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Cook County HRA approves $875,000 development agreement for The Heights; tax-abatement hearings set
Summary
The Cook County Housing & Redevelopment Authority approved Resolution 24-11 to provide up to $875,000 in grant assistance to CCREF Highway 61 LLC for The Heights multifamily project; separate county and city bodies will consider tax abatement next week.
The Cook County Housing and Redevelopment Authority voted to approve Resolution 24-11, authorizing a development agreement with CCREF Highway 61 LLC (the Heights project) that includes up to $875,000 in grant assistance drawn from I Triple R, ARPA and other HRA funds.
At the September 18 meeting, staff described the agreement as the final public-approval step apart from building permits and a planned tax-abatement request before the county board and city council. The HRA clarified it is not a taxing authority and that any tax abatement decisions are the separate responsibility of the county and city. Staff invited commissioners to attend the county board meeting on Sept. 23 and the city council hearing on Sept. 24 in support of the abatement request.
Board members discussed a technical issue: the legal description (exhibit B) is being left blank because the developer may subdivide the parcel before recording a final legal description. Staff said the board could require a return for final approval if commissioners preferred, but that the change would not materially affect the project as currently planned; the parcel ID and address are noted in the agreement. The board also reiterated conflict-of-interest procedure: any commissioner with an investment or limited-partnership interest in the project should refrain from voting.
A project representative, Gary Latt, stated the development team is in agreement with the terms and ready to proceed. Staff noted remaining tasks include land-use signoffs and, if those are not completed in time, the developer may seek to revisit or terminate plans.
The motion to approve Resolution 24-11 was moved and seconded and approved by voice vote. The HRA emphasized that final execution of the development agreement is contingent on recording the final legal description or using the existing description if subdivision does not occur. The board also reiterated the separate timing and process for the tax-abatement requests before the county and city.
