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
- Video: https://vimeo.com/showcase/8928482?video=1144986653
- Transcript: full text (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 Item 1 – not discussed (agenda item not presented): discussed
- 1:18:28 Item 2 – Substitute ordinance authorizing the FY 2026 property-tax levy for the Library Fund: passed
- 1:18:42 Item 3 – Authorization of City General Obligation Bonds (FY 2026-2027): discussed
- 1:18:53 Item 4 – (agenda item not detailed in transcript): discussed
- 1:18:59 Item 5 – Substitute 2026 Municipal Code Revenue Ordinance (alternative budget): passed
Alderpersons who spoke
- Pat Dowell (chair): Called the committee to order and noted the chair’s presence. (42:00)
- William Conway (vice chair): Asked for clarification on a procedural question. (1:46:21)
- Raymond A. Lopez (alderperson): Raised a point of information about revenue assumptions. (1:49:41); Spoke after the substitute ordinance vote, supporting the measure. (4:27:50)
- Michelle A. Harris (alderperson)
- Ronnie L. Mosley (alderperson)
- Michael D. Rodriguez (alderperson)
- Ruth Cruz (alderperson)
- Samantha Nugent (alderperson): Introduced herself as President Pro Temp and stated she would vote ex-officio. (43:05)
- Byron Sigcho-López (alderperson): Moved to permit remote participants. (42:36)
- Byron Sigcho-López (alderperson): Moved to accept the substitute revenue ordinance. (1:19:46)
- Desmon C. Yancy (alderperson)
- Jeylú B. Gutiérrez (alderperson)
- Stephanie D. Coleman (alderperson)
- Ruth Cruz (alderperson)
- Gilbert Villegas (alderperson)
- Marty Quinn (alderperson)
- Marty Quinn (alderperson): Voted yes on the substitute revenue ordinance. (4:21:49)
- Monique L. Scott (alderperson): Co-explained the substitute ordinance. (1:20:07)
- Nicole T. Lee (alderperson): Co-explained the substitute ordinance. (1:20:07)
- Felix Cardona Jr. (alderperson)
- William E. Hall (alderperson)
- Matthew J. O'Shea (alderperson): Requested clarification about budget assumptions. (1:49:41)
- Anthony J. Quezada (alderperson)
Exchanges between members
- 1:49:41 Alderman Raymond A. Lopez asked Alderman Anthony Beale for clarification on revenue assumptions.
- 1:50:04 Alderman Anthony Beale responded to Alderman Raymond A. Lopez point of information.
- 4:21:49 Alderman Marty Quinn voted in favor of the substitute revenue ordinance alongside Alderman Raymond A. Lopez.