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Committee on Finance

Monday, November 14, 2022 · 10:00 AM AM · City Hall - Council Chamber - Chicago, Illinois

TL;DR

The Chicago Finance Committee approved several significant housing and development initiatives, including affordable housing projects and grocery store rehabilitations in underserved neighborhoods. The committee also recommended multiple Tax Increment Financing (TIF) agreements to support community development and school infrastructure improvements.

Key Decisions

  • Affordable Senior Housing at Imani Village Passed
  • Grocery Store Rehabilitation in Multiple Neighborhoods Passed
  • School Infrastructure Improvements via TIF Passed
  • Settlement of Three Legal Cases Passed
  • Tax Increment Financing Project Amendments Passed

Agenda

  1. Attendance
  2. Approval of Rule 45 Report - __________
  3. 1 Judgment and settlement report for month of October 2022
    Report
    Action: Placed on File

    The Report was Placed on File.

  4. 2 Various small claims
    Claim
    Action: Recommended Do Not Pass

    The Claim was Recommended Do Not Pass.

  5. 3 Payment of various small claims
    Order
    Action: Recommended to Pass

    The Order was Recommended to Pass.

  6. 4 Discount transfer sale and new loan refinance regarding Churchview Supportive Living Facility LP and Greater Southwest Development Corporation utilizing multi-family housing revenue bonds to rehabilitate facility at 2626 W 63rd St
    Ordinance
    Action: Recommended to Pass

    The Ordinance was Recommended to Pass.

  7. 5 Redevelopment agreement with Senior Village Phase 1 LLC, SPM Properties & Development LLC, Trinity 95th and Cottage Grove Planned Community Development Series LLC utilizing Tax Incremental Financing (TIF) and Multi-Family Program funds for development of Imani Senior Village affordable living units at 9633 S Cottage Grove Ave
    Ordinance
    Action: Recommended to Pass

    The Ordinance was Recommended to Pass.

  8. 6 Reallocation of unused 2022 City bond volume cap to Chicago Housing Authority for rehabilitation of Albany Gaines apartments at 3030 W 21st Pl and 3700 W Congress Pkwy
    Ordinance
    Action: Recommended to Pass

    The Ordinance was Recommended to Pass.

  9. 7 Loan restructuring agreement with Lenore Y. Bedar for rehabilitation of six units at 3023 W Jackson Blvd/311 S Whipple St
    Ordinance
    Action: Recommended to Pass

    The Ordinance was Recommended to Pass.

  10. 8 Redevelopment agreement with Yellow Banana LLC and utilization of tax increment financing (TIF) assistance for acquisition, rehabilitation and operation of full-service grocery stores at 10700 S Halsted St, 2858 E 83rd St, 420 S Pulaski Rd, 4439 W 63rd St, 7240 S Stony Island Ave and 7908 S Halsted St
    Ordinance
    Action: Recommended to Pass

    The Ordinance was Recommended to Pass.

  11. 9 Redevelopment agreement with The Institute of Cultural Affairs utilizing tax incremental financing (TIF) assistance for rehabilitation of facility at 4750 N Sheridan Rd
    Ordinance
    Action: Recommended to Pass

    The Ordinance was Recommended to Pass.

  12. 10 Reciprocal grant agreement between Illinois Manufacturing Excellence Center and City of Chicago Department of Planning and Development to integrate services for implementation of manufacturing competitiveness initiatives
    Ordinance
    Action: Recommended to Pass

    The Ordinance was Recommended to Pass.

  13. 11 Intergovernmental agreement with Chicago Board of Education for Tax Increment Financing (TIF) assistance to renovate and construct new aquaponics classroom at Carl Schurz High School, 3601 N Milwaukee Ave
    Ordinance
    Action: Recommended to Pass

    The Ordinance was Recommended to Pass.

  14. 12 Intergovernmental agreement with Chicago Board of Education for Tax Increment Financing (TIF) assistance to replace plumbing system at Marie Sklodowska Curie Metropolitan High School, 4959 S Archer Ave
    Ordinance
    Action: Recommended to Pass

    The Ordinance was Recommended to Pass.

  15. 13 Amendment No. 3 to 79th Street Corridor Tax Increment Financing Redevelopment Project and Plan
    Ordinance
    Action: Recommended to Pass

    The Ordinance was Recommended to Pass.

  16. 14 Amendment No. 3 to Homan-Arthington Tax Increment Financing Redevelopment Project and Plan
    Ordinance
    Action: Recommended to Pass

    The Ordinance was Recommended to Pass.

  17. 15 Settlement agreement regarding case of Dalila Rivera v. City of Chicago and Carlos Ortiz, No. 19-L-2076
    Order
    Action: Recommended to Pass

    The Order was Recommended to Pass.

  18. 16 Settlement agreement regarding case of Larry Curtis v. City of Chicago and Joseph Scotoni, No. 21-cv-03121
    Order
    Action: Recommended to Pass

    The Order was Recommended to Pass.

  19. 17 Settlement agreement regarding case of Estate of Michael Elam, Jr., deceased, by Alice Martin, mother and Independent Administrator v. Chicago Police Officers Adolfo Bolanos and Guillermo Gama and the City of Chicago, No. 19-cv-04130
    Order
    Action: Recommended to Pass

    The Order was Recommended to Pass.