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Committee on Finance

Monday, December 12, 2022 · 10:00 AM AM · City Hall - Council Chamber - Chicago, Illinois

TL;DR

The Chicago Committee on Finance approved multiple ordinances related to Tax Increment Financing (TIF) projects, including park improvements, a new high school, and the Red Line Extension Project. These initiatives aim to support urban development, transportation infrastructure, and community facilities across various Chicago neighborhoods.

Key Decisions

  • Red Line Extension Project Passed
  • New Near South High School Construction Passed
  • Chicago Market Building Rehabilitation Passed
  • Park Headquarters and Amenities at 4800 S Western Ave Passed
  • Pulaski Corridor TIF Project Expansion Passed

Agenda

  1. Attendance
  2. Approval of Rule 45 Report
  3. 1 Intergovernmental agreement with Chicago Park District to provide Tax Increment Financing (TIF) funds for construction of park with headquarters facility, fieldhouse, multi-purpose community rooms, outdoor sport and play site amenities at 4800 S Western Ave
    Ordinance
    Action: Recommended to Pass

    The Ordinance was Recommended to Pass.

  4. 2 Intergovernmental redevelopment agreement with Chicago Cooperative d.b.a. Chicago Market - a Community Co-op, lease tenant with Chicago Transit Authority, for rehabilitation and operation of historic Gerber Building at 4620 N Broadway as full-service grocery store
    Ordinance
    Action: Recommended to Pass

    The Ordinance was Recommended to Pass.

  5. 3 Redevelopment agreement with 4300 Roosevelt LLC and provision of Tax Increment Financing (TIF) assistance for construction of facilities and parking area at 4300 W Roosevelt Rd and 4301 W Fifth Ave
    Ordinance
    Action: Recommended to Pass

    The Ordinance was Recommended to Pass.

  6. 4 Issuance and transfer of various Tax Increment Financing (TIF) funds to augment Metra realignment and 15th Street components overseen by Chicago Department of Transportation for University of Illinois Discovery Partners Institute project at 1501 S Wells St
    Ordinance
    Action: Recommended to Pass

    The Ordinance was Recommended to Pass.

  7. 5 Waiver of fees for Chicago Board of Education and its contractors for ongoing improvements on buildings and facilities operated for public or governmental use
    Ordinance
    Action: Recommended to Pass

    The Ordinance was Recommended to Pass.

  8. 6 Intergovernmental agreement with Chicago Board of Education to provide Tax Increment Financing (TIF) funds for land acquisition from Chicago Housing Authority and construction of new Near South High School at 2450 S State St
    Ordinance
    Action: Recommended to Pass

    The Ordinance was Recommended to Pass.

  9. 7 Second amendment to Kinzie Industrial Conservation Redevelopment Project regarding project completion dates and retirement of Tax Increment Financing (TIF) debt obligations
    Ordinance
    Action: Recommended to Pass

    The Ordinance was Recommended to Pass.

  10. 8 Approval of third amendment to Pulaski Corridor Tax Increment Financing (TIF) project and plan
    Ordinance
    Action: Recommended to Pass

    The Ordinance was Recommended to Pass.

  11. 9 Designation of third amendment expanding Pulaski Corridor Tax Increment Financing (TIF) Redevelopment Area
    Ordinance
    Action: Recommended to Pass

    The Ordinance was Recommended to Pass.

  12. 10 Adoption of third amendment to expanded Pulaski Corridor Tax Increment Financing (TIF) Redevelopment Area
    Ordinance
    Action: Recommended to Pass

    The Ordinance was Recommended to Pass.

  13. 11 Designation of Transit Facility Improvement Area for implementation of Red Line Extension Project
    Ordinance
    Action: Recommended to Pass

    The Ordinance was Recommended to Pass.

  14. 12 Approval of redevelopment plan for Red Line Extension Redevelopment Project Area
    Ordinance
    Action: Recommended to Pass

    The Ordinance was Recommended to Pass.

  15. 13 Designation of Red Line Extension Redevelopment Project Area as Tax Increment Allocation Redevelopment Project Area
    Ordinance
    Action: Recommended to Pass

    The Ordinance was Recommended to Pass.

  16. 14 Adoption of Tax Increment Allocation Financing (TIF) project costs within Red Line Extension project
    Ordinance
    Action: Recommended to Pass

    The Ordinance was Recommended to Pass.

  17. 15 Intergovernmental development agreement with Chicago Transit Authority for use of Tax Incremental Financing (TIF) funds for Red Line Expansion project
    Ordinance
    Action: Recommended to Pass

    The Ordinance was Recommended to Pass.

  18. 16 Amendment of Municipal Code by repealing Section 3-92-075 regarding pensions
    Ordinance
  19. 17 Designation of municipal depositories of City of Chicago and Chicago Board of Education for Fiscal Year 2023
    Ordinance
    Action: Recommended to Pass

    The Ordinance was Recommended to Pass.

  20. CL2022-1085 Various small claims
    Claim
    Action: Recommended to Pass

    The Claim was Recommended to Pass.

  21. Or2022-375 Payment of various small claims
    Order
    Action: Recommended to Pass

    The Order was Recommended to Pass.

  22. Or2022-376 Issuance of tag day permit(s) for American Civil Liberties Union
    Order
    Action: Recommended to Pass

    The Order was Recommended to Pass.

  23. Or2022-377 Settlement agreement regarding case of Jake Soprych v. City of Chicago, et al, No. 19-L-2099
    Order
    Action: Recommended to Pass

    The Order was Recommended to Pass.

  24. Or2022-378 Settlement agreement regarding case of Alberta Wilson, individually and as parent of Roy Smart, Royal Smart and Royalty Smart, minors v. City of Chicago, et al, No. 19-L-8047
    Order
    Action: Recommended to Pass

    The Order was Recommended to Pass.

  25. Or2022-379 Settlement agreement regarding case of Manuel Barocio v. Chicago Police Officers Marcos Hernandez, Christopher Ware, David Koch, and Enrique Pacheco and the City of Chicago, et al, No. 19-cv-8105
    Order
    Action: Recommended to Pass

    The Order was Recommended to Pass.