[remote or in person] Committee on Economic, Capital and Technology Development

Chicago City Council
Politics

Monday, Jan. 13, 2025
11:00 a.m. — 1:00 p.m. CST

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121 N LaSalle St Chicago 60602 (Directions)

City Hall, 2nd floor, Room 201A

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Reporting

Edited and summarized by the Chicago - IL Documenters Team

Note-taking by Katrina Herring

The committee approved a class 6(b) tax incentive for the property at 455 N. Ashland Ave. in the West Town neighborhood. The property will be used by NanoGraf Corporation, a Chicago-based and DOD-supported company which manufactures lithium-ion batteries.

Live reporting by Anson Tong

The committee approved a class 6(b) tax incentive for the property at 455 N. Ashland Ave. in the West Town neighborhood. The property will be used by NanoGraf Corporation, a Chicago-based and DOD-supported company which manufactures lithium-ion batteries.

Anson Tong @ansonjtong 2/29
The meeting is scheduled to begin at 11am. The agenda for the meeting can be found here: …storagev1.blob.core.usgovcloudapi.net/meetingattachm…
…storagev1.blob.core.usgovcloudapi.net/meetingattachm…
Anson Tong @ansonjtong 3/29
The list of members of this committee can be found here: chicago.councilmatic.org/committee/comm…
chicago.councilmatic.org/committee/comm…
Anson Tong @ansonjtong 4/29
The meeting hasn't yet officially started; people are still gathering and moving around the room.
Anson Tong @ansonjtong 5/29
The meeting has now been called to order.
Anson Tong @ansonjtong 6/29
No written comments have been received. Public comment period will begin now.
Anson Tong @ansonjtong 7/29
Public speaker #1 points out that he is the only speaker here. He highlights the agenda item involving a tax incentive in Ald. Burnett's ward (Ward 27). He questions who is monitoring such programs and ensures that businesses do what they say they do.
Anson Tong @ansonjtong 8/29
Public comment period ends. There is a motion for the approval of the December 2024 Rule 45 Monthly Report. This passes.
Anson Tong @ansonjtong 9/29
Mr. Aaron Fogle, Financial Planning Analyst from the Department of Planning and Development (DPD), presents on a Class 6(b) tax incentive for property at 455 N Ashland Ave for partial development as manufacturing facility.
Anson Tong @ansonjtong 10/29
The property has been vacant since the end of 2020, at the expiration of the previous tenant's lease.
Anson Tong @ansonjtong 11/29
Anson Tong @ansonjtong 12/29
As shown above, estimated tax savings are $2.7 million dollars and construction would be expected to start upon approval and completed in Q3 of 2025. The project is being financed 100% with equity.
Anson Tong @ansonjtong 13/29
Detailed tax analysis impact is shown here.
Anson Tong @ansonjtong 14/29
DPD is in support of this project because it supports a Chicago company, preserving and creating jobs.
Anson Tong @ansonjtong 15/29
Ald. Burnett has provided a letter of support for this project.
Anson Tong @ansonjtong 16/29
Ald. Mitchell asks to hear more information about the company, NanoGraf, including the demographics.
Anson Tong @ansonjtong 17/29
Connor Hund, COO of NanoGraf, responds explaining that NanoGraf works on lithium ion batteries. They work with the military. They hope to be involved in electric vehicles. They have 37 full-time employees and hope to hire 50 more. They're currently located two blocks away.
Anson Tong @ansonjtong 18/29
Hund notes that they are a relatively diverse company, with operators, technicians, engineers, hourly workers, non-exempt employees, leadership, with 8 female employees and multiple employees from diverse races, genders.
Anson Tong @ansonjtong 19/29
Ald. Mitchell inquires about the nature of the new jobs being created by the approval of this site. Hund responds that most of these jobs will be technical and "geared towards operational jobs."
Anson Tong @ansonjtong 20/29
Ald. Mitchell asks whether NanoGraf has any engagements with Chicago Public Schools (CPS) or similar types of educational outreach and pipeline work. Hund (NanoGraf COO) noted that they have hosted CPS students before and are interested in participating in the community.
Anson Tong @ansonjtong 21/29
Ald. Mitchell emphasizes the importance of getting involved with CPS schools, not just the well-known CPS schools, to introduce technologies to younger kids. Ald. Mitchell offers assistance on future endeavors of this nature.
Anson Tong @ansonjtong 22/29
Ald. Napolitano asks about waste abatement in the area, given residents nearby. Hund responds that they are in compliance, are not high emitters, and follow EPA guidelines.
Anson Tong @ansonjtong 23/29
There is a motion to pass the recommendation. The motion passes.
Anson Tong @ansonjtong 24/29
The next item on the agenda is a call for hearing(s) on the implementation of Enterprise Resource Planning (ERP) Technology System.
Anson Tong @ansonjtong 25/29
The first departments involved will be procurement, HR, and finance.
Anson Tong @ansonjtong 26/29
Chair Villegas says that it has taken 19 months of negotiations between the contractor and the city.
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Chair Villegas notes that he and Ald. Mitchell passed an ordinance a few years ago that require annual reporting from tax incentive recipients, addressing a concern mentioned previously by Public Speaker #1.
Anson Tong @ansonjtong 28/29
Chair Villegas calls for the adjournment of this meeting at 11:43am.
Anson Tong @ansonjtong 29/29
More information on NanoGraf can be found at their website. nanograf.com
nanograf.com

Agency Information

Chicago City Council

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At this link, scroll down to “Meeting Notices.” Look for “Watch now” and click on the link with the meeting title to go to a livestream page. If you don’t see a link for the meeting, you may be early or the meeting may be starting late. Wait a few moments and try refreshing your Internet tab.

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