Committee on Finance meeting, December 2, 2025
- When: Tue, Dec 2, 2025, 2:00 PM (Chicago time)
- Where: Academy for Global Citizenship, 4942 W 44 St, Chicago, IL 60638
- Status: Scheduled & Published
- Committee: Committee on Finance
- Video: https://vimeo.com/showcase/8928482?video=1142138848
- Transcript: full text (8,362 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 a public hearing at the Academy for Global Citizenship in the 22nd Ward on a proposed expansion of the boundaries of Chicago Enterprise Zone Two. Department of Planning and Development staff presented four proposed expansion areas: Leclaire Courts, Bronzeville Lakefront, Ford City Mall, and the 26th and Kostner / Little Village industrial corridor. Two public commenters spoke in support and asked how residents and small businesses could benefit. Members asked about housing phases and affordability, forgone sales tax and real estate transfer tax revenue, job estimates, accountability and clawbacks, transportation planning, and qualifying schools. No votes were taken on the expansion, which the chair said would go before the committee for a vote on December 4, 2025.
Topics: Enterprise Zone Two expansion, Leclaire Courts redevelopment, Bronzeville Lakefront, Ford City Mall redevelopment, Little Village industrial corridor, Tax exemptions and revenue, Affordable housing, Developer accountability, Public comment
Agenda items discussed
- 19:10 Motion to allow members to attend remotely under Rule 59: passed
- 19:59 Public comment: discussed
- 16:40 Public hearing on boundary expansion of Chicago Enterprise Zone Two: discussed
- 1:06:39 Motion to adjourn: passed
Alderpersons who spoke
- Pat Dowell (chair): Explained that the hearing on expanding Enterprise Zone Two is required by state statute and municipal code and that no votes would be taken. (16:40); Noted that TIF projects brought to the Finance Committee include clawback stipulations. (57:20); Asked which schools in the zone offer the industry-credential programs cited as a qualifying criterion. (1:02:28)
- Michael D. Rodriguez (alderperson): Described the Academy for Global Citizenship as the first phase of area redevelopment and said the enterprise zone includes two parts of the 22nd Ward. (31:33); Said the Cabrera redevelopment at Leclaire Courts would include affordable housing, a grocery store, early childhood education and small businesses and could be the first to use the zone. (33:59); Explained that phase one at Leclaire Courts has begun with a water project, that 183 units should start in 2026, and that later phases need additional funding. (40:03)
- Derrick G. Curtis (alderperson): Described the decline of Ford City Mall, now less than 50% occupied, and said the zone could support $250 million of investment and over 500 industrial jobs. (36:06); Said the Ford City redevelopment would add about $2 million per year to the city's tax roll. (1:01:41)
- Anthony J. Quezada (alderperson): Asked how many phases the Leclaire Courts project has and its completion timeline. (38:59); Asked how many former residents would be eligible to return and whether outreach had been done. (40:53); Asked about affordable unit requirements and the timeline for the Bronzeville Lakefront development. (41:30)
- William Conway (alderperson): Asked where the money for the enterprise zone benefits comes from and whether property taxes would be affected. (42:32); Asked how much real estate transfer tax revenue the city would forgo and said a cost-benefit analysis should be done. (43:51); Said that while facing a budget deficit the city should know the cost of revenue it gives up when weighing the project. (45:21)
- Jason C. Ervin (alderperson): Asked what the existing zone has produced and whether environmental impacts were considered, especially in the Little Village industrial corridor. (49:10); Asked whether staff had estimated jobs, tax revenue and cost-benefit for the expansion. (51:00)
- Andre Vasquez Jr. (alderperson): Said forgoing some tax revenue rather than spending city money is reasonable but raised concerns about holding developers accountable for execution through reporting and markers. (52:18); Asked whether there is a clawback of the exemption if a developer does not execute. (54:55); Asked whether transit and transportation improvements were being discussed with CDOT for the large developments. (55:33)
- David H. Moore (alderperson): Confirmed the Leclaire project was already approved and noted the redeveloped land will return to the tax rolls. (58:15); Asked about the timeframe to implement the zone and whether a project must already be in place. (59:13)
- Gregory I. Mitchell (alderperson): Asked for clarification on whether an enterprise zone can exist without prospective development. (1:00:58)
- Jeanette B. Taylor (alderperson): Stated Richards Career Academy is in the 20th Ward and asked whether the Leclaire Courts development on CHA land will all be CHA housing. (1:04:57); Asked whether the Leclaire units will be houses or apartments. (1:06:14)
Exchanges between members
- 31:08 The chair turned the floor over to Alderperson Michael D. Rodriguez to speak on the proposal.
- 35:48 Alderperson Michael D. Rodriguez thanked the chair.
- 38:31 Alderperson Derrick G. Curtis thanked Alderperson Michael D. Rodriguez for bringing the proposal forward.
- 38:31 Alderperson Derrick G. Curtis thanked the chair for bringing the proposal forward.
- 39:58 The chair told Alderperson Anthony J. Quezada that Alderperson Michael D. Rodriguez could answer his question on Leclaire phases.
- 40:03 Alderperson Michael D. Rodriguez answered Alderperson Anthony J. Quezada question about the Leclaire Courts phases and timeline.
- 49:10 Alderperson Jason C. Ervin referred to the point raised by Alderperson William Conway about understanding what the zone has done so far.
- 57:20 The chair responded to Alderperson Andre Vasquez Jr. clawback question by noting clawback stipulations in TIF agreements.
- 1:05:32 Alderperson Michael D. Rodriguez answered Alderperson Jeanette B. Taylor question about the share of public housing at Leclaire Courts.
- 1:06:08 Alderperson Jeanette B. Taylor asked Alderperson Michael D. Rodriguez whether public meant CHA and whether units would be houses or apartments.
- 1:06:34 Alderperson Jeanette B. Taylor thanked the chair.