# Committee on Finance meeting, October 15, 2025

- When: Wed, Oct 15, 2025, 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](https://www.chicagopolitics.org/committee/finance)
- Video: https://vimeo.com/showcase/8928482?video=1127291709
- Transcript: [full text](https://www.chicagopolitics.org/files/transcripts/1127291709.txt) (38,640 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 Finance held TEFRA public hearings on a proposed $20 million multifamily note for the Holman Square Apartments Phase IV project and $35 million in multifamily housing revenue bonds for the Indian Trails Apartments, where tenants raised concerns about building conditions. In its regular meeting the committee recommended four Department of Law settlements: $615,000 in the Winters case, $950,000 in a whistleblower case, $7.5 million in the Lee Wilson case, and $8 million in the Guerrero case, the last approved on a roll call announced as 22 yeses and three nays. Members questioned Law Department staff about police emergency driving rules, paramedic conduct and settlement valuations. The committee also recommended TIF funding for Union Station improvements, River Park, Ronan Park and Holman Square Park, an amendment to the Renaissance Estates redevelopment agreement, restoration of a lien assignment code section, the 2026 mortgage credit certificate program, and several Department of Housing items including Holman Square Phase IV, a bond inducement for 5853 North Broadway, the Indian Trails bonds, the Eden Bronzeville transfer, and TIF assistance for 1539 North Pulaski Road.

Topics: TEFRA hearings, legal settlements, police emergency driving, paramedic care, TIF funding, affordable housing, Indian Trails Apartments tenant conditions, mortgage credit certificates, park improvements, Union Station

### Agenda items discussed

- [25:48](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=1548) TEFRA public hearing on up to $20 million multifamily mortgage revenue note for Holman Square Apartments Phase IV: discussed
- [46:44](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=2804) TEFRA public hearing on up to $35 million multifamily housing revenue bonds for Indian Trails Apartments: discussed
- [1:35:25](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=5725) Settlement: Powell, special administrator of the estate of Mario Winters, v. City of Chicago ($615,000): passed
- [1:54:39](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=6879) Settlement: Franklin Paz whistleblower retaliation case v. City of Chicago ($950,000): passed
- [2:05:28](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=7528) Settlement: Lee, special representative of the estate of Adelbert Wilson and Yvonne Lee Wilson, v. City of Chicago ($7.5 million): passed
- [2:11:04](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=7864) Settlement: Tanguma, administrator of the estate of Leonardo Guerrero, v. City of Chicago ($8 million): passed
- [2:37:04](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=9424) Capital funding agreement with Amtrak for TIF funding of Chicago Union Station improvements: passed
- [2:45:41](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=9941) First amendment to intergovernmental agreement with Chicago Park District for River Park improvements (Lawrence/Kedzie TIF, up to $200,000): passed
- [2:50:34](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=10234) Intergovernmental agreement amendment with Chicago Park District for Ronan Park improvements (up to $2.85 million): passed
- [2:56:18](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=10578) Intergovernmental agreement with Chicago Park District for Holman Square Park improvements (up to $600,000): passed
- [2:58:36](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=10716) First amendment to redevelopment agreement with JTA Development for Renaissance Estates: passed
- [3:31:32](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=12692) Ordinance restoring municipal code section on lien assignments: passed
- [3:04:52](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=11092) 2026 mortgage credit certificate program (up to $75 million in bond volume cap): passed
- [3:38:15](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=13095) Financial assistance and restructuring for Holman Square Apartments Phase IV (substitute): passed
- [3:51:18](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=13878) Bond inducement for up to $26 million for 5853 North Broadway affordable housing: passed
- [4:04:09](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=14649) Multifamily housing revenue bonds for TTG Indian Trails rehabilitation (substitute, up to $35 million): passed
- [4:22:54](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=15774) Transfer of assets and assumption of HOME loan for Pioneer Gardens / Eden Bronzeville: passed
- [4:29:51](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=16191) Redevelopment agreement and TIF assistance to Hispanic Housing Development Corporation for 1539 North Pulaski Road: passed

### Alderpersons who spoke

- [Pat Dowell](https://www.chicagopolitics.org/ward/3) (chair): Asked Law Department staff to confirm that no call was made from the ambulance to the hospital as required. ([2:21:07](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=8467)); Said she requested ward-level data on mortgage credit certificate use and participating lenders, and said most participants appeared to be from non-target areas so outreach in target areas is needed. ([3:14:41](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=11681)); Asked whether CHA voucher units at 5853 North Broadway are spread across unit sizes. ([4:02:42](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=14562))
- [William Conway](https://www.chicagopolitics.org/ward/34) (alderperson): Recused himself from the whistleblower settlement under Rule 14, citing prior work with a party. ([2:02:11](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=7331)); Said he would vote no on the $8 million Guerrero settlement, citing the paramedics' short involvement, the decedent's toxicology and the settlement size, and requested a roll call. ([2:22:21](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=8541)); Asked who funds the $75 million volume cap and how the purchase price limit per unit was set for the mortgage credit certificate program. ([3:15:49](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=11749))
- [Raymond A. Lopez](https://www.chicagopolitics.org/ward/15) (alderperson): Asked whether the officer's lights and sirens were activated in the Winters case. ([1:39:43](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=5983)); Asked what is being done about settlements involving officers toggling sirens or lights through intersections. ([1:40:05](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=6005)); Argued that a U-turn about 100 feet ahead could not have been avoided even at lower speed and questioned holding the city to that standard. ([1:51:41](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=6701))
- [Derrick G. Curtis](https://www.chicagopolitics.org/ward/18) (alderperson): Questioned the Winters settlement, noting the decedent was intoxicated and on an unregistered motorized minibike while the officer had emergency lights on. ([1:44:13](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=6253)); Asked who determined that the officer failed to ensure the intersection was clear. ([1:45:48](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=6348))
- [Nicholas Sposato](https://www.chicagopolitics.org/ward/38) (alderperson): Asked whether motorized minibikes can be registered for use on city streets and said he found the settlement frustrating. ([1:46:36](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=6396)); Said he knows the plaintiff but would not recuse, and asked why the plaintiff could not return to work after the supervisor retired. ([2:03:03](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=7383)); Agreed with Alderperson Raymond A. Lopez concerns but said the city had little to stand on and that he would regrettably support the Guerrero settlement. ([2:21:42](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=8502))
- [Brian Hopkins](https://www.chicagopolitics.org/ward/2) (alderperson): Raised concern that an officer was found at fault for failing to clear an intersection while lights and siren were used properly, and asked how that precedent would apply. ([1:49:44](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=6584)); Said he knows the parties but can decide objectively, described the whistleblower settlement as reasonable given disputed facts, and said he would vote aye. ([2:04:15](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=7455)); Asked whether outside counsel would be required at trial in the Guerrero case and what trial costs might be. ([2:23:41](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=8621))
- [Scott Waguespack](https://www.chicagopolitics.org/ward/32) (alderperson): Requested through the chair the city and state laws cited in the Winters settlement regarding use of motorized vehicles on streets. ([1:53:30](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=6810)); Asked about the ruling in a prior paramedic case the city won at trial and how intoxication factored into the Guerrero settlement valuation. ([2:26:20](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=8780)); Asked about the data requested on the mortgage credit certificate program and how the department tracks the $75 million cap. ([3:17:41](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=11861))
- [Daniel La Spata](https://www.chicagopolitics.org/ward/1) (alderperson): Asked how much time elapsed before aid was rendered to Mr. Guerrero and whether the suit could have been avoided by rendering care. ([2:18:37](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=8317))
- [Anthony Beale](https://www.chicagopolitics.org/ward/9) (alderperson): Recused himself from the Lee Wilson settlement under Rule 14, saying he knows the family. ([2:10:24](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=7824)); Asked the Law Department to report cases the city wins at trial so members know it is defending taxpayers. ([2:22:47](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=8567)); Asked whether the lien assignment ordinance resembles a past program that returned vacant properties to local rehabbers and encouraged including banks. ([3:34:19](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=12859))
- [Michelle A. Harris](https://www.chicagopolitics.org/ward/8) (alderperson): Recused herself from the Lee Wilson settlement, saying she is familiar with the family. ([2:10:36](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=7836)); Praised the Eden supportive living operator's management of a facility in her ward. ([4:28:28](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=16108))
- [Matthew J. O'Shea](https://www.chicagopolitics.org/ward/19) (alderperson): Asked about the paramedics' interaction with Mr. Guerrero and confirmed it was captured on body-worn camera and violated fire department orders. ([2:30:37](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=9037))
- [Rossana Rodríguez Sánchez](https://www.chicagopolitics.org/ward/33) (alderperson): Asked for support of River Park funding to make the riverfront accessible and noted the project is in Albany Park rather than Lincoln Square. ([2:48:04](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=10084)); Said Ronan Park lacks a field house and the plaza would give dense Albany Park a gathering space, and asked for support. ([2:54:41](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=10481))
- [Jason C. Ervin](https://www.chicagopolitics.org/ward/28) (alderperson): Asked the Park District for a list of TIF-funded projects and their completion status. ([2:49:26](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=10166)); Asked why the mortgage credit certificate program limits certain unit types, why participation is low, and how lenders join. ([3:24:46](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=12286)); Asked when the Holman Square buildings were built and which phase this rehabilitation covers. ([3:49:06](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=13746))
- [Monique L. Scott](https://www.chicagopolitics.org/ward/24) (alderperson): Asked for support of Holman Square Park improvements, noting nearby schools could use the fitness area and playground. ([2:57:50](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=10670)); Thanked the Department of Housing and said the Holman Square Phase IV project would bring jobs and strong housing to the ward. ([3:50:02](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=13802))
- [Ronnie L. Mosley](https://www.chicagopolitics.org/ward/21) (alderperson): Asked for support of the Renaissance Estates amendment so homeowners receive promised amenities on a vacant field. ([3:03:03](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=10983))
- [Gregory I. Mitchell](https://www.chicagopolitics.org/ward/7) (alderperson): Asked how the mortgage credit interacts with the mortgage interest deduction, unit eligibility, transferability and how lenders become participants. ([3:19:25](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=11965)); Said the lien assignment provision was unintentionally repealed and asked colleagues to restore it to return vacant buildings to homeowners. ([3:33:32](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=12812))
- [Leni Manaa-Hoppenworth](https://www.chicagopolitics.org/ward/48) (alderperson): Said Edgewater welcomes the 5853 North Broadway affordable housing project and asked for favorable consideration. ([4:03:13](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=14593))
- [Jessica L. Fuentes](https://www.chicagopolitics.org/ward/26) (alderperson): Said the 1539 North Pulaski project would reuse a long-vacant historic building and provide senior housing for residents on a waiting list, and asked for support. ([4:41:39](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=16899))

### Exchanges between members

- [1:39:40](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=5980) Alderperson Raymond A. Lopez thanked the chair before asking questions on the Winters settlement.
- [1:51:37](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=6697) Alderperson Raymond A. Lopez followed up on the point raised by his colleague from the Second Ward about clearing intersections.
- [2:02:11](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=7331) The chair recognized Vice Chair William Conway, who recused himself from the whistleblower item.
- [2:10:22](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=7822) The chair asked Alderperson Anthony Beale whether he wanted to say something, and he recused himself.
- [2:10:45](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=7845) The chair asked Alderperson Ronnie L. Mosley to renew his motion on the Lee Wilson settlement.
- [2:21:42](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=8502) Alderperson Nicholas Sposato said his colleague Ray Lopez was right about the Guerrero case but that he would support it.
- [2:54:30](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=10470) The chair commented on Ronan Park before Alderperson Rossana Rodríguez Sánchez spoke.
- [3:16:34](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=11794) Vice Chair William Conway said his question on purchase price limits connected to the chair's concern about who uses the program.
- [3:24:22](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=12262) Alderperson Jason C. Ervin clarified for Alderperson Gregory I. Mitchell that the mortgage credit is non-refundable but can be carried forward.
- [3:50:34](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=13834) Alderperson Monique L. Scott thanked Alderperson Jason C. Ervin for supporting the Holman Square project through TIF.
- [3:50:34](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=13834) Alderperson Monique L. Scott thanked Alderperson Walter R. Burnett for supporting the Holman Square project through TIF.
- [4:16:26](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=15386) The chair asked Alderperson Anthony Beale to let Alderperson Scott Waguespack speak first and allowed Beale to close.
- [4:28:31](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=16111) Alderperson Michelle A. Harris thanked the chair for working with the Eden operator.
- [4:29:10](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=16150) The chair thanked Alderperson Michelle A. Harris for her comments on the Eden operator.
- [4:41:38](https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936?t=16898) Alderperson Jessica L. Fuentes thanked the chair for her comments on the Pulaski building.

## Documents

- [Notice](https://www.chicagopolitics.org/files/clerk/meetingattachmentspublic/729f3d17-c098-f011-b4cb-001dd8054936.pdf)
- [Summary](https://www.chicagopolitics.org/files/clerk/meetingattachmentspublic/1f0958b1-238b-4304-8756-bdf8b479a356.pdf)
- [Agenda](https://www.chicagopolitics.org/files/clerk/meetingattachmentspublic/762ee852-4d08-4b47-a6cf-ede8aae360cd.pdf)

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Source: https://www.chicagopolitics.org/meeting/952152FF-BF98-F011-B4CB-001DD8054936 · Chicago Politics, an independent, nonpartisan tracker of the Chicago City Council. Guide for agents: https://www.chicagopolitics.org/llms.txt