Chicago Committee on Finance Approves TIF Allocations, Housing Bonds, and Settlement Orders
At a glance
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The Committee on Finance approved 18 items including tax increment financing (TIF) allocations totaling approximately $5.2 million for park improvements across three districts, multi-family housing revenue bonds exceeding $81 million, a redevelopment agreement amendment, and nine settlement orders in litigation cases totaling approximately $44.79 million. The committee also considered resolutions regarding public pension debt re-amortization and police misconduct prevention.
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Key decisions
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- Approved First Amendment to intergovernmental agreement with Chicago Park District for $200,000 TIF allocation for River Park improvements (33rd Ward)
- Approved First Amendment to intergovernmental agreement with Chicago Park District for $2,850,000 TIF allocation for Ronan Park improvements (33rd Ward)
- Approved intergovernmental agreement with Chicago Park District for $600,000 TIF allocation for Homan Square Park improvements (24th Ward)
- Approved First Amendment to Redevelopment Agreement with JTA Development, Inc. for Renaissance Estates project (21st Ward)
- Approved establishment of 2026 Qualified Mortgage Certificate Program with $75,000,000 bond volume cap
- Approved $20,000,000 multi-family revenue bonds and $10,000,000 TIF for Homan Square Phase IV project (24th Ward)
- Approved $26,000,000 multi-family housing revenue bonds for 5853 N Broadway affordable housing development (48th Ward)
- Approved $35,000,000 multi-family housing revenue bonds for Indian Trails Apartments rehabilitation (9th Ward)
- Approved nine settlement orders in litigation cases totaling $44,790,000
- Re-referred resolution on Illinois General Assembly legislation for public pension debt re-amortization to Joint Committee on Workforce Development and Committee on Finance
- Re-referred resolution on police misconduct prevention and settlement budget determination to Joint Committee on Police and Fire and Committee on Finance
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Meeting information
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Committee on Finance
Written Public Comment due by October 10th at 10:00am.
Agenda
Agenda items not available.
Documents from this meeting
- Noticehttps://occprodstoragev1.blob.core.usgovcloudapi.net/meetingattachmentspublic/729f3d17-c098-f011-b4cb-001dd8054936.pdf
- Agendahttps://occprodstoragev1.blob.core.usgovcloudapi.net/meetingattachmentspublic/762ee852-4d08-4b47-a6cf-ede8aae360cd.pdf
- Summaryhttps://occprodstoragev1.blob.core.usgovcloudapi.net/meetingattachmentspublic/1f0958b1-238b-4304-8756-bdf8b479a356.pdf
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