Chicago Housing Authority AgendaPacket Real Estate Operations Development Committee Meeting 2026-05-26
CHA approves HAP contracts for Flyover Flats PBVs
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Description
The Chicago Housing Authority approved entering into AHAP and HAP contracts with The Community Builders for the Flyover Flats development, supporting 13 PBV units with an estimated total contract value of $14.16 million over 30 years. The authorization includes all necessary documents and expires if financing is not secured by December 31, 2027.
Contract Details
Contract Amount
Initial Estimated Contract $297,684.00; Total Estimated Contract $14,162,440
Vendor
COMMUNITY BUILDERS
Agency
Chicago Housing Authority, IL
Contract Type
FINANCIAL_SERVICES
Document Date
May 25, 2026
Contract Term
30 years
Renewal Info
Initial AHAP and HAP contracts for 30 years; CHA commitments expire if financing approvals are not obtained by 2027-12-31. Any renewal beyond 30 years would require future Board action.
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