Committee on Finance Approves Park District TIF Allocations, Revenue Bonds, and Settlement Orders
At a glance
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The Committee on Finance met on June 10, 2024, and approved multiple intergovernmental agreements with the Chicago Park District for tax increment financing allocations totaling approximately $11.7 million across four parks, as well as revenue bond issuances for airport improvements, water infrastructure, and mixed-income housing developments. The committee also authorized settlement payments totaling approximately $59.05 million across multiple cases.
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Key decisions
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- Approved five intergovernmental agreements with Chicago Park District for TIF-funded improvements at Union Park ($1M), Moran Park ($9M), Skinner Park ($900K), Welles Park ($400K), and Revere Park ($400K)
- Approved issuance of O'Hare International Airport General Airport Senior Lien Revenue Bonds and Passenger Facility Charge Revenue Bonds, Series 2024
- Approved issuance of Second Lien Water Revenue Bonds, Series 2024
- Approved multi-family housing revenue bonds for three developments: 208 S. LaSalle Street ($70.5M), 111 W. Monroe Street ($88M), and 2120 N. Mozart Street ($10M)
- Authorized settlement payments in four cases totaling approximately $59.05 million, including $50M for cases involving James Cassidy et al.
- Approved May 2024 Monthly Rule 45 Report for the Committee on Finance
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Meeting information
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Committee on Finance
Written public comment deadline June 7, 2024, 1:00 PM
Agenda
Agenda items not available.
Documents from this meeting
- Summaryhttps://occprodstoragev1.blob.core.usgovcloudapi.net/meetingattachmentspublic/7b8b4026-faae-410e-934b-99904d294fa2.pdf
- Noticehttps://occprodstoragev1.blob.core.usgovcloudapi.net/meetingattachmentspublic/0223bd0f-88a9-4b83-b862-f93c1a87440c.pdf
- Agendahttps://occprodstoragev1.blob.core.usgovcloudapi.net/meetingattachmentspublic/a1fd4d58-0287-4a4a-9a86-82c95c67e176.pdf
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