Committee on Economic, Capital and Technology Development meeting, July 9, 2026
- When: Thu, Jul 9, 2026, 10:30 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=1208175670
- Transcript: full text (5,973 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 heard three public commenters, approved its June 2026 monthly report, and recommended a slate of special service area appointments and reappointments after several appointees introduced themselves. The committee recommended an amendment to the 2026 budget of the Lincoln Square special service area to add a $49,055 TIF rebate, and a Class L tax incentive for the rehabilitation of the landmark building at 2 North Riverside Plaza after questions on contracting and vacancy. A resolution calling for a hearing on revoking tax incentives whose purpose is not fulfilled was held. A resolution supporting a U.S. partnership with Taiwan and a trade and tourism office was also held at the request of Alderperson Nicole T. Lee.
Topics: special service areas, SSA appointments, Lincoln Square SSA budget, Class L tax incentive, 2 North Riverside Plaza, landmark rehabilitation, tax incentive revocation, Taiwan trade resolution, public comment
Agenda items discussed
- 27:42 Public comment
- 39:25 Approval of June 2026 monthly report: passed
- 39:56 Appointments and reappointments to special service area commissions: passed
- 54:58 Amendment of Special Service Area No. 21 2026 budget and service provider agreement with Lincoln Square Ravenswood Chamber of Commerce (substitute): passed
- 58:35 Class L tax incentive for property at 2 North Riverside Plaza: passed
- 1:10:24 Resolution calling for hearing on application of Municipal Code Section 2-45-165 granting City Council authority to revoke tax incentives: held
- 1:11:24 Resolution expressing support for U.S. partnership with Taiwan and a formalized trade and tourism office: held
Alderpersons who spoke
- Derrick G. Curtis (chair): Said he had toured the 2 North Riverside Plaza building and described it as having a lot of potential. (1:05:36); Said he was holding the resolution on revoking tax incentives. (1:10:45)
- Gregory I. Mitchell (alderperson): Asked who would serve as general contractor on the 2 North Riverside Plaza project and how the developer will approach MBE participation, and asked that outreach information be shared with alderpersons. (1:06:02)
- Scott Waguespack (alderperson): Asked about the building's market value, purchase price, current vacancy compared to the Loop, and what kinds of tenants the redesign aims to attract. (1:07:16)
- Raymond A. Lopez (alderperson): Said he would not introduce the substitute for the Taiwan resolution and deferred to Alderperson Nicole T. Lee comments on next steps. (1:11:56)
- Nicole T. Lee (alderperson): Said she was not consulted before the Taiwan resolution was introduced and asked that it be held out of respect for her community. (1:12:15); Described the resolution as a complex foreign policy matter, said council members should be educated on its implications, and offered to work with the sponsor on more information. (1:13:05)
Exchanges between members
- 1:07:06 Alderperson Gregory I. Mitchell thanked the chair after his questions.
- 1:07:10 The chair thanked Alderperson Gregory I. Mitchell for his questions.
- 1:09:40 Alderperson Scott Waguespack thanked the chair after his questions.
- 1:12:04 Alderperson Raymond A. Lopez deferred to Alderperson Nicole T. Lee comments on the Taiwan resolution.
- 1:12:15 Alderperson Nicole T. Lee thanked Alderperson Raymond A. Lopez before asking that the resolution be held.