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24-4122
| 1 | | | Committee Minutes | COMMITTEE MINUTES
Approval of the minutes from the meeting of 06/12/2024. | approve | Pass |
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24-3370
| 1 | | Leyden Apartments - HOME Investment Partnership Program | HOME Investment Partnerships Program | PROPOSED HOME INVESTMENT PARTNERSHIPS PROGRAM
Department: Planning and Development
Other Part(ies): Evergreen Real Estate Services LLC
Request: Cook County’s Department of Planning and Development requests approval of the investment of $1,750,000 HOME Investment Partnership Program funds to support the new construction of Leyden Apartments, an 80-unit affordable senior housing development to be located at 2450 & 2506-2516 N. Mannheim Road in Franklin Park.
Total Development Cost: $39,132,240.00
Project Loan Amount: $1,750,000.00
Fiscal Impact: $1,750,000.00
Account(s): 11900.1013.53638.580170.00000
Summary: Cook County’s Department of Planning and Development staff recommends the investment of $1,750,000 in HOME Investment Partnership Program (HOME) funds for the acquisition and construction of Leyden Apartments (the Project), a new 80-unit affordable rental housing development for seniors located in west suburban Franklin Park. The County’s HOME loan will be in a subordinate position during the construction term (estimated 16-months) and remain subor | recommend for approval | Pass |
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24-2891
| 1 | | Hillside Senior Apartments - HOME Investment Partnership Program | HOME Investment Partnerships Program | PROPOSED HOME INVESTMENT PARTNERSHIPS PROGRAM
Department: Planning and Development
Other Part(ies): Turnstone Hillside Senior Apartments LP
Request: Cook County’s Department of Planning and Development requests approval of the investment of $2,500,000 HOME Investment Partnership Program funds to support the new construction of Hillside Senior Apartments, a 42-unit affordable senior housing development to be located at 5207 Ridge Avenue in Hillside.
Total Development Cost: $18,691,337.00
Project Loan Amount: $2,500,000.00
Fiscal Impact: $2,500,000.00
Account(s): 11900.1013.53638.580170
Summary: Cook County’s Department of Planning and Development staff recommends the investment of $2,500,000 in HOME Investment Partnership Program (HOME) funds for the acquisition and construction of Hillside Seniors Apartments, a new affordable rental housing development for seniors located in west suburban Hillside. The County’s HOME loan will be in a subordinate second position during the construction term (estimated 24-month) springing to a first position permanent lo | recommend for approval | Pass |
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