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City supports building project
Happy Spring! Now that the winter is finally over, it’s time to share what we’ve been up to at the Green Exchange.
Last month, the Green Exchange received exceptional support from the City of Chicago. An ordinance was recently passed authorizing the City to provide a $15 million dollar construction loan to complete the building project. This loan will be made available through the HUD 108 Program.
Additionally, the City of Chicago passed a $20 million dollar Recovery Zone Bond Allocation ordinance. The Recovery Zone Bond program is part of the federal stimulus package that allows private developers to procure financing at below-market rates. We’re grateful to the City of Chicago, our Green Exchange tenants, and all of our supporters who helped make possible this major step forward for the Green Exchange community!
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