Chicago Committee on Finance Approves Key Financial and Settlement Measures on April 11, 2025
At a glance
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The Committee on Finance of Chicago approved continuation and renaming of the Single Room Occupancy Loan Program, authorized settlement payments totaling over $32 million, approved intergovernmental agreements allocating TIF funds for park improvements, and authorized issuance of bonds for airport facilities. Two housing financial assistance ordinances were held in committee due to incomplete information.
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Key decisions
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- Approved continuation and renaming of the Single Room Occupancy Loan Program to the SRO Preservation Fund.
- Authorized settlement payments: $750,000 to Marianne Perper and $32 million total for Bryce and Amy Summary cases.
- Denied settlement payment of $1,250,000 in Nicole Banks v. City of Chicago case.
- Approved intergovernmental agreements with Chicago Park District allocating up to $4.7 million from Midwest TIF District for Douglass Park improvements and up to $8 million from Little Village Industrial Corridor TIF District for Piotrowski Park improvements.
- Authorized issuance of up to $50 million in Chicago O’Hare International Airport Senior Special Facilities Revenue Bonds.
- Held two ordinances for financial assistance to affordable and market rate housing projects at 111 W. Monroe Street and 208 S. LaSalle Street due to missing information.
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Meeting information
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Committee on Finance
Written public comment deadline April 10, 2025, 10:00 AM
Agenda
Agenda items not available.
Documents from this meeting
- Agendahttps://occprodstoragev1.blob.core.usgovcloudapi.net/meetingattachmentspublic/c2ff91af-13cb-4715-8134-155b6f99637e.pdf
- Noticehttps://occprodstoragev1.blob.core.usgovcloudapi.net/meetingattachmentspublic/24834ac2-3fda-40d7-9f81-c42769c01110.pdf
- Summaryhttps://occprodstoragev1.blob.core.usgovcloudapi.net/meetingattachmentspublic/ba56b8ba-4481-4bb5-8105-7f9a0ad6efb3.pdf
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