Committee on Finance meeting, November 14, 2023
- When: Tue, Nov 14, 2023, 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/showcase/8928482/video/884101640
- Transcript: full text (7,465 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, chaired by Alderperson Pat Dowell, first held two federally required TEFRA public hearings: one on Chicago Midway International Airport commercial paper notes of up to $250 million and one on up to $22.5 million in multifamily housing revenue bonds for the United Yards 1A affordable housing project in the 20th Ward. In its regular meeting, the committee recommended passage of an amended intergovernmental agreement with the Chicago Board of Education providing up to $13.95 million in TIF funds for a connecting link and heating and cooling upgrades at Kenwood Academy High School, and a one-year extension of permit fee waivers for the Board of Education. The United Yards 1A bond and TIF ordinance was held after Alderperson Jeanette B. Taylor said it did not reflect what the community had agreed to regarding the Goldblatt's building. Small claims orders and a charitable tag day permit were recommended in the omnibus, and Law Department settlement reports were placed on file.
Topics: TEFRA hearings, Midway Airport commercial paper, affordable housing bonds, tax increment financing, Kenwood Academy, CPS fee waivers, United Yards, small claims
Agenda items discussed
- 21:05 TEFRA public hearing on Chicago Midway International Airport commercial paper notes up to $250 million: discussed
- 34:13 TEFRA public hearing on multifamily housing revenue bonds up to $22.5 million for the United Yards 1A project: discussed
- 50:50 Amended intergovernmental agreement with the Chicago Board of Education for TIF funds for Kenwood Academy High School: passed
- 1:02:28 Multifamily housing revenue bonds, TIF and land sale for the United Yards 1A affordable housing project: held
- 1:11:27 Authorization of permit fee waivers or refunds for the Chicago Board of Education and its contractors: passed
- 1:14:08 Orders authorizing and denying payment of various small claims: passed
- 1:14:53 Charitable solicitation tag day permit for The Nature Conservancy: passed
- 1:15:26 Law Department reports of verdicts, judgments and settlements for October
Alderpersons who spoke
- Pat Dowell (chair): Read new sergeant-at-arms rules of decorum for public meetings. (19:15); Said the United Yards 1A item would be held and brought back when Alderperson Jeanette B. Taylor is satisfied. (1:10:47); Asked CPS for the total value of fee waivers it has received. (1:12:47)
- Jeanette B. Taylor (alderperson): Asked what the Kenwood link does for students, questioned spending about $13 million for a bridge, and asked about environmental costs and timing. (54:55); Said the United Yards 1A proposal is not what the community voted for because it omits the Goldblatt's building and the agreed merger with a local developer's project. (1:08:17); Said the project took longer due to community pushback and that a conversation is needed before it proceeds. (1:10:09)
- Gregory I. Mitchell (alderperson): Said he is a Kenwood alumnus and asked what balance remains in the TIF district after the project. (59:17)
- Lamont J. Robinson (alderperson): Supported the Kenwood project, noting long community and school advocacy, and asked CPS to use contractors that reflect the surrounding community. (1:00:17)
Exchanges between members
- 1:07:52 The chair invited Alderperson Jeanette B. Taylor to raise her concerns about the United Yards item.
- 1:10:47 The chair told Alderperson Jeanette B. Taylor the item would be held until she is satisfied.