[remote or in person] Committee on Finance

Chicago City Council
Finance
Politics

Wednesday, April 17, 2024
9:15 a.m. — 10:00 a.m. CDT

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121 N LaSalle St Chicago, IL 60602 (Directions)

2nd floor, Council Chambers

You have the option of documenting this meeting in person or remotely.

If you choose to attend in person, an additional hour will be added to your total assignment hours. You may be asked to provide government-issued photo ID and to go through a metal detector.

If you choose to document remotely, the meeting will be live-streamed at https://www.chicityclerk.com/.

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.

Other notes and pre-research resources

  • Meeting details page: https://chicityclerkelms.chicago.gov/Meeting?meetingId=AA9D4FF9-59FB-EE11-A1FE-001DD804AF4C This committee met on Monday, April 15, but recessed to this time to vote on a substitute version of the proposal to issue bonds to fund affordable housing efforts. The regular monthly City Council meeting is scheduled to start at 10 a.m.
  • Be sure to check the “attachments” tab for the meeting agenda and other documents. You can access more information about items on the agenda at https://chicityclerkelms.chicago.gov/. You can search keywords or click the “Show more filters” button and enter the legislation number (i.e. [O as in Ordinance][year introduced]-####, [R as in Resolution][year introduced]-####).
  • Chicago Councilmatic: This civic data org’s website has a lot of the information that can be found on the city’s database in a more user-friendly format, with info on this committee, plus headshots of members

Check the source website for additional information

Reporting

Edited and summarized by the Chicago - IL Documenters Team

Note-taking by Cordell Longstreath

Housing and Economic Development Bond Program would wean city off TIF

Live reporting by Natalie Frank

Natalie Frank, Ph.D @FrankNatalie
Hi All - Today I'll be covering the Chicago Department of Finance Meeting from April 17th for #CHIdocumenters @CHIdocumenters. This meeting was reconvened after a recess was called on April 15th.

06:05 PM Apr 19, 2024 CDT

Natalie Frank, Ph.D @FrankNatalie 2/9
@CHIdocumenters The meeting was called to order at 10:30am. Roll call established a quorum was present with 3 members attending remotely.
Natalie Frank, Ph.D @FrankNatalie 3/9
@CHIdocumenters The agenda consisted of 1 item considered after a substitute amendment was made during the 4/15 meeting as follows:
Item 1: A substitute ordinance concerning the issuance of General Obligation and/or Securitization Corporation bonds for Housing, Economic Development Programs.
Natalie Frank, Ph.D @FrankNatalie 4/9
@CHIdocumenters Joined by Jill Jaworski, CFO City of Chicago, Jim MacDonald, Managing Deputy Corporation Council from Law Department and Daniel Hertz, from Department of Housing.
Natalie Frank, Ph.D @FrankNatalie 5/9
@CHIdocumenters Ald Moore asked about criteria being codified, concerned that if they weren't & changes were made there would be no chance to address. Hurtz replied they aren't codified but must be publicly posted, updated. Chair said no city ordinances codified but review them every quarter.
Natalie Frank, Ph.D @FrankNatalie 6/9
@CHIdocumenters Vice Chair Conley asked if the $25M a year limit on bonds issued is included in the ordinance. Jawolski replied no and that it can be reduced if there are enough project proposals or not enough TIFs expire.
Natalie Frank, Ph.D @FrankNatalie 7/9
@CHIdocumenters Chair asked for motion to approve Item. Recognized Ald Riley who instead moved for substitute amendment lowering amt of project budget requiring oversite of committee from $5M to $1M to allow for greater Aldermanic control as have a responsibility regarding expenditure of funds.
Natalie Frank, Ph.D @FrankNatalie 8/9
@CHIdocumenters Took roll call vote to determine whether to table ordinance again this meeting based on substitution. Motion to table failed. Motion to recommend approval of Item 1 as is. Motion passed with vote of 20 to 9 in favor. Will be reported out at next full council meeting.
Natalie Frank, Ph.D @FrankNatalie 9/9
@CHIdocumenters Meeting adjourned at 10:00am. This concludes the Chicago Committee on Finance meeting. The next meeting is scheduled for May 15, 2024. For more meeting coverage, check out .
documenters.org

Agency Information

Chicago City Council

The Chicago City Council is the legislative branch of the government of the City of Chicago and consists of the Mayor and Aldermen elected from each of the City’s fifty wards. Source

If you attend a meeting in person, be prepared to go through a security checkpoint and show photo ID.

Meetings are also livestreamed at https://www.chicityclerk.com/.

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.

Recordings of past City Council meetings may be found here: https://vimeo.com/user100351763/videos/sort:date.

See also: “What to Expect at a Meeting of Chicago’s City Council” via the Better Government Association.

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