Chicago Committee on Finance Approves Redevelopment Agreements, Bond Inducements, and Legal Settlements on July 14, 2025
At a glance
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The Committee on Finance approved multiple redevelopment agreements including Tax Increment Financing (TIF) allocations, bond inducements for housing projects, the appointment of a new City Comptroller, amendments to municipal codes, and several legal settlements totaling over $35 million. One ordinance amending bond issuance requirements was not passed.
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Key decisions
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- Approved TIF funding up to $11,870,154 for Southbridge 1C Housing LLC redevelopment at 2311-15 S. State Street (3rd Ward).
- Authorized bond inducement up to $20,000,000 for Homan Square Apartments Phase IV multi-family housing project (24th Ward).
- Confirmed appointment of Michael Belsky as City Comptroller.
- Amended Municipal Code to align senior sewer exemption and refuse discount programs.
- Approved TIF funding up to $2,434,955 for Black Ensemble Theater Corporation improvements at 4440-4450 N. Clark Street (47th Ward).
- Authorized settlements in five legal cases with payments ranging from $400,000 to $17,000,000.
- Denied payment of various small claims against the City and authorized payment of others.
- Denied an ordinance introduced by Alderman Marty Quinn regarding bond issuance ordinance requirements.
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Meeting information
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Committee on Finance
Public Comment Deadline: 7/10 at 10:00am
Agenda
Agenda items not available.
Documents from this meeting
- Agendahttps://occprodstoragev1.blob.core.usgovcloudapi.net/meetingattachmentspublic/c6f08f3e-f534-432c-8bf2-9113cc1bb491.pdf
- Agendahttps://occprodstoragev1.blob.core.usgovcloudapi.net/meetingattachmentspublic/57f8c35a-52c8-4890-b91f-36086647c90f.pdf
- Noticehttps://occprodstoragev1.blob.core.usgovcloudapi.net/meetingattachmentspublic/73fee168-3550-f011-8779-001dd830a432.pdf
- Summaryhttps://occprodstoragev1.blob.core.usgovcloudapi.net/meetingattachmentspublic/46c1c27c-272b-4c0f-8b2f-41044cd8f4e3.pdf
- Summaryhttps://occprodstoragev1.blob.core.usgovcloudapi.net/meetingattachmentspublic/ad7fe598-b7d1-44b7-8dcf-785b1d95f7ea.pdf
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