Share to Facebook Share to Twitter Bookmark and Share
File #: 16-3985    Version: 1 Name: Approval of sale/donation of Condominium at 13705 Steward Ave #3, Riverdale, Illinois
Type: Miscellaneous Item of Business Status: Filed
File created: 6/20/2016 In control: Workforce, Housing & Community Development Committee
On agenda: 10/5/2016 Final action: 11/21/2018
Title: PROPOSED SALE OR PURCHASE OF REAL ESTATE Department(s): Department of Planning and Development Other Part(ies): Social Service Agency that assists with shelter, or a qualified low income individual Request: Approval of sale/donation of Condominium at 13705 Steward Ave #3, Riverdale, Illinois Description of Real Estate: The property is a 2 bedroom condominium in the Riverwoods Complex Section: N/A Parcel(s): 25-33-316-012-1030 Fiscal Impact: None Accounts: 753-0901 NSP 1 Summary: Transmitted herewith is a request for the transfer of one condominium purchased by Cook County under the auspices of the Neighborhood Stabilization Program (NSP) to eligible and qualified buyer for project completion. This property was initially purchased prior to 12/1/2010 by Cook County through the Department of Planning and Development in accordance with a 1/12/2010 Board approved initiative that permitted the purchase and redevelopment of NSP eligible vacant, abandoned and fo...
Indexes: (inactive) MICHAEL JASSO, Chief, Bureau of Economic Development
title
PROPOSED SALE OR PURCHASE OF REAL ESTATE

Department(s): Department of Planning and Development

Other Part(ies): Social Service Agency that assists with shelter, or a qualified low income individual

Request: Approval of sale/donation of Condominium at 13705 Steward Ave #3, Riverdale, Illinois

Description of Real Estate: The property is a 2 bedroom condominium in the Riverwoods Complex

Section: N/A

Parcel(s): 25-33-316-012-1030

Fiscal Impact: None

Accounts: 753-0901 NSP 1

Summary: Transmitted herewith is a request for the transfer of one condominium purchased by Cook County under the auspices of the Neighborhood Stabilization Program (NSP) to eligible and qualified buyer for project completion.

This property was initially purchased prior to 12/1/2010 by Cook County through the Department of Planning and Development in accordance with a 1/12/2010 Board approved initiative that permitted the purchase and redevelopment of NSP eligible vacant, abandoned and foreclosed homes throughout suburban Cook County. In accordance with said approval, Cook County acquired 13705 Stewart Ave #3 in Riverdale, Illinois, which was formerly real estate owned (REO) property.

To date the Department of Planning and Development has been unable to sell this property and in order to close out the NSP grant, authority is hereby requested to transfer this property to a Social Service Agency that assists with shelter or a not-for-profit entity that assists with shelter or home ownership.

I respectfully request approval to transfer this property to Social Service Agency or not-for-profit that assists with shelter or home ownership and that the Bureau Chief of Economic Development or his/her designee be authorized to execute, on behalf of the County of Cook, any and all documents necessary to further the project approved herein, including but not limited to, funding agreements, intergovernmental agreements, amendments and modifications there to, loan docu...

Click here for full text