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HRA approves extra 60% AMI aid for The Heights; commissioner discloses limited-partnership tie
Summary
The Cook County HRA approved Resolution 2506 to provide an additional allocation for 60% AMI units at The Heights, approving up to roughly $36,000–$40,000 over two years. A commissioner disclosed being a limited partner in the Cook County Real Estate Fund, which backs the project; the disclosure was noted during debate.
The Cook County Housing Redevelopment Authority on May 20 approved Resolution 2506 to provide additional 60% area median income (AMI) rental support at The Heights, agreeing to a request for up to roughly $36,000–$40,000 over two years to subsidize nine affordable units.
Executive Director Jeff Brand told commissioners the request followed an earlier HRA contract for 80% AMI funding and that state sustainable-housing aid previously provided larger amounts. “The certified 2025 amount was akin to about 35,000, which is about a $50,000 reduction,” Brand said, describing a decline in the state contribution that created a funding gap for 60% AMI support. Brand said the HRA has limited time to consider the request and described the proposer’s plan for an initial nine 60% AMI units this fall and possible phase 2 expansion later.
During discussion one commissioner disclosed a financial interest, saying they were “a limited partner in the Cook County Real Estate Fund that is backing this project” and that they would pledge any personal profit back to the HRA. The same speaker noted Commissioner O'Brien also is a limited partner. The board discussed the disclosure; one commissioner suggested it might be best if the disclosing commissioner did not vote, but the meeting record does not show a formal recusal. The board nevertheless moved and seconded Resolution 2506; the motion carried by voice vote with no opposition recorded.
Brand added the HRA has other funding avenues to consider, including a potential $250,000 loan from 1 Roof expected to close in late July or early August that could help cover obligations this year and next. The HRA’s approval of Resolution 2506 authorizes the additional 60% AMI funding up to the amount discussed but is conditioned on available funds.
Brand also reported on The Heights construction activity, describing recent site grading and tree removal and noting a June 3 groundbreaking ceremony; he said he visited the site early in the morning and photographed progress. The board approved the funding authorization after the disclosure and brief discussion.
