Summary

Committee on Finance (April 13, 2026) — TIF allocations, housing and water bonds, settlements approved

ChicagoApr 13, 20262 min read

At a glance

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The Committee approved March 2026 Rule 45 report and passed ordinances and orders including TIF allocations for workforce and housing projects, multi-family revenue bonds and water revenue bonds, two settlement payments, a tobacco-tax resolution, and a citywide charitable solicitation permit.

Committees mentioned

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Committee on Finance

Topics discussed

LaborBudget & TaxHousingUtilities

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Key decisions

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Approved March 2026 Monthly Rule 45 Report for the Committee on Finance.
Ordinance: amended Redevelopment Agreement with The Institute of Cultural Affairs for rehabilitation at 4750 N. Sheridan Road (46th Ward). Amount not to exceed $2,000,000 (TIF). (O2026-0024063)
Substitute ordinance: allocation of Tax Increment Financing (TIF) funds for the Workforce Solutions Program (SO2026-0024038) — applicable to numerous wards listed in the document.
Substitute ordinance: issuance of Multi‑Family Housing Revenue Bonds and other assistance to Lathrop Preservation IC, LP for Lathrop redevelopment (32nd Ward). Amounts not to exceed $40,000,000 (TIF) and $100,000,000 (Multi‑Family Revenue Bonds). (SO2026-0024082)
Substitute ordinance: financial assistance and acquisition of City parcels to HUB32, LLC for HUB32 project (28th Ward). Amounts not to exceed $10,000,000 (Multi‑Family) and $14,500,000 (TIF). (SO2026-0024073)
Ordinance: issuance of the City’s Water Revenue Bonds, Project and Refunding Series 2026. (O2026-0024095)
Resolution urging the General Assembly and the Governor to enact House Bill 5175 and Senate Bill 3630 to allow taxation of additional tobacco products by certain Illinois municipalities to reduce tobacco use rates within the City. (R2026-0024708)
Two proposed settlement orders authorized: Derrick Wordlaw and Camille Wordlaw v. City of Chicago — $470,000 (Or2026-0024713); Carl Reed v. Richard Zuley, et al. — $9,500,000 (Or2026-0024715).
Communication transmitted reports of cases with verdicts, judgments or settlements entered for March 2026. (F2026-0024711)
Proposed order authorizing Charitable Solicitation on the Public Way (Tag Day) permit for Children International, citywide, April 20, 2026 to December 31, 2026. (F2026-0024717)

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