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@documenters MONTHLY RULE 45 REPORT • 6/25 Monthly Rule 45 Report for Com on Finance passed. 1/25 Monthly Rule 45 Report for Joint Common Finance Subcom on Revenue & Com on Health & Human Relations approved. 6/25 Monthly Rule 45 Report for Com on Finance Subcommittee on Revenue approved

@documenters 5 proposed orders authorizing Corporation Counsel to enter into/execute Settlement Orders. 1)Felicia Nalls-Bradley v. City of Chicago $400k. Gilbert Mendez v. City of Chicago $2.5M. Marley Aguilar v. Eric Duron, et al., $3M. Jackie Wilson v. Jon Burge, et al. $12.7M.

@documenters % proposed orders authorizing Corporation Counsel to enter into/execute Settlement Orders: 5) Roberto Almodovar v. Reynaldo Guevara, et al., $17M

@documenters Communication concerning the appointment of Michael Belsky as City Comptroller. Belsky: Bio - Specialized in High Yield Municipal Bonds. Mayor of Highland park. Went into academia - Municipal finance &legacy liability (e.g. pensions). Conducted research at Univ of Chicago

@documenters Belsky: Focusing on increasing city revenue through finance avenues. Ex. Wants to expand tech for data based parking enforcement

@documenters Ald. O'Shea asked what his top goal was. Belsky: Fill positions. Currently 55 open positions in dept. Need to get them approved/filled. When he started there were 10 open parking enforcement positions, have filled 8.

@documenters Ald Irving - Need to get back into nuts and bolts of accounting. Don't have timely information because not enough people running numbers. He feels that is the first goal because may have accurate info but if not timely not as useful, projects are delayed, costs money

@documenters Belsky: Need to provide interim financial reporting that are unaudited to provide idea of where things are. But they are focused on accountability which can make things untimely. Also advocates for Popular Report, present financial reports in way public can understand.

@documenters Ald Curtis: One bit interest is Semi truck parking on residential streets.

@documenters Ald Moore - Don't know him, prefer to talk to people he trusts. Some of them concerned. Will support appt because have great staff/Director. If something he's not strong in he needs to get up to speed b/c when budget comes they need a lot of info.

@documenters Ald. Moore - Not satisfied with what he said about using bonds for pension liability. Pension bonds are taxable. If can sell them when interest rates low then can be successful in reducing pension liability. If market uncertain he'd advise again.

@documenters Motion for due pass recommendation approved. Will be reported at next full council meeting. Chair Dowell called for 5 minute break.

@documenters Ordinance regarding demolition lien: New owner should be able to buy the land for the amount demo cost. Removing lien from current owner, assigning it to the new owner instead of requiring current owner to pay off lien prior to sale.

@documenters [Previously covered out of order} Redevelopment agreement and issuance of Tax Increment Financing (TIF) funds to Black Ensemble Theater Corporation for improvements at the Black Ensemble Studio Theater.

@documenters Ald. Taylor: Funds would allow Black Ensemble Theater to service over 10K people. It functions to eradicate racism, teach youth how to navigate, turn racism around. Ald. Vasquez - Theater also addresses segregation in the city. Move to pass. Recommendation passed.

@documenters Return to regular order - Bond Inducement for Homan Square Apartments Phase IV Project - in Chicago there's a serious shortage of decent, safe, sanitary rental housing available for low & moderate income harmful to health, prosperity, economic stability of city.

@documenters Homan Housing proposed low-income housing development which includes rehabilitation of 6 residential buildings at 3607, 3621, & 3645 West Polk Street, 906 & 908 South Central Park Avenue, & 921 South Lawndale Avenue

@documenters Proposal passed. Info on Homan Square: homansquare.org/apartments/

@documenters Homan Housing asking for $20M in bonds. Cost $316K per unit. It's this low because it's an acquisition not new construction.

@documenters Requested approval for redevelopment agreement asking for TIF funds to Southbridge 1C Housing LLC, for project at 2311-15 S. State Street (also known as 3-5 E. 23rd Street. Passed.

@documenters Ordinance regarding Issuance of bonds and other indebtedness requirements. Passed

@documenters Public Comment. Meeting Adjourned at 3:55pm. Next meeting August 18th. This concludes my coverage of the Chicago Committee on Finance. For additional coverage of meetings see @CHIdocumenters