File #: 819-2025    Version: 1 Name:
Type: Emergency Ordinance Status: Passed
File created: 7/7/2025 In control: City Council
On agenda: 8/13/2025 Final action: 8/13/2025
Passage/adoption date: 8/13/2025
Effective date: 8/18/2025    
Title: AN EMERGENCY ORDINANCE Authorizing the Director of Economic Development to enter into a forgivable loan agreement with Famicos Foundation, or its designee, to provide economic development assistance to partially finance the acquisition, and development of interior and exterior improvements at a mixed used building located at 1355 East 105th Street, and other associated costs necessary to redevelop the property.
Sponsors: Kevin Conwell, Anthony T. Hairston, Blaine A. Griffin, By Departmental Request
Indexes: ECONOMIC DEVELOPMENT DEPARTMENT, FAMICOS FOUNDATION, LOAN AGREEMENT, WARD 09
Attachments: 1. 819-2025-Loan K w Famicos Foundation forgivable loan, 2. 819-2025-A-FILE-Loan K w Famicos Foundation forgivable, 3. 819-2025 Executive Summary - 2025_08 FAMICOS_$500k, 4. 819-2025 PRESENTATION_FAMICOS, 5. FINAL VERSION - CITY RECORD 8/22/2025 PAGE 3

Title

AN EMERGENCY ORDINANCE Authorizing the Director of Economic Development to enter into a forgivable loan agreement with Famicos Foundation, or its designee, to provide economic development assistance to partially finance the acquisition, and development of interior and exterior improvements at a mixed used building located at 1355 East 105th Street, and other associated costs necessary to redevelop the property.