West Jackson Boulevard 50-Unit Affordable Housing Financing
At a glance
What: Ordinance authorizing a TIF redevelopment agreement, multifamily loan funds, affordable housing tax credit proceeds and a sale of three city-owned parcels at $1 each for a 50-unit affordable development; total cost about $39.9 million, including $11.5 million in TIF funds.
Where it stands: Recommended for approval by voice vote with support from the ward alderman and two neighboring aldermen. Units are set at 30, 50 and 60 percent of area median income, including three permanent supportive housing units.