# 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](https://www.chicagopolitics.org/tracker) › [Finance](https://www.chicagopolitics.org/committee/finance)

- Record number: **SO2024-0008887**
- Type: Ordinance; category: Finance Funds
- Status: Final (Signed)
- Sponsor: Johnson, Brandon
- Co-sponsors (2): [Matthew J. Martin](https://www.chicagopolitics.org/ward/47) (47th Ward), [Andre Vasquez Jr.](https://www.chicagopolitics.org/ward/40) (40th Ward)
- Committee: [Committee on Finance](https://www.chicagopolitics.org/committee/finance)
- Submitted Date: Apr 16, 2024
- Introduction Date: Apr 17, 2024
- Final Action Date: May 22, 2024
- Official record: [Office of the City Clerk](https://chicityclerkelms.chicago.gov/Matter/?matterId=86A74600-FEFB-EE11-A1FE-001DD809526D)

## 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](https://www.chicagopolitics.org/meeting/C58B2651-AC00-EF11-A1FE-001DD809669D). 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](https://www.chicagopolitics.org/files/clerk/matterattachmentspublic/eda2d807-5954-4ac5-927f-5fef27e3d135.pdf) (Committee Letter)
- [SO2024-0008887 EDS.pdf](https://www.chicagopolitics.org/files/clerk/matterattachmentspublic/5c8c174b-e6f6-439c-8910-479f031eaac6.pdf) (EDS)
- [SO2024-0008887 Exhibit A - Funding.pdf](https://www.chicagopolitics.org/files/clerk/matterattachmentspublic/7205e070-65f7-4f4b-b673-0b8ab478ee8d.pdf) (Exhibits)
- [SO2024-0008887 Exhibit B - Amended and Restated Program Rules.pdf](https://www.chicagopolitics.org/files/clerk/matterattachmentspublic/aaf29c03-71c4-4e6b-aa39-8f0aee890f51.pdf) (Exhibits)
- [SO2024-0008887 Exhibit C - Form of Sixty-Fourth Amending Agreement.pdf](https://www.chicagopolitics.org/files/clerk/matterattachmentspublic/44eec39f-c356-4557-b50b-5645d3efd0b4.pdf) (Exhibits)
- [SO2024-0008887 Signed by Mayor.pdf](https://www.chicagopolitics.org/files/clerk/matterattachmentspublic/35a94f84-71d5-4ad4-b8c2-42a69e22f04a.pdf) (Legislation)
- [SO2024-0008887.pdf](https://www.chicagopolitics.org/files/clerk/matterattachmentspublic/b32a8352-d647-40b3-b22a-1308ff3b2aea.pdf) (Legislation)
- [O2024-0008887 Transmittal Letter.pdf](https://www.chicagopolitics.org/files/clerk/matterattachmentspublic/4ac47b9f-9956-46ce-9b24-27033bfbca30.pdf) (Miscellaneous)
- [Original Ordinance and Exhibits (O2024-0008887).pdf](https://www.chicagopolitics.org/files/clerk/matterattachmentspublic/ca07a525-8b91-419e-bdbc-10e62bcf858b.pdf) (Miscellaneous)

## Related legislation

**More from Johnson, Brandon**

- [Executive Order No. 2026-7 (Senior Bill of Rights and Establishing the Mayor's Office on Aging)](https://www.chicagopolitics.org/matter/F2026-0029547-executive-order-no-senior-bill-rights) (F2026-0029547, introduced Dec 8, 2026, Placed on File)
- [Issuance of general obligation bonds (2027-2028 General Obligation Borrowing Ordinance)](https://www.chicagopolitics.org/matter/O2026-0029650-issuance-general-obligation-bonds-general-obligation) (O2026-0029650, introduced Oct 21, 2026, Referred)
- [Fiscal Year 2027 Budget Recommendations](https://www.chicagopolitics.org/matter/O2026-0029642-fiscal-year-2027-budget-recommendations) (O2026-0029642, introduced Oct 21, 2026, Referred)

**More on Finance Funds**

- [Expenditure of portion of Motor Fuel Tax (MFT) funds allocated to City of Chicago for Year 2027](https://www.chicagopolitics.org/matter/O2026-0029646-expenditure-portion-motor-fuel-tax-mft) (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…](https://www.chicagopolitics.org/matter/SO2026-0028810-sixty-sixth-agreement-somercor-504-inc) (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…](https://www.chicagopolitics.org/matter/O2026-0027305-sixty-sixth-agreement-somercor-504-inc) (O2026-0027305, introduced Jul 15, 2026, Referred)

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Source: https://www.chicagopolitics.org/matter/SO2024-0008887-sixty-fourth-agreement-somercor-inc-increase · Chicago Politics, an independent tracker of the Chicago City Council. Guide for agents: https://www.chicagopolitics.org/llms.txt