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
Introduction Date: Jan 24, 2024
Final Action Date: Feb 21, 2024
Official record: Office of the City Clerk

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.

Yea (50): 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), Jeylú B. Gutiérrez (14), Raymond A. Lopez (15), 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), Silvana Tabares (23), Monique L. Scott (24), Byron Sigcho-López (25), Jessica L. Fuentes (26), Walter R. Burnett (27), Jason C. Ervin (28), Chris Taliaferro (29), Ruth Cruz (30), Felix Cardona Jr. (31), Scott Waguespack (32), Rossana Rodríguez Sánchez (33), 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), Carlos Ramirez-Rosa (former member)

Plain-language summary

Written by AI (language model) from the ordinance text only. AI can make mistakes; the official document always wins.

Timeline

Jan 24, 2024: Referred, City Council. The matter was Referred to Committee.
Feb 14, 2024: Substituted, Committee on Finance. The matter was substituted.
Feb 21, 2024: Recommended to Pass, Committee on Finance. The matter was recommended to Pass by controlling legislative body.
Feb 21, 2024: Passed, City Council (50 yea, 0 nay), at the City Council meeting. On motion of Alderperson Dowell, and unsuccessful motion to reconsider by Alderperson Mitchell, the matter was Passed.