@CHIdocumenters The meeting was called to order at 10:30am. Roll call established a quorum was present with 3 members attending remotely.

@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.

@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.

@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.

@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.

@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.

@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.

@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 .