Committee on Economic, Capital and Technology Development meeting, June 11, 2026
- When: Thu, Jun 11, 2026, 11:00 AM (Chicago time)
- Where: 201A, 2nd Floor, City Hall, 121 North LaSalle Street - Chicago, IL 60602
- Status: Scheduled & Published
- Committee: Committee on Economic, Capital and Technology Development
- Video: https://vimeo.com/showcase/8928495?video=1200176629
- Transcript: full text (6,020 words, automatic captions)
Meeting notes
AI-written from the transcript. Speakers are inferred from cues in the recording, so treat names as estimates and check the video at the linked time.
The Committee on Economic, Capital and Technology Development, chaired by Alderman Derrick G. Curtis, convened after a delay to reach quorum and heard two public commenters. The committee approved its May 2026 monthly report and recommended approval of appointments and reappointments to numerous Special Service Area commissions, several of whose appointees introduced themselves. It adopted a substitute ordinance naming the Back of the Yards Neighborhood Council as interim service provider for SSA 59 for the remainder of 2026, and recommended approval of Greater Southwest Development Corporation as service provider for SSA 3 on 63rd Street. It also recommended approval of a Class 7B property tax incentive for Axiom Flame LLC to convert a vacant warehouse at 2640-2646 West Madison Street into a content production studio, and deferred a resolution supporting a U.S. partnership with Taiwan.
Topics: Special Service Area appointments, SSA service providers, Class 7B tax incentive, content production studio, Taiwan trade resolution
Agenda items discussed
- 54:18 May 2026 monthly report: passed
- 54:52 Appointments and reappointments to Special Service Area commissions (items 1 through 23): passed
- 1:07:41 Substitute ordinance amending Special Service Area 59-2022 (59th Street) to designate Back of the Yards Neighborhood Council as interim service provider and set the 2026 tax levy: passed
- 1:14:18 Ordinance amending Special Service Area 3 (63rd Street) regarding service provider agreement with Greater Southwest Development Corporation and 2026 tax levy: passed
- 1:17:06 Class 7B tax incentive and redevelopment agreement for property at 2640 through 2646 West Madison Street (Axiom Flame LLC): passed
- 1:22:53 Resolution expressing support for U.S. partnership with Taiwan and a formalized trade and tourism office: deferred
Alderpersons who spoke
- Derrick G. Curtis (chair): Asked the Axiom Flame founder to describe his vision for the project. (1:20:57)
- Daniel La Spata (alderperson): Thanked the SSA appointees for their service and said SSAs can transform the economic and community vibrancy of their areas. (1:06:23)
- Scott Waguespack (alderperson): Asked whether all the alderpersons involved in the earlier SSA service provider dispute are on board with the changes. (1:12:11); Asked about the share of construction costs covered by the grant, occupancy compliance requirements, and the building's ownership history. (1:23:19)
- Silvana Tabares (alderperson): Asked the department to clarify whether the SSA 3 designation for Greater Southwest was on the current agenda. (1:12:56); Asked how long Greater Southwest would manage SSA 3 before the reconstitution process begins. (1:15:50)
- Nicole T. Lee (alderperson): Asked the purchase price of the West Madison Street property. (1:24:22); Asked how many permanent jobs the studio will create, whether it will rent space to other creators, and about workforce training. (1:25:26)