[remote or in person] Committee on Economic, Capital and Technology Development

Chicago City Council

Politics

Thursday, March 6, 2025
10:00 a.m. — 12:00 p.m. CST

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121 N LaSalle St Chicago 60602 (Directions)

City Hall

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Reporting

Edited and summarized by the Chicago - IL Documenters Team

Note-taking by Angela Ybarra

Committee members approved a tax incentive for the rehabilitation of the Congress Theater, a historic landmark, as part of a larger redevelopment agreement including $27 million in TIF funds.

View notes

Live reporting by Natalie Frank

Committee members approved a tax incentive for the rehabilitation of the Congress Theater, a historic landmark, as part of a larger redevelopment agreement including $27 million in TIF funds.

Natalie Frank, Ph.D

Hi all. Today I'll be live tweeting the meeting for the Chicago Committee on Economic, Capital and Technology Development scheduled to begin at 10:00am. #CHIdocumenters @CHIdocumenters @city_bureau

09:59 AM Mar 6, 2025 CST

Natalie Frank, Ph.D @FrankNatalie 2/17

@CHIdocumenters @city_bureau The Committee on Economic, Capital & Technology Development deals with what directly affects Chicago's economic & technological development & economic attraction to the City, financing economic development subsidies (special service areas, tax incentives, and special assessments)

Natalie Frank, Ph.D @FrankNatalie 3/17

@CHIdocumenters @city_bureau The Chair of the Committee on Economic, Capital & Technology Development is Gilbert Villegas, 36th Ward. The Vice Chair is Ronnie L. Mosley, Ward 21st Ward.

Natalie Frank, Ph.D @FrankNatalie 4/17

@CHIdocumenters @city_bureau The meeting has not yet begun, perhaps due to a last minute change of location. I'll return once it does, In the mean time here is today's agenda:

Natalie Frank, Ph.D @FrankNatalie 5/17

@CHIdocumenters @city_bureau The first item on the agenda is related to the West Pullman Industrial Center (1001 W 119th St) a speculative development (413,400 square feet). The second item is the Congress Theater, a movie "palace" (2135 N. Milwaukee Avenue) for renovation work. cinematreasures.org/theaters/304

cinematreasures.org/theaters/304

Natalie Frank, Ph.D @FrankNatalie 6/17

@CHIdocumenters @city_bureau Meeting has begun. Quorum established.

Natalie Frank, Ph.D @FrankNatalie 7/17

@CHIdocumenters @city_bureau Public Comment includes comments on being a sanctuary city, gun detection tech, immigration, violent crime in Southside Chicago.

Natalie Frank, Ph.D @FrankNatalie 8/17

@CHIdocumenters @city_bureau Item 1: Beth Mcquire project manager presenting - Current Condition of property, land vacant for more than 20 years. Requesting Class 6b to revitalize land. Cost $60,000,000Expected tax incentive $33,155,740

Natalie Frank, Ph.D @FrankNatalie 9/17

@CHIdocumenters @city_bureau Leo Walker CEO of realty company: Will be largest indust. transaction by black owned developer in Chicago's history. 400,000 sq feet can accommodate 4-8 users, but would like to attract a single user. Tenancy flexible but will be industrial.

Natalie Frank, Ph.D @FrankNatalie 10/17

@CHIdocumenters @city_bureau Roll call vote: Recommendation passes.

Natalie Frank, Ph.D @FrankNatalie 11/17

@CHIdocumenters @city_bureau Item 2: Congress Theater in Logan Square. Named Chicago Landmark. Last occupied in 2013. 1 piece of larger development rehab. Class L Application. Lobby renovations d/t water damage. Store fronts placed on part of first floor. Actual theater will be restored. Total cost $87.5M

Natalie Frank, Ph.D @FrankNatalie 12/17

@CHIdocumenters @city_bureau Item 2: Tax abatement to applicant is $6.2M.

Natalie Frank, Ph.D @FrankNatalie 13/17

@CHIdocumenters @city_bureau Item 2: Will offer discounted space for community members for those who couldn't otherwise afford. Incentives include TIF, Class L, Low affordability. Savings with low affordability 30 yr tax reduction at 100% for 3 yrs, 100% tax reduction outside low affordability & commercial

Natalie Frank, Ph.D @FrankNatalie 14/17

@CHIdocumenters @city_bureau Item 2: What part of low affordability would apply to this. Finance department for development didn't know will get back with info.

Natalie Frank, Ph.D @FrankNatalie 15/17

@CHIdocumenters @city_bureau La Spata: property tax benefit - permit TIF district to expire in 2027, effect on vacant lots around it, when others found this project moving forward others are also considering developing vacant lots will affect property taxes.

Natalie Frank, Ph.D @FrankNatalie 16/17

@CHIdocumenters @city_bureau Vote on Item 2: Roll call vote, recommendation passes.

Natalie Frank, Ph.D @FrankNatalie 17/17

@CHIdocumenters @city_bureau Meeting adjourned at 11:30. Next meeting April 3rd at 10:00 am.

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Attachments

6 attachments

Revised meeting notice

By Rachel Birkhahn-Rommelfanger ⋅ March 6th, 2025

Meeting webpage

By Rachel Birkhahn-Rommelfanger ⋅ March 6th, 2025

Notice

March 6th, 2025

Agenda

March 6th, 2025

Summary

March 6th, 2025

Agency Information

Chicago City Council

chicityclerkelms.chicago.gov

(312) 744-3166

@ChiCouncil

See Documenters reporting

The Chicago City Council is the legislative branch of the government of the City of Chicago and consists of the Mayor and Aldermen elected from each of the City’s fifty wards. Source

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At this link, scroll down to “Meeting Notices.” Look for “Watch now” and click on the link with the meeting title to go to a livestream page. If you don’t see a link for the meeting, you may be early or the meeting may be starting late. Wait a few moments and try refreshing your Internet tab.

Recordings of past City Council meetings may be found here: https://vimeo.com/user100351763/videos/sort:date.

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