Summary

Committee on Housing and Real Estate meeting summary

ChicagoJun 10, 20263 min read

At a glance

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Committee approved numerous city property sales and leases, passed two low-affordability community designations, and held a proposed amendment on Low Income Housing Tax Credit allocation requirements.

Committees mentioned

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Committee on Housing and Real Estate

Topics discussed

Housing

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What this means

The committee approved sales and leases for many city-owned properties (some sold for nominal $1 under the ChiBlockBuilder platform, others at market rates), including a $19.2 million purchase agreement for 630 W Harrison St and a $2.75 million sale at 4512 S Halsted St. Two addresses were designated as Low-Affordability Communities, a classification that may affect how those sites are treated for future housing programs and development. A proposed change to rules for Low Income Housing Tax Credit allocation plans was held in committee, so no change to that policy was made at this meeting.

Key decisions

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Held in committee: proposed amendment to Municipal Code Chapter 2-44 to add Section 2-44-170 regarding requirements for Low Income Housing Tax Credit Qualified Allocation plans (introduced by Alderman Martin).
Passed: designation of 3611–3625 N Halsted St as a Low-Affordability Community (46th Ward).
Passed: designation of 3231 N California Ave / 2752–2762 W Melrose St as a Low-Affordability Community (35th Ward).
Passed: purchase and sale agreement with GH Chicago IL LLC for 630 W Harrison St (34th Ward) — Purchase Price $19.2 million.
Passed: assignment/assumption and amendment of leases with North Park Village Campus for 5801 N Pulaski Rd (Senate and Prete Apartments) (39th Ward).
Passed: lease agreement with Logan Square Preservation for 2420 N Sacramento Ave (35th Ward).
Passed: multiple sales of City-owned properties under the ChiBlockBuilder platform (various wards), including several $1-per-lot transfers and several market-rate sales (detailed list of addresses and prices in the official report).
Passed: direct introduction amending ordinance O2018-9027 to correct parcel and clerical errors (25th Ward).

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Meeting information

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