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24-3441
| 1 | | Workforce minutes from the meeting of 5/14/2024 | Committee Minutes | COMMITTEE MINUTES
Approval of the minutes from the meeting of 5/14/2024 | approve | 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 deferral | Pass |
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24-2910
| 1 | | Aloha Motel - CDBG-CV Fixed-Site Shelter | Report | PROPOSED COMMUNITY DEVELOPMENT BLOCK GRANT CARES ACT (CDBG-CV)
Department: Planning and Development
Other Part(ies): BEDS Plus Care, Inc. (or its single-purpose entity, Cicero Avenue Transitional Shelter LLC)
Request: CDBG-CV Program Project Loan
Total Development Cost: $6,175,000.00
Project Loan Amount: $2,800,000.00
Fiscal Impact: None
Account(s): 11900.1013.54026.580170
Summary: Cook County’s Department of Planning and Development staff respectfully submits the recommended investment of $2,800,000 of Community Development Block Grant CARES Act (CDBG-CV) funds to BEDS Plus Care, Inc. (or its wholly-owned, single purpose entity, Cicero Avenue Transitional Shelter, LLC) for the acquisition of the Aloha Motel, an existing hotel located in Chicago directly adjacent to southwest suburban Burbank. The loan will have a thirty-year term, carry no interest, and will be fully forgivable at maturity.
The Aloha Motel is currently being leased by BEDS Plus Care, Inc. (BEDS) and operates as a fixed-site shelter for the homeless. CDBG-CV loan funds will be used | approve | Pass |
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