Committee on Economic, Capital and Technology Development meeting, March 6, 2025
- When: Thu, Mar 6, 2025, 10:00 AM (Chicago time)
- Where: City Council Chamber, 2nd Floor, City Hall, 121 North LaSalle Street - Chicago, IL 60602
- Status: Adjourned
- Committee: Committee on Economic, Capital and Technology Development
- Video: https://vimeo.com/1062864225
- Transcript: full text (5,290 words, official 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 Alderperson Gilbert Villegas, approved its February 2025 monthly report and recommended passage of two property tax incentives. The first was a Class 6B incentive and redevelopment agreement for a roughly 413,000 square foot light industrial building on a long-vacant 24-acre site at 119th Street in West Pullman in the 21st Ward, which Vice Chair Ronnie L. Mosley supported as a catalyst for the area's planned manufacturing district. The second was a 12-year Class L landmark incentive for rehabilitation of the Congress Theater at 2135 North Milwaukee Avenue in the 1st Ward as a music venue with commercial space and 16 affordable units; Alderperson Scott Waguespack questioned the combined value of TIF, Class L and low-affordability property tax benefits, and staff agreed to provide figures through the chair. One public commenter spoke and one written comment was received.
Topics: Class 6B tax incentive, Class L landmark incentive, West Pullman industrial development, Congress Theater, low-affordability tax relief, TIF, public comment
Agenda items discussed
- 1:00:12 Approval of the February 2025 monthly report: passed
- 1:00:35 Class 6B tax incentive and redevelopment agreement for property at 119th Street in the 21st Ward (West Pullman Development Partners): passed
- 1:12:16 Class L tax incentive for the Congress Theater at 2135 North Milwaukee Avenue: passed
Alderpersons who spoke
- Gilbert Villegas (chair): Asked whether the Congress Theater developer had identified a prime contractor and urged the team to market affordable units to veterans under a recently passed set-aside. (1:27:26); Urged the developers to complete the long-delayed Congress Theater project. (1:30:56)
- Felix Cardona Jr. (alderperson): Asked what the planned use of the West Pullman industrial building would be. (1:05:24); Said the project would be a strong incentive for job creation in West Pullman. (1:09:02)
- Ronnie L. Mosley (alderperson): Said the project complements housing stabilization efforts in West Pullman and is the catalyst site for a manufacturing district vacant for more than 20 years. (1:09:24); Said the 50 permanent jobs should be a floor, not a ceiling, and praised the developer's approach to environmental remediation. (1:10:18)
- Scott Waguespack (alderperson): Asked about the $27.25 million TIF agreement's 75 percent occupancy requirement and whether failing it would affect the Class L incentive. (1:20:05); Asked city staff for the full package of incentives, including the savings from the low-affordability property tax ordinance. (1:21:49); Explained the low-affordability relief phases down from 100 percent and said unpaid taxes are absorbed by other taxpayers, asking what taxpayers get in return. (1:24:19)
- Daniel La Spata (alderperson): Clarified that his office pursued the low-affordability ordinance for the entire Milwaukee Avenue corridor, not at the developer's request. (1:22:48); Said the Congress Theater is a unique historic site he has supported for four years and that its redevelopment is already spurring interest in nearby vacant lots. (1:28:20); Argued the TIF district's planned expiration in 2027 and the catalytic effect on surrounding assessments would outweigh the tax savings; asked colleagues' support. (1:29:04)
Exchanges between members
- 1:22:48 Alderperson Daniel La Spata offered Alderperson Scott Waguespack a clarification that the low-affordability ordinance covers the whole Milwaukee Avenue corridor.