HomeMy WebLinkAboutRESOLUTIONS-2015-040-R-154/7/2015
40-R-15
A RESOLUTION
Authorizing the City Manager to Accept a Contribution from the
Developer of 1571 Maple Avenue for the Purpose of Providing Off -Site
Affordable Housing in the Downtown Area
WHEREAS, the City Council adopted Ordinance 19-0-15 approving a
special use for a planned development at 1571 Maple Avenue; and
WHEREAS, Section 4(P) of the Planned Development Ordinance imposed
conditions regarding affordable housing on the developer, 1571 Maple Avenue LLC (the
"Developer'), the first is a contribution to the City of Four Hundred Thousand Dollars
($400,000) to be used for affordable housing in Evanston and the second condition is that
the Developer provide two (2) on -site affordable units; and
WHEREAS, in keeping with the City's goal of maintaining its socioeconomic
diversity by developing and maintaining housing that is affordable to individuals and
households at a broad range of income levels in diverse neighborhoods, the City will
accept a contribution from the Developer and utilize the funds in accordance with the
parameters set forth in this resolution; and
WHEREAS, the City Council of the City of Evanston has determined it is
in the best interests of the City to provide specific direction for the use of the
contribution received by the City,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF EVANSTON, COOK COUNTY, ILLINOIS:
SECTION 1: The City Manager is hereby authorized and directed to accept
a contribution in the amount of Four Hundred Thousand Dollars ($400,000) from the
c
40-R-15
developer, 1571 Maple Avenue, LLC. The contribution will be made in two (2)
installments. The first installment shall be to be made within ten (10) business days of the
final certificate of occupancy (FCO) issuance and the second installment shall be made
within one year after the FCO issuance date.
SECTION 2: The City will select a nonprofit affordable housing developer to
whom the contribution will be donated for the purpose of purchasing and rehabilitating
units in the following zoning districts per Zoning Code of 2012, as amended: D1, D2, D3,
D4 or the RP District.
SECTION 3: The units acquired by the nonprofit affordable housing
developer will be rented out to income eligible households and the units will be held in
perpetuity in title with the nonprofit affordable housing developer for the sole purpose of
providing affordable rental housing in the downtown area of the City of Evanston.
SECTION 4: The nonprofit affordable housing developer shall apply for the
Illinois Affordable Housing Tax Credit through the Illinois Housing Development Authority
("IHDA") and will retain any tax credit certificates to syndicate for additional equity to be
used for the acquisition and/or rehabilitation of affordable units in the City. The City of
Evanston will work with the nonprofit affordable housing developer to establish specific
details of the program, including income restrictions and the number and size of the units
based on available funds.
SECTION 5: That the City Manager is hereby authorized and directed to
negotiate any additional conditions of the contribution as may be determined to be in
the best interests of the City.
-2-
40-R-15
SECTION 6: That this Resolution 40-R-15 shall be in full force and effect
from and after its passage and approval in the manner provided by law.
reo I e; t h B. Tisdahr,-
es .
Rodney Ge, City f�'(erk re
Adopted: A `\ ?) 2015
—3—
Mayor