This decision involves the issuance of a governmental note, construction loan, tax increment financing (TIF) grant, and other financial assistance to Care Manor I LP, along with the execution of a redevelopment agreement. The project involves the acquisition, leasing, construction, and development of affordable residential housing at 4531-4533 and 4549-4555 W Washington Blvd. The City Council passed the final decision on September 18, 2024, following its introduction on July 17, 2024.
This decision plays a vital role in supporting the development of affordable housing in Chicago. It provides the necessary financial resources to ensure the creation of new residential units, helping to address the city's housing needs.