Pursuant to a consent decree in federal district court, the public housing tenant association at Cabrini Green is an equity partner in the development team selected by the Chicago Housing Authority to redevelop the Cabrini Extension North site on Chicago's north side. The new development will include approximately 651 units serving a mix of market rate, low-income, and public housing tenants and unit owners. The Housing Initiative worked with the tenant association (known as the Local Advisory Council or LAC) and its advisers to form a new not-for-profit corporation to serve as the developer for the transaction. The Housing Initiative then negotiated a term sheet and limited liability company operating agreement with the for-profit developers who were selected to partner with the LAC to redevelop the site. As the development progresses towards closing, the Housing Initiative will continue to assist the LAC and its development arm in making sure that public housing tenants' interests are fully represented in the design, implementation and documentation of the redevelopment.

For more on the Cabrini Green transformation project, see "A New Day at Cabrini Green".

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