title
Authorization to execute a Housing Assistance Payments (HAP) Contract with a) The Rise on Halsted, b) Morgan Park Commons, c) 1 Fifteen Michigan Apartments, d) Joyce Chapman Apartments, and e) Sarah's on Sunnyside.
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Development
Address
Community Area
Target
Population
The Rise on Halsted
11300-11318 S Halsted Street
Morgan Park
Family
Morgan Park Commons
11400-11485 S Halsted Street
Morgan Park
Family
1 Fifteen Michigan Apartments
11500 S Michigan Avenue
West Pullman
Family
Joyce Chapman Apartments
505 W 119th Street
West Pullman
Supportive
Sarah's on Sunnyside
4458 N Clarendon Avenue
Uptown
Supportive
presenter
Presenter: Cheryl Burns, Chief Housing Choice Voucher Officer
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Recommendation
It is recommended that the Board of Commissioners ("Board") of the Chicago Housing Authority ("CHA") authorize the CHA's Operating Chairman, or his designee, to execute an Agreement to enter into a Housing Assistance Payments ("AHAP") contract, a corresponding Housing Assistance Payments ("HAP") contract, and all other documents required to implement such items for a) The Rise on Halsted, b) Morgan Park Commons, c) 1 Fifteen Michigan Apartments, d) Joyce Chapman Apartments, and e) Sarah's on Sunnyside. Should a project not secure required financing approvals, CHA's commitments will expire December 31, 2027.
The requested action complies in all material respects with all applicable federal, state, and local laws, and CHA policies. CHA staff has completed all necessary due diligence to support the submission of this initiative.
Property Summary and Estimated Contract
A HAP contract shall be issued for the following Developments utilizing funding from the Housing Choice Voucher (HCV) program:
Development Name
Owner Entity
Contract
Type & Term
Total
# Units
PBV Units
Initial Estimated Contract
Total Estimated Contract
The Rise on Halsted
Far South Community
AHAP/HAP
30 years
42
10
$ 163,800.00
$ 8,221,032.00
Morgan Park Commons
MPC Phase I 4%, LLC
MPC Phase ...
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