Committee on Finance meeting, April 13, 2026
- When: Mon, Apr 13, 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/1181636251
- Transcript: full text (27,660 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 held a TEFRA public hearing on the Lathrop Redevelopment Phase 1C bond issuance, approved several settlement authorizations, and adopted multiple bond and financing ordinances, including water revenue bonds, multifamily housing bonds, and a tobacco-tax resolution. Motions to allow remote participation and to approve routine reports also passed. The meeting concluded with a motion to adjourn.
Topics: Lathrop redevelopment TEFRA hearing, Settlement authorizations (Wordlaw, Reid), Water revenue bonds, Multifamily housing bonds and TIF, Hub 32 project financing, Workforce Solutions amendment, Tobacco tax authority resolution, Public comments
Agenda items discussed
- 9:47 TEFRA public hearing – Lathrop Redevelopment Phase 1C multifamily housing bonds: discussed
- 11:27 Motion to allow remote participation for Aldermen Irvin, Vasquez, Hopkins, and Mitchell: passed
- 36:32 March 2026 monthly Rule 45 report: passed
- 37:01 Department of Law communication reports (March 2026 verdicts, judgments, settlements): passed
- 37:43 Settlement order – Derrick & Camille Wordlaw case (Item 2A): passed
- 53:14 Settlement order – Carl Reid case (Item 2B): passed
- 1:02:06 Ordinance authorizing issuance of water revenue bonds (Series A, B, C): passed
- 1:51:59 Substitute ordinance – Lathrop Preservation Phase 1C multifamily housing bonds and TIF: passed
- 2:27:28 Substitute ordinance – Hub 32 multifamily loan, TIF loan, and parcel conveyance: passed
- 2:44:19 Substitute ordinance – Department of Housing financial assistance for 201 N Kedzie Ave: passed
- 2:43:59 Amendment to Workforce Solutions ordinance (expanding TIF coverage): passed
- 3:11:41 Direct introduction – Resolution urging state legislation to tax additional tobacco products: passed
- 3:20:05 Direct introduction – Permit for Children International charitable solicitation (2026): passed
Alderpersons who spoke
- Pat Dowell (chair): Acknowledged Aldermen Harris, Mitts, Rodriguez Sanchez, O'Shea, Burnett, and Rodriguez as joining the meeting. (21:42); Closed the TEFRA public hearing on the Lathrop bond plan. (26:23); Called Jessica Jackson to proceed with her public comment. (30:02)
- William Conway (chair (vice chair)): Moved to recommend approval of the March 2026 Rule 45 report. (36:46); Moved to recommend approval of the Wordlaw settlement (Item 2A). (52:59); Moved to recommend approval of the Carl Reid settlement (Item 2B). (1:01:36)
- Ronnie L. Mosley (alderperson): Proposed a motion to allow remote participation for four aldermen. (11:34)
- Raymond A. Lopez (alderperson): Asked whether the inadmissible aspects of the Wordlaw case apply to all motor vehicles. (44:13); Inquired whether a statute could cure the inadmissibility issue. (47:33); Requested data on the number of similar lawsuits in the city’s pipeline. (52:13)
- Jeanette B. Taylor (alderperson): Asked whether the injured motorcyclist was wearing a helmet. (42:37); Moved to accept the substitute ordinance for the Hub 32 project. (2:27:28)
- James M. Gardiner (alderperson): Moved to recommend approval of the March 2026 Rule 45 report. (36:46); Clarified the question about helmet admissibility for the Wordlaw case. (44:36); Stated that a statute could not cure the inadmissibility issue. (47:24)
- Matthew J. O'Shea (alderperson): Moved to approve the Wordlaw settlement (Item 2A). (52:59)
- Michelle A. Harris (alderperson): Co-sponsored the tobacco-tax resolution with the mayor. (3:12:07); Moved to approve the tobacco-tax resolution. (2:43:30)
- Scott Waguespack (alderperson): Expressed strong support for the Lathrop housing bond transaction. (2:11:56); Thanked the presenters and urged committee’s favorable consideration of the Lathrop item. (2:27:03)
- Jason C. Ervin (alderperson): Identified himself and requested data on MBE/WBE participation in risk-management contracts. (1:17:56)
- Nicholas Sposato (alderperson)
- Nicholas Sposato (alderperson): Asked the CFO about the PMO and construction-management contracts and their Chicago-headquartered firms. (51:18); Requested clarification on veteran-owned business participation goals in the Lathrop project. (1:46:42)
Exchanges between members
- 44:36 Alderman Raymond A. Lopez asked whether the inadmissible aspects of the Wordlaw case apply to all motor vehicles; Alderman Riley clarified the question.
- 47:30 Alderman Riley replied that a statute could not cure the inadmissibility issue raised by Alderman Raymond A. Lopez.