title
Authorization to submit a disposition application to the U.S. Department of Housing and Urban Development ("HUD"), enter into a ground lease, and enter into a Power Purchase and Lease Agreement ("PPLA") for a solar power development at Altgeld Gardens.
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Development
Address
Community Area
Target
Population
Parcel 1 - 13350 S. Langley Avenue
Parcel 2 - 13325 S. Dobson Avenue
Parcel 3 - 969 E. 130th Street
Riverdale
New solar panel arrays will be installed on three vacant parcels and landscaped buffers will be designed and installed
presenter
Presenter: Rishab Mehan, Deputy Chief Development
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Recommendation
The Operating Chairman of the Chicago Housing Authority ("CHA") recommends that the CHA Board of Commissioners ("Board") authorize the Operating Chairman or his/her designee to: 1) enter into a 20-year ground lease with two (2) additional 5-year options to extend with Windfree AG Solar 1 LLC for certain land within Altgeld Gardens to facilitate the installation of solar panels on three (3) parcels totaling approximately 17.96 acres (the "Proposed Development") in the Altgeld Gardens community to be developed by the solar power developer Windfree Wind & Solar Energy Design Company (the "Solar Developer"); 2) submit a disposition application to HUD for the CHA land necessary to enable the Proposed Development; 3) lease the land to Solar Developer or its designee in exchange for the appraised leasehold value being provided to CHA; 4) enter into a Power Purchase and Lease Agreement ("PPLA") with Windfree AG Solar 1 LLC for the supply of renewable electricity at Altgeld Gardens; and 5) execute and deliver such other documents and perform such actions as may be necessary or appropriate to implement the foregoing.
Overview
This item is for the submission of a disposition application to HUD, the subsequent entry into a ground lease of vacant land (upon HUD's approval) within the Altgeld Gardens development to the Solar Developer to facilitate the ...
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