Council rules of conduct for public meetings 2023 to 2027 pursuant to the Chicago city council Rules of Order and proced. procedure rule 49 the sergeant at procedure rule 49. The sergeant-at-arms sets forth the following rules of conduct to be followed during the public comment period and the duration of all committ. comment period and the duration of all committee and City Council meetings profane. Council meetings profane vulgar threatening abusive or disruptive. disruptive language is not permitted demeaning discrim. discriminatory or harassing behavior and speech towards others is not permitted disruptive behavior. towards others is not permitted disruptive behavior, including disruptive or disrespectful. including disruptive or disrespectful contacting others presentations is not permitted. presentations is not permitted banners flyers or signage are not permitted backpacks large bags and sharp objects are not permitted clear bags not tinted in color that do not exceed 12 by 12. not exceed 12 by 12 by 6 in will be permitted in our subject to search food and beverages including in metal. canisters are not permitted cell phones must be On silent prior to entering the meeting room. On silent prior to entering the meeting room individuals must remain seated public comment. must remain seated public comment speakers are permitted to stand only when providing public comment. stand only when providing public comment small handheld devices may be used only while seated and the user must refrain from interfering with the view or hearing of other individuals individuals. individuals individuals or groups failing to adhere to these rules will be asked to see such disruptive conduct and failure to comply will result in their being subject to removal from the meeting by the sergeant-at-arms. city of Chicago City of Chicago city council rules of conduct for public meetings 2023 to 2027 pursuant to the Chicago city council Rules of Order and procedure rule 49 the sergeant. Rules of Order and procedure rule 49 the Sergeant at Arms sets forth the following rules of conduct to be during the public comment period and the duration of committee and City Council meetings Prof. committee and City Council meetings profane vulgar threatening abusive or disruptive language is not permitted demeaning disc. demeaning discriminatory or harassing behavior and speech directed towards others is not permitted disruptive beh. behavior, including disruptive or disrespect. behavior, including disruptive or disrespectful conduct during others presentations is not permitted. during others presentations is not permitted banners flyers or signage are not permitted backpacks large bags and sharp objects are not permitted clear bags not tinted in color. I do not exceed 12x. I do not exceed 12 by 12 by 6 in will be permitted in our subject to search food and beverages including in. canisters are not permitted cell phones must be placed on silent prior to entering the meeting room. silent prior to entering the meeting room individuals must remain seated public. remain seated public comment speakers are permitted to stand only when providing public. stand only when providing public comment small handheld devices may be used only while seated and the user must refrain from interfering. refrain from interfering with the view or hearing of other individuals individuals. individuals individuals or groups failing to adhere to these rules will be asked to see such disruptive conduct and failure to comply will result in there being subject to removal from the meeting by the sergeant-at-arms. Good morning, everyone. the committee The committee on finance is called back to order from the rec. recess meeting on April 15 202. recess meeting on April 15 2024. I want to thank everybody for coming down. for coming down, uh this morning. I know we've had a change in. in our schedule for uh our in our schedule for uh, our city council meeting. So, uh, I appreciate everyone getting here still. On time we'll now have a role. On time we'll now have a roll call to establish a quorum. Vice chair Conway alderman laspada Alderman Hopkins Alderman Hall alderman Alderman Mitchell Alderman Harris Alderman Beal Alderman Lee Alderman Quinn Alderman Lopez Alderman Moore Alderman Curtis Alderman OSHA Alderman Mosley Alderman Rodriguez Alderman Scott Alderman brunette Alderman Ervin almond Alderman Talia Farrell Alderman Cardona almond Wagers Alderman Rodriguez Sanchez Alderman Ramirez Rosa Alderman vagus Alderman mitts Alder alderman, pisado Alderman Vasquez Alderman Reilly alderman kutson Alderman Martin Alderman silver Alderman Silverstein chair dowel is here. We have 22 members present we chair dowel is here. We have 22 members present. We have a quorum alderman seicho. quorum Alderman seicho Lopez Alderman Taylor and Alder. Ramirez have requested remote participation under the provision of rule 59. Can I get a motion? provision of rule 59. Can I get a motion to allow these Alderman Reilly? so moves although Yes almond. Yes, almond Riley made the motion. uh, all those the favor and the opinion of the chair the eyes have it and motion carries. I want to confirm that Alderman CEO. Taylor and Ramirez are joining us today. Hello. Yes. Yes Madam chair. Yes. Yes Madam chair Alderman cope is here present. Thank you all. all the woman tailor present. Thank you. Um, we will count all. Um, we will count all the mentality of pharaoh. Who was joined us for quorum? We received 1 written public comment from the environmentalists. of Illinois in support of the bond ordinance this Was sent to everyone electronic. Was sent to everyone electronically and we have 1 item on the agenda today. the agenda today, which is item number 1 a substitute. ordinance concerning the issuance of General. ordinance concerning the issuance of General obligation Andor securitization Corporation. Andor securitization Corporation bonds for housing and economic development program. economic development programs. There have been no changes from the uh ordinance that the substitute ordinance that we considered at our at the recess meeting. considered at our at the recess meeting, but we are joined today by the chief financial. today by the Chief Financial Officer Jill Jaworski and Jim MacDonald the managing deputy corpore. MacDonald the managing Deputy Corporation Council from the law department and Daniel hurt. law department and Daniel Herz from the Department of Housing, um, I'll entertain some lasting last questions before I call for a vote alderman. Moore I see you and we will count you towards foreign. any questions from Any questions from members of the committee? We'll start with Alderman Moore. Thank you. Thank you, um chairman. I'm I'm sure it's coming through but I had asked uh that the mayor's office Prov. but I had asked uh that the mayor's office provide. I know they gave us the list of the um, the the different managers on this project and a percent. managers on this project and a percentage, but I was looking for that document with the for that document with the dollars because we usually get that by dollars as well. I thought um, and then the next question was and I think this came up, question was and I think this came up at uh, and then in the ordinance where we talked about the criteria process that's spelled out in the fund allocation is that is the I can remember and I I I recall I didn't see it. I can remember and I I I recall I didn't see it in the ordinance. Does it mention that? ordinance. Does it mention that we have to follow the criteria? And I think that's what I brought up in the last meeting in terms of the um, was it codified that they have because the fact that you got a document if it's not codified then that could be changed thank you, uh alderman for the record. thank you, uh alderman for the record Daniel Herz director of housing or director of Policy Department of Housing. um know the the document Um know the the document is not codified. It is codified that it needs to be post. that it needs to be posted publicly and updated as those uh criteria. criteria change, but the criteria themselves are not codified. So so you you understand what I'm saying? So so you you understand what I'm saying chairman and I and I defer to you as as someone who's worked in development and and and I I just don't want if this is the criteria, but it's not codified then even if you change it just saying it's public it gives us. saying it's public it gives us no standing if if you understand what I'm saying? Well, I uh Alderman I don't believe any of the Cities. Programs so to speak a codified and ordinance form. Programs so to speak a codified and ordinance form, but we do have the opportunity. do have the opportunity on a quarterly basis to review the data and the reports that the Departments are going to be providing. providing to us and I think at that time you have an opport. opportunity to evaluate, uh To what extent criteria is being met? Okay. Thank you chairman. And as far as the other stuff, I guess it. chairman. And as far as the other stuff, I guess it'll get email. Yeah we did for. that was sent through the chair some I know I That was sent through the chair some I know I saw it in a packet with the names and the percentage, but I thought previous. previously in past when we've done this there. previously in past when we've done this there were dollar amounts associated with it. I'm saying the percentages. amounts associated with it. I'm saying the percentages I'm saying the n I'm saying the names I'm saying the ethnicity I'm saying the percentages but I thought there was always we can get that. we can get that to you. Um, and I'm sure we could get that to you before. to you before we take an official vote on on this. to you before we take an official vote on on this program. That's something that we've always had. That's something that we've always had come through the finance committee. Absolutely. Thank you. Alderman Vice chair Conway. Uh, yes. Thank you madam. Chairwoman. Um, my question is about the tax levy in section. My question is about the tax. Levy in section. 2.11 A. uh, which Uh, which is on page. 17 of the red line and 17 of the of the clean 1 too. Um, so I I noticed that that limits the Le. Limits The Levy per year to 285 million. is that uh, if you could explain how that um interacts with the amount of issuance and maybe even Define that for the committee, that would be appreciated. absolutely, um to identify absolutely, um identify yourself Jaworski Chief Financial Officer. Um, so the the re the calculation for that, um was sort of a it's basically a a Max calculation. Um if there was a decision to instead of issuing these on a level basis to issue them on a deferred or deferred basis such that uh, we'd wrap them around the existing City debt. around the existing City Debt Service in which case in essence if each each series of bond each series of Bonds were issued as a bullet the max debt Service would be 285 million and therefore the max Levy was set to be 28. set to be 285. Um, we uh, the the actual Levy will be based on the actual Debt Service. We're not anticipating deferring them to that degree. deferring them to that degree where we would have that high of The Debt Service, but we did include the flexibility. Um the Lev Um, the levy that gets put in place with the bonds. Um, the levy that gets put in place with the bonds will get a baited each year because the source of revenues that we're actually going to be using to pay is the addition. property taxes from the new B. property taxes from the new bav coming into the corporate fund. Uh, so we will put the levy in place as security for the bonds. the bonds the way we do with all General obligation bonds. and then we will obey that Levy um after uh, uh the revenues Uh, uh, the revenues have come in. And replace the Le. And replace the levy. does the um, I know it's it's Does the um, I know it's it's it's your stated intention. does the um, I know it's it's it's your stated intention to have issuance be 250 million a year. have issuance be 250 million a year, uh over 5 years. Is there anything in the ordinance? there anything in the ordinance that limits? That limits the amount of the amount. That limits the amount of the amount of uh issuance per year. No, the ordinance does in spec. No, the ordinance does and specify the amount that could be issued in a single year. 1 of the things we've mentioned before is we would issue less. If there were not enough project. if there were not enough projects the money wasn't, you know being spent quickly enough and it wasn't needed we would issue less. Um, if not enough tiffs. expired or the the Expired or the the because of say changes in assessed value. or something like that that the revenues that we were expecting. expecting were not coming in at those levels. We would then. reduce the amount of tiffs being issued or excuse me, the reduced the amount. reduced the amount of bonds being issued. Um, but so that the the expectation is it's going to be 250 a year, but we certainly can. certainly can reduce that if we need to and we will if we need to that's all I have Madam chair. I want to thank you. All right. Thank you. I want to acknowledge that we've been joined by Alderman mitts. joined by Alderman mitts in Alderman Beale. and will be added to And will be added to Quorum and Alderman Mosley is request. requesting remote participation under rule 59. Can I get motion to allow him? So moved by Alderman Harris all those in favor signify by saying? in favor signify by saying I in the opinion of the chair the eyes have it and uh Alderman Mosley you joined us. Or will be joining us. All right is All right. Is there a motion to recommend approval of item number 1? Yes Alderman Reilly and um number 1 yes Alderman Reilly and um pursuant to rule 29. Uh, I would like to propose. Uh, I would like to propose a substitute, uh Amendment to the amendment. the amendment, uh on page 24 section 2 dot 1 198 uh simply replacing Uh, simply replacing 5 million with 1 million. uh, simply replacing 5 million with 1 million and for my colleagues edification, this would be colleagues edification. This would be to allow for greater aldermanic over. aldermanic oversight over expenditures under this program as we heard in testimony during the recessed Committee hearing. There are a number of projects that will fall within the 1 to 5. within the 1 to 5 million dollar range, and I think it's upon all of us, I think our duty to provide legislative. oversight on the expenditure of these monies and so it's a simple change. I understand that the administration Is bound and determined to issue 1.25 billion? Is bound and determined to issue 1.25 billion dollars in bonds? I'm willing to let that go but I do. bonds? I'm willing to let that go but I do think this body has a responsibility. has a responsibility to provide adequate oversight for the expenditure of these funds so expenditure of these funds. So thank you all that said I'd appreciate the ultimate. care with respect and motion Care with respect and motion to lay that motion on the table. Okay, there's been No, the the motion is not debat. No, the the motion is not debatable. The motion is not debatable. No, you did not I didn't see you. I recognize. No, you did not I didn't see you. I recognize all the I looked at Alder. looked at Alderman lepat because I didn't see you. You just walked in. Um We'll take a roll. We'll take a roll call on this matter to lay this on the table. table is a yes vote to not lay it. table is a yes vote to not lay it on the table is a no vote Vice. Vice chair Conway. Uh The Substitute was to lower the threshold from 5, basically. basically from 5 million. He asked me thank you Alderman bill. He asked me thank you Alderman bill, um from 5 million to 1 million. Vice chair Conway alderman laspada alderman laspata Alderman Hopkins Alderman Hall Alderman Mitchell Alderman Harris Alderman bill Alderman Lee Alderman Ramirez Alderman Quinn Alderman Lopez Alderman Moore Alderman Curtis Alderman OSHA Alderman Taylor Alderman Mosley Alderman Rodriguez Alderman Scott alderman Alderman CEO Lopez Yes. Alderman brunette alderman Alderman Talia far Alderman Talia Farrell Alderman Cardona Alderman wag is back. Alderman Rodriguez Sanchez Alderman Ramirez Rosa alderman viegas Alderman mitts Alderman spaz Alderman Vasquez Alderman Reilly Alderman k Alderman Goodson Alderman Martin Alderman Silverstein Alderman dowel uh is a yes. Alderman dowel uh is a yes chair dowel is a yes and alderwoman Taylor is yes. Alderman Taylor is a yes. And that's 16 yeses. And that's 16 yeses to 12 NOS the uh motion. And that's 16 yeses to 12 NOS the uh motion fails. Can I get a motion to approve? Can I get a motion to approve item number 1? Yes the motion to lay it on the table. Yes, the motion to lay it on the table is not. Is approved. Yes. Thank you. thank Thank you very much to my colleagues is Thank you very much to my colleagues. Is there a motion to recommend approval of item number? recommend approval of item number 1? so moved by alderman Roger Rodriguez recommending do pass of item number 1. Um, there's been a call for a roll call. So we will there's been a call for a roll call so we will have that. Vice chair Conway alderman laspada Alderman Hopkins Alderman Hall Alderman Mitchell Alderman Harris Alderman be Alderman bill Alderman Lee alderman ramire Alderman Ramirez Alderman Quinn Alderman Lopez Alderman Moore Alderman Curtis Alderman oh Alderman OSHA Alderman Taylor here Uh, the vote is on. Uh, the vote is on the ordinance Alderman Taylor item number 1. Yes. Alderman Mosley Alderman Rodriguez Alderman Scott Alderman CEO Lopez, yes Alderman brunette Alderman Ervin Alderman Talia Farrell alderman Alderman Cardona Alderman wag alderman waguespack Alderman Rodriguez Sanchez um I will count you towards Quorum alderman. I will count you towards Quorum Alderman wages back. Where are you? Okay. Okay, uh so that this vote will count. Um alderman Alderman Ramirez Rosa Alder alderman viegas Alderman mitts Alderman spaz Alderman Vasquez Alderman Reilly alderman kunden Alderman Martin Alderman Silverstein chair dowel votes. Yes. and the vote to pass is And the vote to pass is 20 to 9. the due pass recommendation of this substitute The due pass recommendation of this substitute ordinance will be reported out at the next city council meeting. Thank you all again for showing up there. Thank you all again for showing up there being no further business before the committee. Can I get a motion? business before the committee. Can I get a motion to adjourn? So moved by all. So moved by all vice mayor Bernett all those in favor say So moved by all vice mayor Bernett, all those in favor. Say I oppose and the opinion of the chair. I oppose and the opinion of the chair the eyes have it the committee on finance is hereby adjourned. Yes. It was a previous meeting. No. No, it hasn't been amended. No.