Finance committee approves spending and agreements
At a glance
Quick context to catch up fast.
The committee approved major funding items, including up to $500,000 for the Thomas Hughes Children’s Library, up to $15 million in financial assistance for Levy House Apartments, and nearly $251 million in TIF support for The 78 project.
Projects mentioned
Browse all related coverage for the main local project pages tied to this summary.
Committees mentioned
Open the committee coverage hubs tied to this summary.
Topics discussed
Was this summary helpful?
Your feedback helps us prioritize what to improve next.
What this means
The Committee on Finance advanced a wide range of spending and financing items for City Council consideration. The biggest dollar items were support for housing projects, infrastructure at The 78, and a $9 million settlement in a federal court case. It also approved a library grant, airport bond authority, a contract recommendation for the City’s financial statement audits, and two charitable solicitation permits.
Key decisions
Follow the major takeaways from this briefing.
- Approved the June 2026 Monthly Rule 45 Report for the Committee on Finance.
- Approved a grant agreement with the Chicago Public Library Foundation for the Thomas Hughes Children’s Library, up to $500,000.
- Approved financial assistance and restructuring for Levy House Apartments, including up to $15,000,000 in assistance and up to $5,500,000 in multi-family revenue bonds.
- Approved TIF assistance for rehabilitation of the Villa Guadalupe senior housing facility, up to $5,869,448.
- Approved an amendment replacing DCNC with Friends of Downtown as developer and revising the TIF agreement for the Residential Project at 135 S. LaSalle Street.
- Approved an ordinance regarding debt waivers.
- Approved authority to issue Chicago O'Hare International Airport Senior Lien Revenue and Refunding Bonds, Series 2026(B)(C)(D).
- Recommended Baker Tilly US, LLP and its consortium of minority- and women-owned accounting firms to perform the City’s financial statement audits beginning with the fiscal year ending December 31, 2026.
- Approved TIF assistance for the Division Austin Bus Turnaround project, up to $1,066,675.
- Approved TIF-backed redevelopment agreements for The 78 project, including up to $174,749,770 for public infrastructure improvements and up to $250,163,768 for river wall, podium, parking facility, and public open space improvements.
- Approved a $9,000,000 settlement in Alberto Ochoa v. Jose Lopez, et al.; Alderman William Conway recused himself from voting.
- Received reports of verdicts, judgments, and settlements for June 2026.
- Approved payment of various small claims against the City and denied payment of two other small-claims orders.
- Approved charitable solicitation permits for Knights of Columbus and Project Orbis International, Inc.
- Held a subject matter hearing on the Chicago Metered Parking System Concession Agreement ownership transfer and took no vote.
Timeline & follow-ups
Action items flagged by the community.
No follow-ups have been shared yet. Add one in the community board below.
Meeting information
Details and records from this meeting.
Committee on Finance
Written Public Comment Deadline: June 24, 2026, 11:00 AM
Agenda
Agenda items not available.
Documents from this meeting
- Agendahttps://occprodstoragev1.blob.core.usgovcloudapi.net/meetingattachmentspublic/73afb708-58c2-4475-8164-4698dc1cc92c.pdf
- Noticehttps://occprodstoragev1.blob.core.usgovcloudapi.net/meetingattachmentspublic/2d4d4873-ea60-f111-bec5-001dd8001d1e.pdf
- Summaryhttps://occprodstoragev1.blob.core.usgovcloudapi.net/meetingattachmentspublic/026f411d-a4df-426e-a215-72c734f0c07b.pdf
Recent documents
Fresh records from this municipality.
Civic leadership
Know who to contact about the decisions that matter.