EE11-A568-001DD8069864 · Chicago Politics, an independent, nonpartisan tracker of the Chicago City Council. Guide for agents: https://www.chicagopolitics.org/llms.txt