NOTICE OF PUBLIC HEARING OF FINANCING OF A MULTI-FAMILY HOUSING DEVELOPMENT 838 W. 79TH STREET
Notice is hereby given that on July 18, 2022, at 10:00 A.M., a public hearing will be held
before the Committee on Finance (the “Committee”) of the City Council (the “City Council”)
of the City of Chicago (the “City”) regarding a plan of finance to issue a City of Chicago
Multifamily Mortgage Revenue Note, 2022 Series A (Auburn Gresham Apartments), in an
aggregate principal amount not to exceed $25,000,000 (the “Note”). Pursuant to applicable law,
the Chairman of the Committee has determined that an in-person meeting is not practical or
prudent. Accordingly, attendance at this meeting will be virtual only. The public hearing may be
attended by videoconference via a link at the following web address: www.chicityclerk.com.
The hearing may also be attended via a toll-free telephone number by following the directions
below:
1. Call 888-475-4499,
2. When prompted for webinar ID, enter 823 2079 4542, followed by #,
3. When prompted for attendee ID, enter #,
4. When prompted for meeting password, enter 796505, followed by #, and
5. If making verbal comments, notify the host and, once called upon to provide such
comments, enter *6 to unmute.
The City will issue the Note pursuant to its powers as a home rule unit of government
under the Constitution of the State of Illinois and an ordinance adopted by the City Council. The
Note will not be a general obligation of the City, the State of Illinois or any political subdivision thereof, but will be a limited, special obligation of the City. The principal of, premium, if any,
and interest on the Note will be payable solely out of the revenue of the Bond Project and other
funds pledged and assigned for their payment by the Borrower in accordance with a borrower
loan agreement between the City and the Borrower. The Note will not constitute an indebtedness
or an obligation of the City, the State of Illinois or any political subdivision of the State of
Illinois within the purview of any constitutional limitation or statutory provision. No holder of
the Note will have the right to compel any exercise of the taxing power of the City, the State of
Illinois, the United States of America or any political subdivision of any of them to pay the
principal of, premium, if any, or interest on the Note.
This Notice of Public Hearing is required by Section 147(f) of the Internal Revenue Code
of 1986, as amended. Any person having any views on the issuance of the Note may do so by
calling the toll-free number provided on the website as set forth above and notifying the host of
the call that they wish to make verbal comments. The public comment portion of the hearing
shall last a maximum time of 30 minutes, and each person wishing to provide verbal comments
shall be given three (3) minutes maximum to speak. In addition to verbal comments during the
public hearing, members of the public may submit written comments to the Committee’s
Director of Legislation and Policy at Owen.Brugh@cityofchicago.org by 3:00 P.M., July 15,
2022.
Dated: July 8, 2022
By: /s/ Scott E. Waguespack
Chairman
City Council Committee on Finance
City of Chicago
Keywords:
Auburn Gresham Apartments, City of Chicago, Department of Planning, Invest South/West
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