Committee on Finance

If you’d like to tune in, here’s a link to the video stream:
https://vimeo.com/user100351763

The is a reconvened meeting from yesterday. This is the agenda for what they covered yesterday. https://assets.documentcloud.org/documents/7221611/Committee-on-Finance-2020-10-05-Agenda.pdf

Hmmm I logged on at 3:30 (the stated time they’d begin) but it seems like this meeting began earlier than that…

They just passed on item, I believe it was a rezoning proposal in the 44th Ward.

Alright it seems as though this is the wrong committee meeting. The zoning committee is running late so the finance meeting hasn’t begun yet.

Okay so (an hour later than scheduled) the meeting is about to begin.

It’s called to order at 4:32 and a roll call is being taken now.

There are 18 members present, just barely making a quorum.

Chairman Waguespack mentions that there are two CTA projects that are asking for TIF (Tax Increment Financing) funding

Vice Chair Hairston says that on this issue the CTA and the mayor’s office both have legal counsel representing their interests, but the aldermen do not.

Apparently they voted on one of these items yesterday that was not an actionable item.

“I’m a little bit disturbed” Ald. Beale says, asking how they’re moving forward with these items concerning the CTA without them being fully funded yet.

They are reviewing some very granular state versus city versus federal law disparities as they concern funding the CTA is seeking.

After a question isn’t answered one alderman says “The information that Ald. King is asking for, you have CTA sitting right there, they should be able to answer what happened. Was there city money involved? They should be able to answer those questions”

This is in reference to past CTA programs and how they’ve been funded.

They are trying to assess if two ordinances can coexist.

“It sounds to me like we’re getting the runaround here.”-@RLopez15thWard

Counsel for the city says the CTA is being guided by state statutes. Lopez asks, “We are under no obligation to fund CTA with TIF, correct?”

“I think it’s ridiculous to listen to projects that have already gone to bid and be guilted into funding them”-Ald. Lopez

Ald. Villegas suggests they set their own rules for anyone looking to get city money.

Also to clarify, they are discussing implementing Chicago’s Minority and Women-Owned Business (M/WBE) Certification Program within CTA.

“We have an obligation to not fund it at this time. Since 2008 this agency has been getting away, using dollars our taxpayers have been putting into the system, not hiring those taxpayers”-Vice Chair Hairston says

“Every tax dollar the ppl here in the city of Chicago pay should be met with some sort of return” she seems to be referencing a lack of hiring on the part of CTA from within the city

They have decided to put a vote as to whether or not to hold these items in committee

Lopez and Chairman Waguespack are disagreeing about whether or not to ask for more time to deliberate these items.

Ald. Beale seconds the idea that the City Council should have it’s own legal representation. The motion to defer this item is carried and passed by voice vote, but the chairman is reminded that it needs to be a roll call vote.

They abruptly adjourn (with a motion and voice vote in favor) at 5:30.

If you’d like to tune in, here’s a link to the video stream:
https://vimeo.com/user100351763

The is a reconvened meeting from yesterday. This is the agenda for what they covered yesterday. https://assets.documentcloud.org/documents/7221611/Committee-on-Finance-2020-10-05-Agenda.pdf

Hmmm I logged on at 3:30 (the stated time they’d begin) but it seems like this meeting began earlier than that…

They just passed on item, I believe it was a rezoning proposal in the 44th Ward.

Alright it seems as though this is the wrong committee meeting. The zoning committee is running late so the finance meeting hasn’t begun yet.

Okay so (an hour later than scheduled) the meeting is about to begin.

It’s called to order at 4:32 and a roll call is being taken now.

There are 18 members present, just barely making a quorum.

Chairman Waguespack mentions that there are two CTA projects that are asking for TIF (Tax Increment Financing) funding

Vice Chair Hairston says that on this issue the CTA and the mayor’s office both have legal counsel representing their interests, but the aldermen do not.

Apparently they voted on one of these items yesterday that was not an actionable item.

“I’m a little bit disturbed” Ald. Beale says, asking how they’re moving forward with these items concerning the CTA without them being fully funded yet.

They are reviewing some very granular state versus city versus federal law disparities as they concern funding the CTA is seeking.

After a question isn’t answered one alderman says “The information that Ald. King is asking for, you have CTA sitting right there, they should be able to answer what happened. Was there city money involved? They should be able to answer those questions”

This is in reference to past CTA programs and how they’ve been funded.

They are trying to assess if two ordinances can coexist.

“It sounds to me like we’re getting the runaround here.”-@RLopez15thWard

Counsel for the city says the CTA is being guided by state statutes. Lopez asks, “We are under no obligation to fund CTA with TIF, correct?”

“I think it’s ridiculous to listen to projects that have already gone to bid and be guilted into funding them”-Ald. Lopez

Ald. Villegas suggests they set their own rules for anyone looking to get city money.

Also to clarify, they are discussing implementing Chicago’s Minority and Women-Owned Business (M/WBE) Certification Program within CTA.

“We have an obligation to not fund it at this time. Since 2008 this agency has been getting away, using dollars our taxpayers have been putting into the system, not hiring those taxpayers”-Vice Chair Hairston says

“Every tax dollar the ppl here in the city of Chicago pay should be met with some sort of return” she seems to be referencing a lack of hiring on the part of CTA from within the city

They have decided to put a vote as to whether or not to hold these items in committee

Lopez and Chairman Waguespack are disagreeing about whether or not to ask for more time to deliberate these items.

Ald. Beale seconds the idea that the City Council should have it’s own legal representation. The motion to defer this item is carried and passed by voice vote, but the chairman is reminded that it needs to be a roll call vote.

They abruptly adjourn (with a motion and voice vote in favor) at 5:30.