Committee on Economic, Capital and Technology Development meeting, June 12, 2025
- When: Thu, Jun 12, 2025, 10:00 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/1092572041
- Transcript: full text (10,951 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 heard four public commenters, two of whom, representing Unite Here Local 1, urged a no vote on a Class L tax incentive for 111 West Monroe. The committee approved its May 2025 monthly report, three Special Service Area commissioner appointments and reappointments, and an amended 2025 budget for SSA 34 Uptown using a TIF surplus. It recommended the Class L incentive for the rehabilitation of the former Harris Trust and Savings Bank at 111 West Monroe as a hotel, with the chair saying the developer and Unite Here would continue discussions before the City Council meeting. The committee also recommended Class 6B incentives for the industrial rehab of 1300 North North Branch Street and for the Roosevelt-Kostner industrial and community center development at 4300 West Roosevelt Road.
Topics: Class L tax incentive, Class 6B tax incentive, special service areas, hotel redevelopment, industrial development, labor, public comment
Agenda items discussed
- 26:33 May 2025 monthly report: passed
- 27:30 Appointments and reappointment to Special Service Area Commissions 8 (Lake View East), 25 (Little Village) and 47 (47th Street and Cottage Grove): passed
- 34:39 Amended 2025 service provider agreement and budget for Special Service Area 34 Uptown: passed
- 36:48 Class L tax incentive for property at 111 West Monroe Street: passed
- 48:22 Class 6B tax incentive and redevelopment agreement with 1300 North Branch LLC for property at 1300 North North Branch Street: passed
- 56:21 Class 6B tax incentive and redevelopment agreement for property at 4300 West Roosevelt Road: passed
Alderpersons who spoke
- Gilbert Villegas (chair): Said that after speaking with Alderperson William Conway, the Class L item would be passed out of committee while the development team and Unite Here Local 1 continue discussions before the City Council meeting. (43:18); Asked the developer to confirm he was one of the first hotel developers to sign a union neutrality agreement. (44:30); Thanked the developer for investing in repurposing vacant commercial space to keep downtown vibrant. (47:33)
- Nicole T. Lee (alderperson): As acting chair, allowed a public commenter to proceed with his remarks. (19:21); Said the Roosevelt-Kostner project makes good use of empty land and would be a catalytic anchor for the community, and expressed support. (1:04:21)
- Walter R. Burnett (alderperson): Asked whether 111 West Monroe is part of the city's LaSalle Street reimagined initiative with affordable housing, and confirmed the developer has a 50/50 African-American partner and a diverse joint-venture contractor. (41:18); Said the 1300 North Branch developer agreed to work with minority contractors and residents in his ward and that he supports the incentive. (52:06)
- Gregory I. Mitchell (alderperson): Asked the developer to clarify which project the McHugh joint venture applied to, citing his earlier questions about MBE participation. (45:45)
- Scott Waguespack (alderperson): Said he supports the 1300 North Branch incentive and asked what specific modifications are needed to convert the specialized food science facility for general industrial users. (53:12); Recalled the site's past as a high-security food research facility when it was in the 32nd Ward and moved to pass the item. (54:48)
- Michael D. Rodriguez (alderperson): Said the Little Village SSA reappointee had mentored him and thanked her for her service. (32:36)
Exchanges between members
- 32:33 The chair recognized Alderperson Michael D. Rodriguez during the SSA appointments.
- 41:09 The chair recognized Vice Mayor Walter R. Burnett for questions on 111 West Monroe.
- 43:03 The chair thanked Vice Mayor Walter R. Burnett after he expressed support.
- 45:42 The chair recognized Alderperson Gregory I. Mitchell.
- 47:30 Alderperson Gregory I. Mitchell thanked the chair after his question was answered.
- 47:33 The chair thanked Alderperson Gregory I. Mitchell.
- 51:54 The chair recognized Vice Mayor Walter R. Burnett to speak in support of the 1300 North Branch item.
- 52:06 Vice Mayor Walter R. Burnett thanked the chair.
- 53:09 The chair thanked Vice Mayor Walter R. Burnett and recognized Alderperson Scott Waguespack.
- 53:12 Alderperson Scott Waguespack thanked Vice Mayor Walter R. Burnett before asking his question.
- 55:25 The chair thanked Alderperson Scott Waguespack and renewed his motion.
- 1:04:18 The chair recognized Alderperson Nicole T. Lee.
- 1:04:21 Alderperson Nicole T. Lee thanked the chair before commenting.