Committee on Finance meeting, March 13, 2026
- When: Fri, Mar 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/showcase/8928482?video=1173329934
- Transcript: full text (18,174 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 opened with a TEFRA public hearing on up to $30 million in multifamily housing revenue bonds for the Prairie District Apartments at 1801 South Wabash, then heard four public commenters, including the daughter of a woman killed in a 2017 crash involving a police pursuit. The committee recommended approval of a $350,000 settlement involving a traffic circle with missing signs and a $27 million settlement in the pursuit crash case, after Law Department officials explained why they recommended more than the first jury's verdict. It recommended approval of permit fee waivers for Public Building Commission projects, multifamily funds for Park Manor Senior Residences in the 6th Ward, TIF amendments and agreements for Avondale, Clarendon and Hermosa Parks and the Woodson Elementary playground, a loan increase for the Prairie District Apartments, and a bond inducement for Morgan Park Commons. Alderperson Raymond A. Lopez was recorded as a no on several park and school TIF items while raising concerns about debts owed to the city by sister agency employees, and Alderperson Anthony Beale was recorded as a no on the Morgan Park Commons item.
Topics: legal settlements, police pursuit, affordable housing, senior housing, TIF park improvements, sister agency debt, housing revenue bonds, permit fee waivers, development costs
Agenda items discussed
- 5:12 TEFRA hearing on multifamily housing revenue bonds for Prairie District Apartments, 1801 South Wabash: discussed
- 28:45 February 2026 Rule 45 report: passed
- 29:27 Department of Law report of verdicts, judgments and settlements for February
- 29:58 Settlement: Yanoushatus v. City of Chicago, $350,000: passed
- 36:39 Settlement: Harrell estate and Kimberlyn Myers v. City of Chicago, $27 million: passed
- 56:10 Permit fee waivers for Public Building Commission projects, 2026-2031 (substitute ordinance): passed
- 1:00:43 Multifamily funds for Park Manor Senior Residences of Chatham, 8320 South King Drive: passed
- 1:27:06 First amendment to Park District IGA for Kennedy-Kimball TIF funds for Avondale Park: passed
- 1:39:35 Third amendment to Park District IGA for Montrose-Clarendon TIF funds for Clarendon Park: passed
- 1:42:20 Park District IGA for Northwest Industrial TIF funds for Hermosa Park: passed
- 1:44:49 Board of Education IGA for TIF funds for Carter G. Woodson South Elementary playground: passed
- 1:50:43 Increase in multifamily loan funds and housing revenue bonds for Prairie District Apartments: passed
- 1:54:56 Bond inducement for Morgan Park Commons Phase One, 11420 South Halsted: passed
- 2:09:40 Orders authorizing and denying payment of small claims
- 2:10:17 Charitable solicitation on the public way for the NAACP: passed
Alderpersons who spoke
- Pat Dowell (chair): Expressed sympathy to Kimberlyn Myers for her loss after her public comment. (24:57); Told Alderperson Raymond A. Lopez that members had an opportunity to speak with CDOT directly and would continue to have that offered. (35:16); Asked whether the EV charging stations at the senior building are required and whether they would be open to the public. (1:15:47)
- Marty Quinn (alderperson): Asked whether there was a stop sign at the traffic circle intersection. (33:14)
- Raymond A. Lopez (alderperson): Said departments repeatedly know about hazards for months without acting and that missing traffic signs create ongoing lawsuit exposure. (33:45); Said he would support the settlement but asked that departments be brought in to explain how they are addressing the issue. (34:53); Questioned a per-unit cost of about $628,000 for mostly one-bedroom units, comparing it to new houses built in Back of the Yards. (1:20:15)
- Chris Taliaferro (alderperson): Expressed condolences and asked whether the $27 million settlement resolves all claims arising from the crash. (50:19)
- William Conway (alderperson): Asked whether the city or the plaintiff appealed the first verdict. (51:13); Said the officers' pursuit appeared reasonable and asked whether the first jury found willful and wanton conduct. (53:42); Said that based on the presentation the settlement sounds reasonable and encouraged colleagues to support it. (54:24)
- Scott Waguespack (alderperson): Asked for the expected cost of waived permit fees for each sister agency in the coming year. (58:10)
- Gilbert Villegas (alderperson): Asked whether Public Building Commission work with CDOT is included in the list of projects. (59:26); Asked what extra cost results from all-electric construction compared with gas. (1:10:43); Said an ordinance addressing the more than $23 million owed to the city is awaiting final responses and may be voted on in April or May. (1:33:48)
- William E. Hall (alderperson): Said the Park Manor project ends decades of a vacant lot and brings new families into the ward. (1:12:27); Agreed to look at making EV charging available to the public. (1:18:31)
- Michelle A. Harris (alderperson): Said aging residents in the 6th, 7th and 8th Wards need senior housing, predicting thousands of applicants, and moved do pass. (1:13:02)
- Anthony Beale (alderperson): Asked whether gas was an option and whether the council voted on the all-electric requirement. (1:14:30); Asked how much private equity is in the Park Manor project, noting the general partner equity is $100. (1:15:19); Asked why the Park District did not use recent TIF surplus funds and said too many projects are fully funded by the city. (1:34:53)
- Gregory I. Mitchell (alderperson): Asked what the area median income is in the Chatham area. (1:17:17)
- Nicole T. Lee (alderperson): Questioned whether 11 resident-only EV parking spots make sense for low-income seniors and suggested public access or regular parking. (1:17:41)
- Anthony J. Quezada (alderperson)
- Angela Clay (alderperson): Said the Clarendon Park field house rehab supports a safer community and the TIF will complete the project. (1:49:57)
- Ronnie L. Mosley (alderperson): Said the Morgan Park Commons site has had many community meetings. (2:05:14); Said the project diversifies housing in a single-family area for seniors and newcomers and would activate a site vacant for about 15 years. (2:07:31)
Exchanges between members
- 35:16 The chair responded to Lopez that members have had and will have opportunities to question CDOT directly.
- 54:37 The chair thanked Vice Chair William Conway for his questions.
- 1:10:38 Villegas congratulated Hall on the Park Manor project.
- 1:12:20 Conway congratulated Hall on the development.
- 1:13:02 Harris commended Hall on the project and spoke to the need for senior housing.
- 1:14:23 Beale congratulated Hall before raising questions.
- 1:18:27 The chair asked Hall whether he would consider opening EV charging to the public.
- 1:18:31 Hall agreed to look at Lee's suggestion about public EV charging access.
- 1:33:22 The chair clarified the debt is owed by employees while saying she agreed with Lopez's point.
- 1:33:48 Villegas thanked Lopez for the question and described a pending ordinance on debts owed to the city.
- 1:36:58 The chair told Beale his point was taken but that fully city-funded projects are not the rule.
- 1:38:39 The chair thanked Quezada and congratulated him on the Avondale Park project.
- 1:49:35 The chair congratulated Clay on Clarendon Park and invited her to speak.
- 2:05:06 The chair referred Beale's question about community meetings to Mosley.
- 2:05:14 Mosley answered Beale that the site has had many community meetings.
- 2:07:31 Mosley responded to Beale's point about a single-family community by describing how the project diversifies housing.