For the last 12 years, The Chicago Housing Authority has worked collaboratively with residents and community stakeholders to determine a redevelopment plan for Lathrop Homes. There have been various discussions and meetings regarding the possible plans, including regular Working Group meetings, open houses and community discussions.
On April 23, 2014, CHA discussed with the Working Group a proposed predevelopment loan and the use of funds critical to the planning process. A common financial transaction, the predevelopment loan will be used to fund key predevelopment activities, including architectural and engineering design and development, technical reports and permit fees. The predevelopment loan allows for the continued critical planning to move ahead toward a final development plan.
However, in light of recent concerns regarding the Board resolution, CHA felt it necessary to amend the Board Recommendation Letter – removing reference to the total number of units and unit mix. The Lathrop predevelopment loan is a regular and standard component in the redevelopment process and is not a final determination of unit mix or building height. CHA will continue to work in collaboration with residents and stakeholders to continue to help build a strong future for the redevelopment of Lathrop Homes.