# Committee on Finance meeting, December 16, 2025

- When: Tue, Dec 16, 2025, 11:00 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](https://www.chicagopolitics.org/committee/finance)
- Video: https://vimeo.com/showcase/8928482?video=1144986653
- Transcript: [full text](https://www.chicagopolitics.org/files/transcripts/1144986653.txt) (43,529 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 public comment period, then considered five agenda items, including a substitute revenue ordinance, a property-tax levy, and a bond authorization. The substitute revenue ordinance (item 5) and the property-tax levy (item 2) were both approved. The bond authorization was discussed but not voted on. The committee also addressed numerous questions and points of information from members.

Topics: public comment, 2026 revenue ordinance alternative, property tax levy for FY 2026, general-obligation bond authorization, budget efficiencies and revenue projections

### Agenda items discussed

- [1:18:09](https://www.chicagopolitics.org/meeting/DCEC1C7C-68D7-F011-8543-001DD8018EAF?t=4689) Item 1 – not discussed (agenda item not presented): discussed
- [1:18:28](https://www.chicagopolitics.org/meeting/DCEC1C7C-68D7-F011-8543-001DD8018EAF?t=4708) Item 2 – Substitute ordinance authorizing the FY 2026 property-tax levy for the Library Fund: passed
- [1:18:42](https://www.chicagopolitics.org/meeting/DCEC1C7C-68D7-F011-8543-001DD8018EAF?t=4722) Item 3 – Authorization of City General Obligation Bonds (FY 2026-2027): discussed
- [1:18:53](https://www.chicagopolitics.org/meeting/DCEC1C7C-68D7-F011-8543-001DD8018EAF?t=4733) Item 4 – (agenda item not detailed in transcript): discussed
- [1:18:59](https://www.chicagopolitics.org/meeting/DCEC1C7C-68D7-F011-8543-001DD8018EAF?t=4739) Item 5 – Substitute 2026 Municipal Code Revenue Ordinance (alternative budget): passed

### Alderpersons who spoke

- [Pat Dowell](https://www.chicagopolitics.org/ward/3) (chair): Called the committee to order and noted the chair’s presence. ([42:00](https://www.chicagopolitics.org/meeting/DCEC1C7C-68D7-F011-8543-001DD8018EAF?t=2520))
- [William Conway](https://www.chicagopolitics.org/ward/34) (vice chair): Asked for clarification on a procedural question. ([1:46:21](https://www.chicagopolitics.org/meeting/DCEC1C7C-68D7-F011-8543-001DD8018EAF?t=6381))
- [Raymond A. Lopez](https://www.chicagopolitics.org/ward/15) (alderperson): Raised a point of information about revenue assumptions. ([1:49:41](https://www.chicagopolitics.org/meeting/DCEC1C7C-68D7-F011-8543-001DD8018EAF?t=6581)); Spoke after the substitute ordinance vote, supporting the measure. ([4:27:50](https://www.chicagopolitics.org/meeting/DCEC1C7C-68D7-F011-8543-001DD8018EAF?t=16070))
- [Michelle A. Harris](https://www.chicagopolitics.org/ward/8) (alderperson)
- [Ronnie L. Mosley](https://www.chicagopolitics.org/ward/21) (alderperson)
- [Michael D. Rodriguez](https://www.chicagopolitics.org/ward/22) (alderperson)
- [Ruth Cruz](https://www.chicagopolitics.org/ward/30) (alderperson)
- [Samantha Nugent](https://www.chicagopolitics.org/ward/39) (alderperson): Introduced herself as President Pro Temp and stated she would vote ex-officio. ([43:05](https://www.chicagopolitics.org/meeting/DCEC1C7C-68D7-F011-8543-001DD8018EAF?t=2585))
- [Byron Sigcho-López](https://www.chicagopolitics.org/ward/25) (alderperson): Moved to permit remote participants. ([42:36](https://www.chicagopolitics.org/meeting/DCEC1C7C-68D7-F011-8543-001DD8018EAF?t=2556))
- [Byron Sigcho-López](https://www.chicagopolitics.org/ward/25) (alderperson): Moved to accept the substitute revenue ordinance. ([1:19:46](https://www.chicagopolitics.org/meeting/DCEC1C7C-68D7-F011-8543-001DD8018EAF?t=4786))
- [Desmon C. Yancy](https://www.chicagopolitics.org/ward/5) (alderperson)
- [Jeylú B. Gutiérrez](https://www.chicagopolitics.org/ward/14) (alderperson)
- [Stephanie D. Coleman](https://www.chicagopolitics.org/ward/16) (alderperson)
- [Ruth Cruz](https://www.chicagopolitics.org/ward/30) (alderperson)
- [Gilbert Villegas](https://www.chicagopolitics.org/ward/36) (alderperson)
- [Marty Quinn](https://www.chicagopolitics.org/ward/13) (alderperson)
- [Marty Quinn](https://www.chicagopolitics.org/ward/13) (alderperson): Voted yes on the substitute revenue ordinance. ([4:21:49](https://www.chicagopolitics.org/meeting/DCEC1C7C-68D7-F011-8543-001DD8018EAF?t=15709))
- [Monique L. Scott](https://www.chicagopolitics.org/ward/24) (alderperson): Co-explained the substitute ordinance. ([1:20:07](https://www.chicagopolitics.org/meeting/DCEC1C7C-68D7-F011-8543-001DD8018EAF?t=4807))
- [Nicole T. Lee](https://www.chicagopolitics.org/ward/11) (alderperson): Co-explained the substitute ordinance. ([1:20:07](https://www.chicagopolitics.org/meeting/DCEC1C7C-68D7-F011-8543-001DD8018EAF?t=4807))
- [Felix Cardona Jr.](https://www.chicagopolitics.org/ward/31) (alderperson)
- [William E. Hall](https://www.chicagopolitics.org/ward/6) (alderperson)
- [Matthew J. O'Shea](https://www.chicagopolitics.org/ward/19) (alderperson): Requested clarification about budget assumptions. ([1:49:41](https://www.chicagopolitics.org/meeting/DCEC1C7C-68D7-F011-8543-001DD8018EAF?t=6581))
- [Anthony J. Quezada](https://www.chicagopolitics.org/ward/35) (alderperson)

### Exchanges between members

- [1:49:41](https://www.chicagopolitics.org/meeting/DCEC1C7C-68D7-F011-8543-001DD8018EAF?t=6581) Alderman Raymond A. Lopez asked Alderman Anthony Beale for clarification on revenue assumptions.
- [1:50:04](https://www.chicagopolitics.org/meeting/DCEC1C7C-68D7-F011-8543-001DD8018EAF?t=6604) Alderman Anthony Beale responded to Alderman Raymond A. Lopez point of information.
- [4:21:49](https://www.chicagopolitics.org/meeting/DCEC1C7C-68D7-F011-8543-001DD8018EAF?t=15709) Alderman Marty Quinn voted in favor of the substitute revenue ordinance alongside Alderman Raymond A. Lopez.

## Documents

- [Summary](https://www.chicagopolitics.org/files/clerk/meetingattachmentspublic/0fe2aab8-dcb0-4ee7-b1a4-ce4d52c30277.pdf)
- [Notice](https://www.chicagopolitics.org/files/clerk/meetingattachmentspublic/1ba104a3-68d7-f011-8543-001dd8041b30.pdf)
- [Agenda](https://www.chicagopolitics.org/files/clerk/meetingattachmentspublic/32e115d6-2bc7-495f-9e7b-297e434ede34.pdf)

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Source: https://www.chicagopolitics.org/meeting/DCEC1C7C-68D7-F011-8543-001DD8018EAF · Chicago Politics, an independent, nonpartisan tracker of the Chicago City Council. Guide for agents: https://www.chicagopolitics.org/llms.txt