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Sixty-fourth amending agreement with SomerCor, Inc. to increase funding to select tax increment financing (TIF) redevelopment project areas, amend Small Business Improvement Fund (SBIF) program rules, and continue SomerCor, Inc. as provider of administrative services

Legislation tracker › Finance

Record number: SO2024-0008887
Type: Ordinance; category: Finance Funds
Status: Final (Signed)
Sponsor: Johnson, Brandon
Co-sponsors (2): Matthew J. Martin (47th Ward), Andre Vasquez Jr. (40th Ward)
Committee: Committee on Finance
Submitted Date: Apr 16, 2024
Introduction Date: Apr 17, 2024
Final Action Date: May 22, 2024
Official record: Office of the City Clerk

Timeline

Apr 17, 2024: Referred, City Council. The matter was Referred to Committee.
May 13, 2024: Recommended to Pass, Committee on Finance. The matter was recommended to Pass by controlling legislative body.
May 13, 2024: Substituted, Committee on Finance. The matter was substituted in committee.
May 22, 2024: Passed, City Council (48 yea, 0 nay), at the City Council meeting. On motion of Alderperson Dowell, and unsuccessful motion to reconsider by Alderperson Harris, the matter was Passed.
May 31, 2024: Signed by Mayor, City Council. The matter was Signed by the Mayor.

Documents

8887 Letter.pdf (Committee Letter)
SO2024-0008887 EDS.pdf (EDS)
SO2024-0008887 Exhibit A - Funding.pdf (Exhibits)
SO2024-0008887 Exhibit B - Amended and Restated Program Rules.pdf (Exhibits)
SO2024-0008887 Exhibit C - Form of Sixty-Fourth Amending Agreement.pdf (Exhibits)
SO2024-0008887 Signed by Mayor.pdf (Legislation)
SO2024-0008887.pdf (Legislation)
O2024-0008887 Transmittal Letter.pdf (Miscellaneous)
Original Ordinance and Exhibits (O2024-0008887).pdf (Miscellaneous)

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More on Finance Funds

Expenditure of portion of Motor Fuel Tax (MFT) funds allocated to City of Chicago for Year 2027 (O2026-0029646, introduced Oct 21, 2026, Referred)
Sixty-sixth amending agreement with SomerCor 504, Inc. to increase funding to select tax increment financing (TIF) redevelopment project… (SO2026-0028810, introduced Sep 23, 2026, Passed as Substitute)
Sixty-sixth amending agreement with SomerCor 504, Inc. to increase funding to select tax increment financing (TIF) redevelopment project… (O2026-0027305, introduced Jul 15, 2026, Referred)

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