Committee on Finance meeting, February 14, 2024
- When: Wed, Feb 14, 2024, 9:30 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/912643200?share=copy
- Transcript: full text (18,325 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 Finance had no public commenters and approved its January 2024 report. It recommended passage of $16.4 million in TIF and a $4.25 million city loan for the 99-unit Parkside Phase 3 affordable housing development on former Cabrini-Green land in the 27th Ward, an intergovernmental agreement for up to $3.5 million in TIF for an artificial turf field and track at Julian High School in the 21st Ward, and an amended redevelopment agreement restructuring $13 million in TIF for the former Pioneer Bank building in the 26th Ward as a forgivable loan. Small claims payment and denial orders were recommended for the omnibus and January litigation reports were placed on file. The committee recommended four settlements: $195,000 for a police vehicle rear-end collision, $400,000 for a sergeant's Segway injuring a rally attendee, $425,000 for a crash during a 2015 police pursuit, and $3.25 million for the estate of Martina Stanley; Alderperson Marty Quinn was recorded as a no on the Segway and pursuit settlements. An item concerning the Earle School in the 15th Ward was held to the next meeting.
Topics: affordable housing, Cabrini-Green redevelopment, TIF funding, school athletic facilities, landmark rehabilitation, legal settlements, police pursuits, small claims
Agenda items discussed
- 16:06 Public comment
- 16:36 January 2024 committee report: passed
- 17:24 Financial assistance for Parkside Phase 3 affordable housing project, 27th Ward (substitute): passed
- 45:15 Intergovernmental agreement with the Board of Education for TIF funds for an artificial turf field at Percy Julian High School, 21st Ward (substitute): passed
- 52:24 Amended redevelopment agreement with Team Pioneros LLC for the former Pioneer Bank building, 26th Ward: passed
- 1:05:30 Orders authorizing payment of various small claims: passed
- 1:05:48 Orders denying payment of various small claims: passed
- 1:06:09 Reports of verdicts, judgments and settlements for January 2024
- 1:12:51 Settlement: Kevin Lusk v. Philip Renault and City of Chicago ($195,000): passed
- 1:15:18 Settlement: Aisha Hurston v. City of Chicago and Sgt. Darren Easterday ($400,000): passed
- 1:34:57 Settlement: Tony Pearson v. City of Chicago ($425,000): passed
- 1:43:57 Settlement: estate of Martina Stanley v. City of Chicago and Officer Brian Greene ($3.25 million): passed
- 1:48:18 Item concerning the Earle School, 15th Ward: held
Alderpersons who spoke
- Pat Dowell (chair): Commended the Parkside developer for using an African American general contractor. (38:51); Asked the Law Department how many doctors opined on complex regional pain syndrome in the Hurston case. (1:32:25); Announced that the Earle School item would be held to the next Finance Committee meeting. (1:48:18)
- William Conway (alderperson): Asked the interest terms of the Parkside TIF loan and questioned why the city lends at 0 to 3% when private lenders charge up to 12% in a high-value area. (27:46); Thanked Alderperson Walter R. Burnett for his explanation and said he appreciated that former Cabrini-Green residents benefit from the low-interest loan. (41:00); Confirmed that $1.625 million of the Pioneer Bank TIF loan would be forgiven annually starting in year three. (1:00:03)
- Walter R. Burnett (alderperson): Said Parkside is part of the public housing transformation begun over 26 years ago and that Cabrini-Green residents are 40% partners in the development. (33:09); Responded to the question about loan terms by explaining that CHA developments need layered subsidies, including TIF, because they serve very low-income residents. (35:11); Said this is the developer's final phase but several Cabrini-Green parcels remain undeveloped, and urged CHA to move while market-rate development is slow. (41:40)
- David H. Moore (alderperson): Asked how many CHA units are in Parkside Phase 3 and supported the project, citing the developer's record with minority contractors. (39:12); Commended Alderperson Ronnie L. Mosley and said the Julian High School field is the type of project TIF should fund, and moved passage. (49:21)
- Jeanette B. Taylor (alderperson): Asked whether Parkside is the final phase of the Cabrini-Green transformation and what percentage is complete. (41:27); Said the Plan for Transformation is not discussed enough and asked for the unit breakdown by CHA, affordable and market rate. (43:27)
- Ronnie L. Mosley (alderperson): Said the Julian High School field had been a top priority for alumni, administrators and students and would also serve community health on the far South Side. (50:33)
- Jason C. Ervin (alderperson): Asked why the Pioneer Bank funding is structured as a loan rather than a grant. (1:00:45); Questioned the $400,000 Segway settlement, saying the facts were unclear and asking why the city would settle, while expressing reluctance to risk a trial. (1:22:57)
- Jessica L. Fuentes (alderperson): Praised the Pioneer Bank developers for community engagement and preserving a landmark vacant for nearly two decades. (1:01:25); Said the project will provide youth programming in an area with high violence, bring a Latino-led firm and jobs to Humboldt Park, and precede affordable housing on nearby parcels. (1:03:07)
- Nicholas Sposato (alderperson): Said he supported the Segway settlement but questioned the unidentified witness and characterized the incident as an accident rather than willful conduct. (1:17:54)
- Chris Taliaferro (alderperson): Asked whether the sergeant was on duty and whether the settlement resolves claims against him individually and as an employee. (1:20:18); Asked how the pursuit policy then in effect treated pursuits of stolen versus hijacked vehicles. (1:41:48)
- Scott Waguespack (alderperson): Asked the original demand in the Segway case, whether comparable verdicts involved the city, whether the city retained its own expert, and whether settling sets a precedent. (1:27:54)
- Daniel La Spata (alderperson): Said he initially shared the skepticism but considered the settlement reasonable because a patient would not undergo a permanent implant for a minor injury, and moved passage. (1:33:27)
- Brian Hopkins (alderperson): Asked whether the fleeing driver's share of liability was analyzed and how the stolen-versus-carjacked distinction mattered, then said he would support the settlement. (1:37:18)
Exchanges between members
- 35:11 Alderperson Walter R. Burnett responded to Alderperson William Conway question about loan terms by explaining CHA development financing.
- 38:51 The chair thanked Vice Mayor Walter R. Burnett and commended the project's general contractor.
- 39:39 Alderperson David H. Moore said he agreed with what Alderperson Walter R. Burnett said about the developer and project.
- 41:00 Alderperson William Conway thanked Alderperson Walter R. Burnett for his explanation.
- 41:33 Alderperson Walter R. Burnett was asked to answer Alderperson Jeanette B. Taylor question on remaining Cabrini-Green phases.
- 41:40 Alderperson Walter R. Burnett answered Alderperson Jeanette B. Taylor that several Cabrini-Green parcels remain to be developed.
- 43:27 Alderperson Jeanette B. Taylor thanked Alderperson Walter R. Burnett and said she wanted to talk further about the Plan for Transformation.
- 45:04 The chair congratulated Vice Mayor Walter R. Burnett after the Parkside item passed.
- 49:24 Alderperson David H. Moore commended Alderperson Ronnie L. Mosley on the Julian High School field project.
- 51:33 Alderperson Ronnie L. Mosley responded to his 17th Ward colleague, Alderperson David H. Moore, about attending games at the new field.
- 1:00:45 Alderperson Jason C. Ervin thanked the chair when recognized.
- 1:04:57 The chair thanked Alderperson Jessica L. Fuentes and congratulated her after the Pioneer Bank item passed.
- 1:19:27 Alderperson Nicholas Sposato asked Alderperson Byron Sigcho-López to move over so he could see the witness.
- 1:27:48 The chair thanked Alderperson Jason C. Ervin and recognized Alderperson Scott Waguespack.
- 1:39:54 The chair thanked Alderperson Brian Hopkins and recognized Vice Chair William Conway.