Committee on Finance meeting, May 18, 2026
- When: Mon, May 18, 2026, 10:00 AM (Chicago time)
- Where: City Council Chamber, 2nd Floor, City Hall, 121 North LaSalle Street - Chicago, IL 60602
- Status: Scheduled & Published
- Committee: Committee on Finance
- Video: https://vimeo.com/manage/videos/1192012038
- Transcript: full text (27,930 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 Finance Committee considered twelve agenda items, including monthly Rule 45 reports, several settlement authorizations, and multiple TIF-related ordinances. Motions were generally approved, with a few items passing despite opposition from a handful of alderpersons. The meeting also featured an extended public comment period with eleven speakers.
Topics: Rule 45 financial reports, Legal settlements (Access Living, Jose Gonzalez, Arnold Dey), Charitable payroll deduction program amendment, Multifamily housing financing for 3959 North Lincoln, TIF expansions and amendments (Mollison Elementary, Aspire Center, Workshop Arts, United Yards, Canal Congress), Public comments on housing, policing, and city finances
Agenda items discussed
- 50:30 Monthly Rule 45 reports for April 2026 and revised March 2026: passed
- 51:23 Department of Law communication of case reports for April 2026: discussed
- 51:52 Settlement of Access Living case (Item 2A): passed
- 1:26:25 Motion to recommend approval of Access Living settlement (Item 2A): passed
- 1:26:51 Settlement of Jose Gonzalez case (Item 2B): passed
- 2:06:54 Settlement of Arnold Dey case (Item 2C): passed
- 2:09:54 Ordinance amending the voluntary charitable payroll deduction program: passed
- 2:18:01 Ordinances authorizing multifamily program funds for 3959 North Lincoln Avenue (4 % and 9 % LIHTC components): passed
- 2:45:05 Intergovernmental agreement for Mollison Elementary School TIF assistance: passed
- 2:53:57 Aspire Center TIF amendment (Item 4): passed
- 3:01:29 Workshop Arts Collaborative TIF ordinance (Item 8): passed
- 3:08:55 United Yards TIF ordinance (Item 9): passed
- 3:15:39 Canal Congress TIF district amendment – amendment number three (Item 10): passed
- 3:15:01 Canal Congress TIF amendment – letter of support (Item 11): passed
- 3:16:26 Canal Congress TIF amendment – additional ordinance (Item 12): passed
Alderpersons who spoke
- Raymond A. Lopez (alderperson): Moved to approve the Access Living settlement (Item 2A). (1:26:29); Recorded as opposed to the motion, but the ayes carried. (1:26:42); Voted ‘no’ on the Motion for Item 2B. (1:58:05)
- Nicole T. Lee (alderperson): Asserted that many alderpersons know the speaker’s mother had a will. (35:09); Asked about attorney-fee estimates for the Access Living settlement. (1:07:45); Inquired who will manage the list of affordable/accessibile units. (1:09:39)
- Nicholas Sposato (alderperson): Asked for city-worker donation totals for 2024-25. (2:12:52); Provided the approximate total donations ($420,000). (2:13:35); Questioned why Global Impact wanted to leave the payroll-deduction program. (2:13:54)
- Gregory I. Mitchell (alderperson): Supported the multifamily financing for 3959 North Lincoln. (2:44:13)
- Jeanette B. Taylor (alderperson): Introduced herself as public commenter Zoe Lee (not a committee member). (19:11)
- Nicholas Sposato (chair): Opened the meeting as Vice Chair. (16:38)
- Pat Dowell (chair): Confirmed chair presence and called the meeting to order. (17:44); Greeted public commenter Zoe Lee. (19:19); Asked staff to contact the Buildings Department regarding demolition data. (20:02)
- Derrick G. Curtis (alderperson)
- Matthew J. O'Shea (alderperson)
- Marty Quinn (alderperson)
- Monique L. Scott (alderperson)
- Byron Sigcho-López (alderperson)
- Walter R. Burnett (alderperson)
- Scott Waguespack (alderperson)
- Rossana Rodríguez Sánchez (alderperson)
- Gilbert Villegas (alderperson)
- Emma Mitts (alderperson)
- Timothy R. Knudsen (alderperson)
- Matthew J. Martin (alderperson): Supported the multifamily financing for 3959 North Lincoln. (2:44:13)
Exchanges between members
- 1:07:45 Alderman Raymond A. Lopez asked Alderman Nicole T. Lee for an estimate of attorney-fee demands in the Access Living settlement.
- 1:58:05 Alderman Raymond A. Lopez voted ‘no’ on the Item 2B motion, joining Alderman Marty Quinn, Curtis, Sposato, Taliaferro and Riley in opposition.
- 3:27:25 Alderman Raymond A. Lopez raised concerns about the cost and safety implications of expanding the Canal Congress TIF to include the Greyhound station.
- 3:15:01 Alderman Raymond A. Lopez moved to pass Item 10 (Canal Congress TIF amendment) and the motion carried.