Chicago Committee on Finance Approves Multiple Ordinances and Settlements on May 13, 2024
At a glance
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The Committee on Finance approved ordinances related to water leak relief, affordable housing bonds, TIF agreements for park and redevelopment projects, amendments to tax increment financing administration, and authorized payments and denials of various small claims and settlements totaling over $3 million.
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Key decisions
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- Established Water Leak Relief Pilot Program via amendment to Municipal Code Chapter 11-12.
- Authorized issuance of up to $25 million in tax-exempt bonds to The Ave SW LLC for affordable housing development at 3601 W. Chicago and 3613-3625 W. Chicago Avenue (27th Ward).
- Approved First Amendment to Intergovernmental Agreement with Chicago Park District for $1.25 million in TIF funds for improvements at Park 598 (27th Ward).
- Amended Redevelopment Agreement with NP Avenue O, LLC for Commerce Park improvements (10th Ward).
- Executed TIF Redevelopment Agreement with North Lawndale Catalyst Initiative Inc. and North Lawndale Initiative Support Inc. for property at 4100 W. Fillmore Street (24th Ward).
- Substitute ordinance increasing funding to select TIF Redevelopment Project Areas and amending Small Business Improvement Fund program rules across multiple wards.
- Authorized payment and denial of various small claims against the City of Chicago.
- Authorized Corporation Counsel to settle four cases with payments totaling $3,405,000.
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Meeting information
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Committee on Finance
Written public comment deadline May 10, 2024, 2:00 P.M.
Agenda
Agenda items not available.
Documents from this meeting
- Noticehttps://occprodstoragev1.blob.core.usgovcloudapi.net/meetingattachmentspublic/01697976-d577-4e93-9fdf-80d7fdd6679d.pdf
- Agendahttps://occprodstoragev1.blob.core.usgovcloudapi.net/meetingattachmentspublic/ee651a3d-5e20-4963-830e-d9097bda4b7c.pdf
- Summaryhttps://occprodstoragev1.blob.core.usgovcloudapi.net/meetingattachmentspublic/663221af-0c1e-43dc-914f-850cbee69d30.pdf
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