Committee on Finance meeting summary: settlements, depository designation, HUD/TIF for Congress Theater, loan restructurings, and subject-matter hearing on municipal depositories
At a glance
Quick context to catch up fast.
At meetings Feb 9 and Feb 11, 2026 the Chicago City Council Committee on Finance held a subject-matter hearing on Municipal Depositories (no votes) and approved multiple items including five settlement orders (totaling $30,162,000), ordinances designating municipal depositories for FY2026 and amending Finance publication rules, HUD Section 108 loan and TIF assistance for the Congress Theater, loan assumption/restructuring and transfers involving The Habitat Company properties, small-claims orders, and a Tag Day permit for Misericordia Foundation; one proposed $8,250,000 settlement was voted do not pass.
Topics discussed
Was this summary helpful?
Your feedback helps us prioritize what to improve next.
Key decisions
Follow the major takeaways from this briefing.
- Approved five settlement orders authorizing the Corporation Counsel to execute settlements: Santiago/Fitzgibbons ($1,962,000), William Negron ($800,000), Ariel Gomez ($4,850,000), Angel Diaz ($6,950,000), Demetrius Johnson ($16,600,000).
- Proposed settlement in Marylyn Rogel v. City (Case No. 2022 L 010886) for $8,250,000 was a do not pass in Committee (Or2026-0023123).
- Approved ordinance designating Municipal Depositories for the City of Chicago and Chicago Board of Education for Fiscal Year 2026 (O2026-0022467).
- Approved ordinance amending Municipal Code §2-32-096 regarding publication requirements for rules proposed by the Department of Finance (O2026-0022512).
- Approved ordinance authorizing HUD Section 108 loan guarantee and associated loan agreement with BR Congress Owner LLC for Congress Theater rehabilitation at 2135 N. Milwaukee Avenue (O2026-0022523).
- Approved substitute ordinance amending the redevelopment agreement with BR Congress Owner LLC and Congress Theater NFP to provide TIF assistance for 2135 N. Milwaukee Avenue (SO2026-0022524).
- Approved ordinance authorizing assumption of a HOME loan, loan subordination, restructuring with The Habitat Company, LLC and sale/transfer of Renaissance Saint Luke at 1501 W. Belmont Avenue (O2025-0021658).
- Approved ordinance authorizing assumption of Multi-family program funds, loan subordination, restructuring with The Habitat Company, LLC and sale/transfer of Wicker Park Renaissance (1527–1531 N. Wicker Park Avenue) (O2025-0021657).
- Approved a resolution (introduced by Alderman Anthony Beale) calling on the City Clerk to provide the Illinois Gaming Board a certified copy of Council Ordinance SO2025-0021719 regarding video gaming terminals (R2026-0022536).
- Approved proposed orders to authorize and to deny payment of various small claims against the City (SOr2026-0023140; SCL2026-0023141).
- Approved one Charitable Solicitation on the Public Way (Tag Day) permit for Misericordia Foundation, citywide, April 22–25, 2026 (F2026-0023138).
- Held a subject-matter hearing on February 9, 2026 (no votes) to discuss Municipal Depositories under Municipal Code §2-32-400 and Resolution R2026-0022538 (introduced by Matthew O’Shea) regarding the City's cashflow and plans/timing to meet FY2026 advance pension payment requirements.
Timeline & follow-ups
Action items flagged by the community.
No follow-ups have been shared yet. Add one in the community board below.
Meeting information
Details and records from this meeting.
Recent documents
Fresh records from this municipality.
Civic leadership
Know who to contact about the decisions that matter.