Chicago homeowners living below 400% of the federal poverty level would be eligible for a property tax rebate under a proposal unveiled by the Council Progressive Caucus Monday afternoon at City Hall. The third property tax exemption or rebate program proposed this year, it joins plans offered by Mayor Rahm Emanuel and Ald. Joe Moreno (1) earlier this month.

In order to qualify for the rebate, a family of four would have to have a gross annual salary of $97,000, a family of two would have to report an annual salary of $63,000, and a single homeowner would have to have an annual salary of $47,000.

Ald. Carlos Ramirez-Rosa (35), the lead sponsor of the tax relief plan, says the rebate would provide relief for homeowners living in communities whose property values have significantly increased over the past few years.

“You would be protected, regardless of the value of your home,” said Rosa using the example of an elderly homeowner living off a monthly Social Security check. Seniors in a rapidly gentrifying neighborhoods shouldn’t have to pay more in property taxes, he said.

Under the proposal authored by Ramirez-Rosa, Ald. Scott Waguespack (32) and Ald. John Arena (45), the City’s Chief Financial Officer would develop an application and process for homeowners to apply for the rebate. The homeowner would apply for an application to participate in the program with the Tax Assistance Center within the City’s Budget Office. The ordinance includes a two-year sunset clause, so the city can amend the program based on participation.

The Progressive Caucus’s plan is based on an earlier property tax rebate program Mayor Richard M. Daley implemented in 2010. When challenged by reporters at yesterday's presser that the Daley plan had a low participation rate, Waguespack said Daley’s plan was “hardly publicized” and the rebate came in the form of a cash card. It would be up to local aldermen to make sure homeowners are aware of the rebate, he said.

In addition to announcing the rebate program, Ald. Arena said the City should do more to crack down on what he said was “hundreds of thousands of dollars” in lost property tax revenue from the City’s central business districts. Accusing businesses of hiring expensive lawyers to fight property tax bills, and thus forcing homeowners to pick up the tab, Ald. Arena suggested the City’s Law Department increase the number of lawyers it has on hand to address property tax rebates submitted by city businesses.

The Progressive Caucus’ plan, as well as Ald. Joe Moreno’s (1) rebate plan for household incomes below $100,000, will be introduced at Thursday’s full City Council meeting. In a press release yesterday afternoon, the Mayor said he plans to seek an increase of existing property tax exemptions through legislation in Springfield.

It was a quick budget meeting with Vice Chairman Jason Ervin (28) taking over the reins from Budget Chairman Carrie Austin, who has reportedly been sick for some time. The committee approved two intergovernmental agreements with the CHA: one for additional police services, and another for conducting federally mandated environmental reviews.

Aldermen in attendance (committee members in bold): Vice Chairman Jason Ervin (28), Roderick Sawyer (6), Michelle Harris (8), Anthony Beale (9), Raymond Lopez (15), David Moore (17), Willie Cochran (20), Michael Zalewski(23), Michael Scott Jr. (24), Roberto Maldonado (26), Walter Burnett Jr. (27), Ariel Reboyras (30), Milly Santiago (31), Scott Waguespack (32), Emma Mitts (37), Brendan Reilly (42)

Ryan Elligan, attorney for the Chicago Police Department, provided a brief overview of the proposed intergovernmental agreement between the Chicago Housing Authority and the City’s Police Department. This agreement has been going on since 1999, the year CHA disbanded its police department, according to Elligan.

But Ald. David Moore (17), a former CHA employee, said he didn’t think it was appropriate for the committee to approve the agreement without being given a breakdown of cost.

“There are no figures here or anything like that,” Ald. Moore explained. “I am trying to see the cost for the past ten years, and if that amount has gone down. We tore buildings down, so the cost of policing should have gone down.”

“This is an expense neutral type of agreement that has been in place for an extended period of time,” Vice Chairman Jason Ervin responded. “Ultimately, this is essentially CHA paying the City of Chicago for services it is rendering on the city’s behalf.”

Ervin said delaying approval of the agreement wouldn’t be in the “best interest of public safety” and Ald. Moore could get the numbers from the police department through the Committee later that week.

This prompted Ald. Brendan Reilly (42) to defend Ald. Moore’s request, asking that the committee get the information through the chair by the end of the day. Ervin said they wouldn’t be getting those numbers until Thursday, the earliest, when the agreement must be approved by the full City Council.

Elligan was however able to provide some details, noting that CHA’s agreement with the police department is capped at $8 million this year, up from the average annual cost of $6 million, which has been the standard benchmark payment for the past decade. According to Elligan, CPD has diverted policing from the old high rise public housing buildings to the low and midrise buildings still in existence. The $2 million increase is not a result of more police officers at CHA buildings, as that number has actually declined, according to Elligan. It’s the gradual increase of police salaries that are contributing to the added costs.  

Kimberly Worthington, Deputy Commissioner for the Department of Fleet and Facility Management (FFM), testified on behalf of the second intergovernmental agreement the Budget Committee approved. Worthington said City Council approval was needed, so the city could conduct federally-required environmental reviews of CHA projects funded by federal grants to ensure they are compliant with soil, contamination, noise and historic preservation guidelines. Under the agreement, CHA will provide a $75,000 upfront payment to the City. The agreement expires in 5 years, but can be renewed upon mutual agreement.

Late yesterday afternoon, Mayor Rahm Emanuel’s press office released the outlinefor today’s FY2016 budget address, featuring a property tax increase with a four-year phase-in period. The basics of his plan, to be officially announced in a 10:00 a.m. speech today, include annually:

• $544 million of property taxes, phased-in over four years, starting with $318M as a supplemental levy in FY2015, reports Greg Hinz. All added revenue would be committed to police and fire pension payments.

• $170 million in city government management savings, through programs like closing CBD TIFs and healthcare reforms.

• $60 million from a $9.50/month fee per household for garbage pickup.

• $60 million from new rideshare (Uber and Lyft) and taxi fees.

• $13 million from streamlining building permitting.

• $1 million from new e-cigarette taxes.

The city property tax increase is on top of a $45 million additional Chicago Public Schools levy the mayor will ask the Council to approve to pay for school capital improvements.

The Mayor’s Office’s 2015 financial analysis released August 2 pegged the city’s budget deficit at $754M. But that’s assuming Springfield passes SB777, which allows the city to stretch out police and fire pension payments over a longer period. If SB777 is not passed and signed by Gov. Bruce Rauner–and he has not yet indicated that he will sign it–then the city’s FY2016 budget hole grows to $975M, according to the analysis. (See our August 3 report for more detail.)

Thus, the Mayor’s plan, which we add up to $848 million in additional annual revenue by FY2018, will need an additional tax levies or cuts if SB777 is not enacted this year.

Also in the mix is the political necessity of a property tax exemption or rebate increase. The Mayor’s Office estimates the property tax increase would equate to $600 more a year for someone with a $250,000 house, a meaningful number for those on a fixed income. Again, the the Mayor’s Office press release says Emanuel is working in concert with Speaker Mike Madigan and Senate President John Cullerton for an exemption increase, but Gov. Bruce Rauner last week said he would not support any exemption changes without passage of his Turnaround Agenda package.

Council members have privately told Aldertrack they are examining ways the city could create an ordinance through a rebate program (for example, the Progressive Caucus program discussed below) if Springfield does not act, but such programs would require new bureaucracy and would not work as smoothly as extending existing exemption programs.

Aldermen spent well over an hour grilling Managing Deputy Commissioner of the Department of Planning and Development, Aarti Kotak, on Mayor Emanuel’s ordinance regarding TIF surplus funds. Pushback and questioning led Chairman Ed Burke to hold the ordinance in committee.

Aldermen in attendance (committee members in bold): Chairman Ed Burke(14), Joe Moreno (1), Brian Hopkins (2), Pat Dowell (3), Leslie Hairston (5) Roderick Sawyer (6), Gregory Mitchell (7), Michelle Harris (8), Anthony Beale(9), Patrick Daley Thompson (11), George Cardenas (12), Marty Quinn (13), Raymond Lopez (15), Toni Foulkes (16), David Moore (17), Willie Cochran (20), Ricardo Munoz (22), Michael Zalewski (23), Danny Solis (25) Jason Ervin (29), Ariel Reboyras (30), Gilbert Villegas (36), Nick Sposato (38), Tom Tunney (44), John Arena (45), Harry Osterman (48), Joe Moore (49), Deb Silverstein (50)

Start Time: 11:26

Kotak explained the ordinance is a codification of a November 2013 executive orderfrom Mayor Emanuel that formalized the practice of annually identifying a portion of TIF funds designated for anticipated future use, removing that portion from that designation, and declaring that portion a surplus.

“This was done in recognition of the balance needed among all interests within the city. It created an increase in property tax revenue available to fund non-TIF related city needs, as well as our schools, parks, and other public institutions,” Kotak said, reminding aldermen that this is how the city has been operating for nearly two years.

In order to be eligible, a TIF fund must be 3 years or older  and have a balance of at least $1M. The TIF can’t have been created for a single redevelopment project, the equalized assessed value of the property in the TIF area must be greater than it was when the TIF was designated, and it hasn’t transferred and is not scheduled to transfer funds to one or more contiguous TIF areas to pay debt service on the City's Modern Schools Across Chicago bonds.

Under the ordinance, the City’s budget director would conduct an annual review of eligible TIFs,  identify at least 25% of the TIF’s cash balance anticipated for future use, and declare that percentage a surplus. Some aldermen were concerned they wouldn’t have available TIF financing for future projects in their ward, and peeved they were expected to vote on the issue before they could speak to City budget officials.

The Finance meeting began at roughly 11:30 a.m., and aldermen were scheduled for a budget briefing at 1:00 p.m. “You’re coming before us and want to talk about it after we vote on something?” Ald. Anthony Beale (9) asked Kotak. ”I have projects that I could be looking down the road that you might not be familiar with that might need some TIF funding.”

“There is no interest or expectation of cutting projects off at the knees,” Kotak later told Ald. Harry Osterman (48). “There is, though, a recognition that we need to balance anticipated future uses with current uses. That’s the goal.”

When asked the size of the surplus, she said the mayor has allocated more than $400M to local government bodies for this year’s budget, and the expectation for 2016 is $113M surplus, but Ald. Burke pointed out that the City only gets $22M of that $113M. Roughly $60M will go towards Chicago Public Schools, and additional resources will go to other taxing bodies like Chicago Parks.

Other aldermen, particularly whose wards encompass TIFs in struggling community areas, spoke out as well. Ald. Jason Ervin (29) questioned whether this surplus definition battles with the state’s (the Law Department says no). Ald. Walter Burnett Jr. (27), Ald. Leslie Hairston (5), Ald. Willie Cochran (20), and Ald. Maldonado(26) sounded skeptical about the new ordinance or the effectiveness of the TIF program overall. Ald. Osterman asked for a hearing on the effectiveness of TIFs during the coming weeks of budget briefings.

Ald. John Arena (45) was the lone councillor who applauded the move out loud. Given an expected hike in property taxes, he said he supported TIF reform to lessen the blow, “What would be the downside to doing 50%?”

At the end of questioning, Ald. Burke decided to hold the issue in committee, “It seems to me that there’s unease in the committee with regard to taking action on this matter. There seems to be a good number of questions unanswered.”

Aldermen also spoke at length about a series of bond deals worth a total of $2.6B: City of Chicago General Obligation Bonds, Series 2015, totaling $500M; Chicago O’Hare International Airport General Airport Senior Lien Revenue Bonds, Series 2015A and 2015B, totaling $2B; and City of Chicago Wastewater Transmission Revenue Bonds, Project and Refunding Series 2015, totaling $125M to terminate associated swaps. A substitute ordinance to the Wastewater bonds includes $332M of conversion bonds, and requests approval for $100M in Illinois Environmental Protection Agency loans, and $350M of inducement authority.

Deputy Comptroller Jeremy Fine stood in for the City’s CFO, Carole Brown, as she met with other aldermen for a budget briefing.

Ald. John Arena was also vocal about the timing for this vote just before the Mayor’s budget release, and asked to delay the vote until the City saw positive movement from ratings agencies. “This seems like the absolute worst time. Until we have certainty in our budget, to be putting these things out…in October we’re not going to have a budget passed.” Ald. Waguespack also pressed Fine for more information about how ratings agencies weight bond changes.

But Fine said it’s an opportune time for the City to make a switch from a variable rate to a fixed rate, saying it’s proven out well for Chicago. “Once you go into a fixed rate mode, you shift the risks associated with any rating action to the investors, as opposed to the City.”

Ald. David Moore (17) chastised Fine for the late change to the Wastewater bonds, saying he didn’t have proper time to review and ask questions on such a large issuance. Several aldermen, including Ald. Cochran and Ald. Dowell, spoke out against a lack of African American representation in brokerage firms listed in the deals.

Ald. Willie Cochran, Ald. Pat Dowell, Ald. Scott Waguespack, Ald. John Arena, and Ald. Gregory Mitchell all voted no on the O’Hare and Chicago General Obligation bonds.

The committee also passed:

• 9 items from the Department of Planning and Development, including several school redevelopment intergovernmental agreements, and issuances of Multi-Family Housing Revenue Bonds as part of the Lawn Terrace Preservation Project and the Paul G. Stewart Apartments Phase III Tower Project.

• A resolution authorizing a Finance Subcommittee to create memorials to two late Mayors: Martin H. Kennelly and Eugene “Gene” Sawyer.

• 14 appointments and reappointments to Special Service Areas.

Noticeably missing from Monday’s agenda was an ordinance on municipal depositories, backed by Mayor Emanuel, City Treasurer Kurt Summers, and several aldermen who held a press conference last week demanding that the ordinance be brought before committee. Summers testified separately to the committee about the City's Investment Policy. Ald. Waguespack insinuated last week that pressure from banks was keeping Chairman Burke from calling the ordinance up for a vote.

The City Council Zoning Committee approved an amended version of Mayor Rahm Emanuel’s proposed expansion of the city’s Transit Oriented Development (TOD) guidelines, which gives developers incentives to build near the city’s public transit stations.

Aldermen Present (committee members in bold):  Chairman Danny Solis (25), Vice Chairman James Cappleman (46), Joe Moreno (1), Anthony Beale (9), David Moore (17), Matt O’Shea (19), Walter Burnett Jr. (27), Deb Mell (33), Gilbert Villegas (36), Brendan Reilly (42), Tom Tunney (44), John Arena (45), Ameya Pawar (47).

Aldermen, real estate developers, land use attorneys, and community organizers packed Room 201A (Budget and Finance were holding back to back meetings in the City Council Chambers), as the City’s Zoning Administrator, Patti Scudiero debriefed the room on the last minute changes the Mayor’s Office made to the original TOD-expansion plan the mayor introduced at the July City Council meeting.

Zoning Chairman Danny Solis (25) tabled a vote on the original proposal at the last zoning meeting, citing the need for revisions.

One of the biggest changes to the original proposal has to do with on-site parking requirements. Any developer building within a fourth of a mile (1,320 ft) of a CTA station and a half of a mile (2,640 ft) of a Metra station would need need to apply for a special use permit from the Zoning Board of Appeals if they want to completely eliminate on-site parking from their development plans. A 50% parking reduction is already allowed under the proposed ordinance.

Developers who want to completely eliminate on-site parking would have to prove getting rid of parking wouldn’t impact the surrounding neighborhood, by proof of plans to promote car alternatives. This could mean more bike racks and parking spaces for car sharing companies like Zipcar.

Calling parking requirements a sometimes “explosive issue,” Ald. Tom Tunney (44) questioned whether the zoning board should be involved in the review process for TOD sites at all. He said the change might remove aldermanic involvement in local zoning issues, a key component of an alderman’s power in a ward. Aldermen are allowed to testify and submit evidence supporting or denouncing applications that go before ZBA, but it is the four-member panel that gets the final say in whether a special use permit will be granted or denied.

Tunney was also concerned about further burdening the zoning board, which currently has a three-month backlog of applications. At the ZBA’s monthly meeting in August, Chairman Jonathan Swain had to schedule deferrals for December, because September, October and November slots are completely booked.

In her response to Ald. Tunney’s concerns, Scudiero noted ZBA is the appropriate and legal channel to discuss parking requirements, because their decisions are “fact-based” and they are currently the only zoning body allowed to dole out special use permits to eliminate on-site parking.

The second major change to the original TOD expansion plan allows for up to 100% efficiency units in new housing developments located within one block of a CTA or Metra station. Scudiero said over the past year, many of the housing development projects within a block of transit prefer these smaller units.

“[This change] would mean that a project could reduce their parking, increase the amount of efficiency units, and get smaller, more affordable units closer to the train station, which we believe is the most necessary spot,” Scudiero explained.

The third change to the original ordinance has to do with filing requirements for TOD-designated projects. Developers that wish to take advantage of the increases to building height and floor-area-ratios (FAR), would have to file their request as a Type 1 zoning application instead of a planned development.

Calling “Type 1” applications a “mini planned development”, Scudiero said the filing changes allow for more transparency to and public review of TOD projects, without burdening developers with an additional five months added to the review process. All Planned Developments must go before the Plan Commission before the City Council Zoning Committee can vote on them. The Commission hears an average of five PD plans per month.

While Type 1 applications don’t require Plan Commission approval, these applications do require additional information from developers, including a “narrative zoning and development analysis” describing floor-area-ratios, density (the lot area per dwelling unit), off-street parking, and building height. Type 1 applications must also include drawings, photographs and/or plans illustrating the proposed building’s scale in relation to nearby buildings, and measurements detailing adjacent sidewalks, parking, loading areas, and landscaping plans.

All of the large scale zoning applications approved at the Plan Commission’s monthly meeting last Thursday will be taken up at today’s zoning meeting (link to Friday’s Plan Commission Roundup). Zoning applications that recently got the green light from the Plan Commission include: a new mixed-use residential housing complex overlooking the new 606 Bloomingdale Trail, and plans to add office space in Fulton Market and Ravenswood.

The committee will also take a second look at the Mayor’s proposed changes to transit oriented development (TOD) regulations and a proposal to create a special liquor license for parties held at industrial venues. Zoning Chairman Danny Solis(25) deferred a vote on both items at the beginning of the last Zoning meeting.

The Mayor’s TOD changes build upon his original 2013 TOD ordinance by expanding the size of TOD zones, eliminating all parking requirements, and adding new incentives for affordable housing.  The TOD ordinance the Mayor introduced at the last City Council meeting more than doubles the maximum distance required for development projects near CTA and Metra stations to 1,320 ft, up from the 600 ft currently required in the City’s zoning code.

Developers who commit to making 100% of units affordable would get to expand the floor-area-ratio (FAR), which is the building floor area divided by the total gross area of the lot, from 3.5 to 4.0. TOD projects in business, commercial, manufacturing, and downtown zoned areas wouldn’t have to provide any on-site parking under the proposal. In lieu of parking, developers would have to beautify the surrounding open space with trees and shrubbery, outdoor seating, wider sidewalks or additional lighting. If approved in committee tomorrow and by the full City Council at the end of the month, the changes would apply to all zoning applications submitted on or after November 1, 2015.

In addition to the TOD reforms, there is Mayor Emanuel’s proposed ordinance creating a private event license for large parties hosted at industrial venues. The license fee would be based on the number of expected attendees, ranging from $700 to $6,600.

The Finance Committee will be asked today to approve the issuance of additional general obligation bonds, a maximum issuance of $500 million to help pay old debt come due and push existing debt into the future. There is also a second bond issue on the agenda, an ordinance requesting City Council permission to approve up to $2 billion in Chicago O’Hare International Airport General Airport Senior Lien Revenue Bonds, in addition to a request from the Department of Planning and Development to issue Multi-Family Housing Revenue Bonds for the Lawn Terrace Preservation Project and the Paul G. Stewart Apartments Phase III Tower Project. Cities approve these federal bonds to help finance the construction of multi-family housing projects catered to low-income families or elderly residents.

The City Council meeting calendar lists a public hearing on the O’Hare bonds. Pursuant to the requirements of Section 147 (f) of the International Revenue Code of 1986, the City must hold a public hearing, known as a TEFRA Hearing, before the full City Council can approve the issuance of these types of bonds. In past meetings, Finance Chairman Ed Burke (14) had read the statement announcing the hearing and then adjourn the meeting on the hearing within the next five minutes, because there were rarely members of the public present to testify. 

Noticeably missing from the agenda is an ordinance requiring more transparency and accountability from banks that hold the city’s money. The ordinance was introduced in June and is supported by the Mayor, City Treasurer, and Progressive Caucus, but has yet to be brought up in Committee. Last week, several members of the Progressive Caucus held a press conference demanding Chairman Burke add it to the agenda and accused the banks of putting pressure on Burke to keep it buried in committee. The ordinance would change the RFP process the city uses to select banks to hold its cash, in addition to requiring regular reports from banks detailing how it is investing in Chicago communities.

[Ed Note: A version of this article appeared in Friday’s subscriber edition. This version has been updated to include new reporting.]

This year’s city budget deficit is unprecedented, at least $425 million, possibly approaching a billion dollars, depending on whether or not pension reform is passed and how much of the city's pension liabilities and debt the city decides to pay back each year.

Aldermen and interested observers have suggested dozens of new revenue solutions, but as of yet the mayor's team has been tight lipped which ones he is likely to adopt. With the Mayor's budget proposal scheduled for introduction tomorrow, Aldertrack has assembled a “cheat sheet” of the various taxes, fees, and efficiencies under discussion.

In addition to combing through all the media coverage, we reached out to aldermen and their staff, state legislators, City officials, and lobbyists to assemble the list. Excluding the property tax and other big ticket items like TIF reform, or some sort of city income tax, the ideas listed here total more than $2 billion.

On Friday and over the weekend a series of “smoke signals” emerged from the mayor’s office, making the following items most likely:

• Property Tax: $450-$550M – As detailed in Thursday’s newsletter, this number might be misleading. It could be much bigger, or followed by a similar-sized hike next year. Leading aldermen and the mayor have said they plan to make a property tax increase “fair and progressive.”

• Property Tax Exemptions – There is wide agreement that an increased exemption is politically necessary to pass a property tax increase of any size. Last week Mayor Rahm Emanuel floated a plan to exempt those that own homes worth less than $250,000, but it requires approval from Springfield, and Gov. Bruce Rauner made it clear he won't sign any tax changes without linking it to elimination of government employee collective bargaining.

Aldermen and city budget officials are now examining ways a tax rebate, managed entirely by city and Cook County government, could be passed through a city ordinance. Such a plan would require creating a new bureaucratic structure to manage it, however. Potential plans include:

• Ald. Joe Moreno (1) has proposed a rebate plan that would rebate those with household incomes below $100,000.

• The Progressive Caucus is releasing a proposed rebate plan this morningthat would give families earning up to 400% of the poverty level ($63,720 a year for a couple) about a $400 rebate for a $250,000 house based on an anticipated $500 million property tax increase. There would be no residential rebate for those with higher incomes. (Presser scheduled for 9:30 a.m. today)

• Garbage Pickup Fee: $80M – Chicago is set to impose $9.50 garbage pickup fee per household. Senior citizens are supposed to get a 50% break. The weekend before the budget, word was that the fee would be $11-$12 a month, but Ald. Pat O’Connor (40) reportedly worked it down. Four years ago, Inspector General Joe Ferguson estimated a collection fee like this could bring in $125M, with an additional $18M if blue cart recycling fees were included. This fee could be folded into a property tax hike, to make it deductible from federal income taxes.

• Rideshare Fees and Licensing: $141M – A plan last weekend would put a proposed rideshare tax between 30 cents to 50 cents for each trip–higher at surge-pricing times. Taxi fares would increase by 15% in the overall fare that goes to cab drivers, and a 50-cents-per-ride charge as the city applies the rideshare fee to cab drivers as well. In addition, rideshare drivers would now be able to pick up travelers at O’Hare and Midway airports. Finance Chairman Ed Burke (14) championed a $1 fee on Uber or Lyft rides, and with Ald. Anthony Beale (9), he suggested an additional fee during surge pricing, which is when rates for rideshares jump. The Progressive Caucus has suggested Uber and Lyft drivers should be required to have the same licensing as cab drivers and chauffeurs.

• Congestion Fee: $145M – A tax aimed at reducing downtown traffic and pollution would require new city infrastructure, but could add up to a sizable new income stream. Last weekend, reports suggested Ald. Ed Burke was putting together a blue ribbon committee to look into how to implement it, possibly by charging a $10 fee on non-city cars entering the Central Business District that would be collected on city streets. Inspector General Joe Ferguson estimated in 2011 that a similar toll during morning and evening rush periods could raise $210 million, even after a 20% dip in traffic and a $300 million capital outlay for checkpoints equipped with cameras and electronic transmitters. Some money would also go to CDOT. Burke first brought the idea up in 2007, but was shot down by Mayor Richard M. Daley.

• Efficiencies From the Mayor’s Office: $170M – Carole Brown, the City’s Chief Financial Officer, said at a City Club event the mayor’s budget will include $170 million in budget cuts, reforms and efficiencies. The Mayor’s press office has released a piecemeal list so far, things like auctioning off city surplus goods ($2M), changes to grid garbage collection ($7M), and healthcare savings from a deal with the Labor Management Cooperation Committee ($20M).

The following items have been been mentioned as “possibilities” in Aldertrack’s discussions with aldermen and leading lobbyists.

• E-cigarette And Smokeless Tobacco Fees: $31M – Ald. Joe Moreno’s pitch to tax e-cigarette cartridges and containers would net the city approximately $1M in revenue. The bigger ticket item is a 20 to 30% tax on smokeless tobacco like chew or snuff. Moreno said he’d be willing to go as high as 70%. Mayor Emanuel, in one of few comments on aldermanic suggestions, told WLS-AM Radio there was a “building consensus” around a tax like this.

• Cloud Tax: $12-70M – The City’s Finance Department doesn’t consider this a new tax, but an enforcement of two existing taxes already in the books. Most analysts agree the real revenue number is much higher, probably closer to $70M once a full assessment is completed. After pushback from the local tech community and businesses who rely on cloud data, enforcement of the tax was delayed until January and an exemption was issued for small companies. Greg Hinz reported this weekend that the tax will go to 5.25%, down from the earlier 9%, although streaming services, like Netflix, will still carry at 9% tax. There’s a court challenge to the ruling already in Cook County chancery court from the the nonprofit Liberty Justice Center, an arm of the Illinois Policy Institute.

• Sugar-Sweetened Beverage Tax: $134M – Ald. George Cardenas (12), chairman of the Committee on Health and Environmental protection, held a hearing on a proposed penny per ounce tax on sugar sweetened drinks, including soda, some juices, Kool-Aid, and Gatorade. Cardenas says he is waiting for clarification from the Law Department before he calls it for a vote in committee, as there are two existing taxes on soda in the City.

• Zero Waste Program: $29M – The Progressive Caucus wants to require buildings to break down recyclable materials by category so they can be reprocessed and sold to recycling companies at profit. The Caucus estimates it could raise $299 million over 10 years.

• Stormwater Stress Tax: >$10M estimate – A tax on big box stores and other buildings whose large parking lots put an additional stress on city drainage systems is another Progressive Caucus plan. This tax could hit hospitals, schools, and nonprofits, too, but aldermen didn’t put a price tag on this suggestion or talk about possible exemptions.

• Conservation Pricing for Bulk Utility Users: >$10M estimate – Another Progressive Caucus pitch would be for the City to charge bulk users of water, electricity, garbage collection, and stormwater drainage at higher rate. “Large entities like big box retailers, industry, and even universities and hospitals could potentially even subsidize lower rates for lower income Chicagoans,” the Caucus press materials say, but again, the proposal doesn’t include a price tag.

• Fold Chicago Board of Elections Into Cook County Clerk: $13M – The Civic Federation has backed this idea, and the Progressive Caucus revived it in their recent budget suggestions. In a 2011 brief, Civic Fed said combining the two agencies would be more user-friendly, reduce voter confusion about where to stand and which machines to use on Election Day, reduce duplication, make it easier to find election results, and save money.

• PILOT Program: no estimate – A PILOT (Payment In Lieu of Taxes) Program in Chicago, modeled after a similar one in Boston, would compel nonprofits exempt from property taxes to pay a voluntary fee to the City, and is supported by the Progressive Caucus. Some of that money would come from universities, and possibly from hospitals and churches. Since it’s a voluntary program and payments are generally negotiated between municipalities and nonprofits, it’s hard to predict how much money this could raise, or how long it could take to implement. Boston’s PILOT program brought in roughly $28M in FY 2015.

• Investor Landlord Refuse Fee: no estimate – Another Progressive Caucus idea targets investor landlords, who rent out extra properties. Landlords renting out non-owner occupied single family homes and small apartment buildings would pay the cost of garbage collection. No estimates on revenue were provided.

• Luxury Tax: no estimate – A tax non-essential, high-value purchases like fur coats, high-end jewelry and boats above a certain price point, plus services like pet grooming, travel services, plastic surgery, investment counseling and architects was also pitched by the Progressive Caucus. Ald. David Moore(17) has also suggested a tax on luxury real estate transactions, but neither the Caucus nor Moore suggested how much money the City could make from such taxes.

• Increased Fee on O’Hare, Midway, Navy Pier Concessions: no estimate – Ald. David Moore, an accountant, proposed an increase on the percentage fee of gross sales from concessions at O’Hare International Airport, Midway Airport, and Navy Pier. Moore’s press spokesperson didn’t return requests for comment on how much they expect the fee to generate.

• $2.50 Hotel Surcharge: no estimate – Given a record-setting 50 million visitors to Chicago in 2014, Ald. David Moore pitched a $2.50 surcharge per stay, not per night, on the city’s hotels. Moore’s press spokesperson didn’t return requests for comment on how much this would generate, only saying in a press release it would “generate millions.”

• $25 Bike License: no estimate – Ald. Pat Dowell (3) first floated this idea in 2013 as an offset to a cable TV tax increase. Licensing would also require a 1 hour safety training course. A 2012 census suggested more than 19,000 people commute on bikes to work in the city, and that number has almost certainly gone up with the introduction and expansion of Divvy. But even if that census number doubled, licensing fees would generate less than $1M. At the time, Ron Burke, executive director of the Action Transportation Alliance, called bike licensing prohibitively complicated and costly to administer.

• Vehicle Fuel Tax: no estimate – Chicago already has a $0.05 per gallon gasoline tax, which the Mayor says will generate less money every year because of increased fuel efficiency standards. A potential hike is also being floated at the state level to help pay for infrastructure projects. Chicagoans already pay the nation's highest collection of federal, state, and county fees and taxes at the pump.  

• City Income Tax: no estimate – Ald. Joe Moore (49) has proposed a graduated city income tax that applies to all wages earned in Chicago, including suburbanites who commute to work in the City. This would require authorization from Springfield, and could potentially tax the rich at a higher rate, but Moore did not give specifics on rates or income brackets.

• Moving Truck Permit: no estimate – A permit to prevent booting and ticketing for moving and delivery trucks in the central business district and throughout the city was pitched this week by Ald. Brian Hopkins (2). Daily permits would range from $4- $20 daily, $20-$100 monthly and $200-$1,000 annually depending on whether the truck operates in the Central Business District or outside of it. Hopkins didn’t release an estimate of how much permitting would generate versus revenue from tickets and booting fees.

• City Switch to Fiber Optic Network: no estimate – Ald. Hopkins also proposed the city build on existing emergency communication infrastructure and switch from private internet services to a faster, more reliable fiber optic network. He estimates the city could “easily” save $100M in the first two or three years after making the switch.

• Ward-Controlled Video Gaming/Gambling: $20M – Gamblers heading to play video poker outside city limits might not have to travel so far, if a proposal from Ald. Raymond Lopez (15) gains some traction. His proposal would allow aldermen to approve licenses to bar/restaurants who want to install video gaming machines in a process similar to liquor licenses. Lopes estimates if everyone eligible opted in and were approved by their alderman, it would generate $16M a year, plus $4M in licensing fees. Lopez has already faced pushback from mayoral allies Ald. Ameya Pawar (47) and Ald. Pat O’Connor(40), who is concerned that video gaming might take away the draw of a land-based casino downtown.

• Land-Based Casino: $450M – Mayor Emanuel has told aldermen in recent budget meetings that he plans to expend his political capital in Springfield on finally bringing a land-based casino to the City. Revenues would go toward funding police and fire pensions. Downtown business leaders have been for the casino, which they say would lead to more hotel stays, shopping and restaurant visitors. But it’s been a slog–Gov. Pat Quinn vetoed the mayor’s first try in 2012, saying he worried about city ownership and gambling industry influence on politicians. The Mayor might also get pushback from Chicago-area casinos who don’t want any more competition. Gov. Rauner has declared himself more open-minded than Gov. Quinn. Estimates about how much a Chicago casino would make vary based on different proposals floated in Springfield in May and June. According to state projections, a city-owned casino could generate at least $457 million a year, with more than $200 million of that to be paid to the state in taxes.

• Food Cart Licensing: $2M – An ordinance to license and regulate mobile food carts has passed in the License Committee without vocal objection. Approved vendors who pass Health Department inspection will have to pay a $350 license fee. A representative from the Illinois Policy Institute suggested revenue from licensing for all existing vendors, who currently operate illegally, could generate $2M, and grow to $8M, depending on penetration. It’s up for a vote in the Sep 24th council meeting, and has vocal support from License Chair Emma Mitts (37).

• Financial Transactions/Lasalle Street Tax: no estimate – A small tax on financial transactions like the selling and buying of stocks, bonds, and options has been floated by several aldermen, but would require Springfield approval. Chicago State Rep. Mary Flowers brought up a .01% tax in the General Assembly in 2013. Her bill would have imposed a levy on any commodities and stocks transactions made on the Chicago Stock Exchange, the Chicago Mercantile Exchange, the Chicago Board of Trade and the Chicago Board Options Exchange. In 2011, Inspector General Joe Ferguson said a penny-per-transaction tax could generate $38M for Chicago. William Barclay, an economist advising the CTU, said a $1-to-$2 tax could raise up to $12 billion a year for Illinois. The Sun-Times Editorial Board called that $12 billion figure a fairy tale, and said the mayor was opposed.

• Corporate Income Tax: no estimate – Ald. Ameya Pawar (47), one of the driving forces behind the establishment of an independent financial office for City Council, has suggested easing the hit of a property tax increase by creating a corporate income tax for large businesses. He sees it as an alternative to a financial transactions tax, which he says would negatively affect pensions. The change would require Springfield approval. He says New York City has successfully implemented the tax without scaring big business away, but hasn’t suggested a rate or estimated revenue.

• Temporary Amnesty for Outstanding Debt to City: $1M-$7M – Under an amnesty program proposed by Mayor Emanuel, any individual or business that owes the City money for parking tickets and other violations and taxes from before 2012 will be granted amnesty for the penalties and interest previous tickets or violations have accrued. Individuals will still pay the ticket or fine value, but will receive amnesty from the penalties and interests associated with failure to pay. Previous programs in 2002 and 2009 collected between $7 and $8 million, but the Office of Budget and Management put out a conservative $1M revenue estimate.

• Restaurant Tax Increase: $25M – A possibility discussed by some lobbyists and aldermen, the city already has a quarter percent restaurant tax which brings in around $25M, the city could double it and call it a "progressive" tax, since most restaurant-goers have more discretionary income.

The Chicago Plan Commission quickly approved Mayor Rahm Emanuel’s plan to sell four city-owned parking lots in River North to help close next year’s budget gap.

The $12.4 million sale was negotiated through a public, two-phase bidding process held over the summer and the City got 60% more than the appraised value for the sites, according the Mayor’s office.

Three of the four surface parking lots will go to the Belgravia Group, one will go to the Morningside Group, and all of the lots will be redeveloped for residential use, according to the application documents provided at the Plan Commission meeting (by address: 366 W. Superior St. / 356 W. Huron St. / 356 W. Erie St. / 366 W. Erie St.)

The applications were approved with the rest of the negotiated sales on the agenda in the first ten minutes of the meeting, but the plans will still need approval from the City Council Committee on Housing and Real Estate before heading to the full City Council for a vote. (It's unlikely Housing will have another meeting before the full City Council meets next Thursday, as they have already met twice in the last two weeks).

Ald. Tom Tunney (44) was the only commissioner to express concern over the sale, calling the lots “huge zoning...developable sites.” He asked Commissioner Patti Scudiero, the City’s Zoning Administrator, to provide additional details about the current zoning designation, the price per square footage and why the letter of support from the local alderman, Brendan Reilly (42), wasn’t included in the zoning packet.

Scudiero said Ald. Reilly sent the letter earlier that day, and it had yet to be incorporated into the packet. She added that one of the properties is within the boundaries of an existing planned development, and the other three are zoned as Downtown districts.

“Well, if they are parking lots, I think we will see them very quickly with a request for a big development,” Tunney replied, laughing, as a lot of the downtown development plans that go before the Plan Commission are on former or current surface parking lots.

After going through the negotiated sales, the Commission moved on to the big ticket items (Section D). There was little public testimony, except from City Council fixture George Blakemore and Bob Israel, president of Save Our Community Coalition. Israel usually asks developers about their plans to hire minority contractors.

The proposed residential building across the new, elevated 606 Bloomingdale Trailgot the most discussion time. Here are the highlights:

Approved: Proposed 6-story Mixed-Use Building Next to New 606 Trail - 32nd Ward
1749 N. Milwaukee Ave. | O2015-5371 | Introduced: 7/29/2015

There was great deal of questions regarding this application, mainly from Ald. Walter Burnett (27), a member of the Commission, who wanted to know more about the Department of Planning and Development's plans to address what he called a mass “land grab” of developable property around the new elevated 606 Bloomingdale Trail. Ald. Burnett recalled a trip he made to New York City with former DPD Commissioner Andrew Mooney to see how New York was handling development around the High Line Park, which the 606 is modeled after.

“Currently, we do not have any policies scheduled for the 606 trail,” DPD’s Noah Szafraniec responded, “but we did put the applicant in touch with the Trust for Public Land, and they have had several meetings with them about how to help the trail be successful in the future.”

Burnett said in New York City developers building around the Highline will pay for public amenities like bathrooms and entrances to the elevated trail, and in return, the city lets them build taller. “I just wanted to mention that, because maybe we might want to think about that in the future,” Burnett explained. “So, maybe we can make some deals and get a little more out of it for the public.”

Centrum Partners is proposing to build a six-story, residential and commercial building overlooking the newly opened elevated trail. The subject property is centrally located on Milwaukee Avenue between the Damen and Western CTA Blue Line stops, and the Leavitt street frontage is across the street from one of the entrances to the trail.  The joint venture between Centrum Partners and McLinden Holdings, LLC includes commercial retail, a refurbished Aldi’s Supermarket at the base, and 95 residential units split among the top four floors. The approximately 59,000 sq ft site will include a 60 car surface parking lot for shoppers and a 62 car basement garage for residents.

The architect, Howard Hirsch, said the project went through numerous revisions as a result of local community concerns, eventually coming to an agreement with neighbors to downscale to 95 units and reduce the size of the top floor. Hirsch said they “significantly increased the landscaping” as well. John McLinden, with Centrum Partners, said they are coordinating the landscaping with DPD and the Public Land Trust, but will foot the bill for any new public amenities added on or around the elevated trail.

But Centrum won’t add any affordable housing units on site. The Affordable Requirements Ordinance (ARO) requires 10 affordable units or a cash payment of $1 million to the Affordable Housing Trust Fund ($100,000 per affordable housing unit not included). Developers chose the payment, which Ald. Burnett found disappointing.

“From what we have been reading in the media, the property values in the area are exploding, which is a good thing, but we need not forget about folks who can’t afford to live in these communities as they explode and we need to keep that under consideration,” Burnett said, suggesting that DPD consider additional bonuses for developers who commit to adding affordable units around the 606.

Ald. Scott Waguespack (32), whose ward encompasses the site, said he was mostly glad that the Aldi’s was staying, adding that the developers decision to keep the supermarket is why residents were in support of the project. He also noted that there won't be much more development on that side of the 606, because there isn't a lot of available land left.

Approved: Proposed Apartment-Office Space Complex in Ravenswood - 47th Ward
4801 N. Ravenswood Ave. | O2015-5333 | Introduced: 7/29/2015

The Plan Commission approved an application to downzone 1.735 acres in the Ravenswood Industrial Corridor to facilitate the rehab of an old, four-story manufacturing and office building. According to the applicant’s attorney, Warren Silver, with the Silver Law Office, the subject building, built in the 1920s, has always been used for office space. Hayes Properties wants to transform the nearly century-old property into a mixed-use apartment and office building with 36 apartment units, a little over 90,000 sq. ft. of office space, and enough parking for 69 cars. Silver called it a great site for transit oriented development (although the application isn’t classified as a TOD). The property is on the Northeast corner of Lawrence & Ravenswood Ave., adjacent to the METRA Union Pacific Railroad tracks. There aren’t any plans for retail, but the developers are considering adding a daycare facility on site.

Hayes acquired the building in 2014 after the property’s former tenants, Newark Corporation, an electronic company, relocated to the West Loop. The $6 million rehab is expected to create 20 construction and 260 permanent jobs.

Approved: Bucktown’s WhirlyBall Seeks Rooftop Patio - 32nd Ward
1823 W. Webster Ave. | O2015-4633 | Introduced: 6/17/2015

The Plan Commission approved a downzone so the WhirlyBall in Bucktown can serve liquor on their second floor rooftop patio. Samuel Elias, the owner of three WhirlyBall amusement centers, applied for a downzone from a Manufacturing district to a Neighborhood Commercial District to permit outside use of the existing patio at the chain’s new 50,000 sq. ft. headquarters, located directly off the Kennedy Expressway. WhirlyBall is a sport that combines lacrosse, basketball and bumper cars. The indoor recreational facilities are popular for group events and alcohol is already served inside the building. “[The patio] has a beautiful view of downtown Chicago, customers of the company certainly want to be able to eat and drink out on that patio. It’s a very nice amenity,” said Elias’ attorney, Jim Griffin, with the law offices of Schain, Banks, Kenny & Schwartz, Ltd. Griffin said his client will apply for a special use permit to serve the alcohol once the downzone is approved by the City Council. Plans also include the construction of an off-site parking lot for 120 cars. No one signed up to testify on the application.

Structured Development Wants to Add more Retail near the Clybourn Corridor - 27th Ward
1450 N. Dayton St. | O2015-1357 | Introduced: 3/18/2015

Structured Development, the real estate firm behind the massive New City retail development project in the Clybourn Corridor, got the green light from the Plan Commission to demolish the three existing buildings along Dayton Street in the Halsted Triangle to construct one large, four-story building that will be half office space (110,000 sq ft) and commercial retail (103,000 sq ft).

Plans drafted by Chris Tokarz, with RTKL Architects, include a multi-level, open air parking structure for 550 cars located behind the building.  According to the applicant’s attorney, Nick Ftikas, with the law offices of Sam Banks, the retail space will take up the first two floors, and the offices will be on the top two floors. Structured Development is still looking for an anchor tenant to occupy the space.  

Commissioner Tunney was concerned that the the parking garage was a bit large for such a congested area. Structured Development’s Jeff Burda said that large retail sites need a lot of parking and added that their New City development has mediated the car congestion by adding a new street, Schiller Street, connecting Old Ogden Avenue and Clybourn Avenue to Halsted Street.

Structured and Big Deahl Productions Inc. filed a joint application under the name Big Deahl, LLC to establish a business planned development for the triangle shaped lot. The area is currently zoned as a Commercial district (C3-5), so the office space is allowed, but the retail component is not, which is why the application needed approval from the Plan Commission. Four people testified on the topic, two against, two in favor.

Approved: Proposed Fulton Market Office Building - 27th Ward
213-223 N. Peoria St. | O2014-8814 | Introduced: 11/5/2014

While this was the oldest application on the agenda, it is the first Fulton Market development plan to go before the Plan Commission since the City Council officially designated the neighborhood as a Landmark District on July 29. The applicant, SRI-ASW Green Owner, LLC and 219 Partners, LLC, an entity controlled by Shapack Partners’ founding principal Jeff Shapack, got approval from the Plan Commission to rezone and designate three properties as Business Planned Development.

The draft plan is divided into three subareas A, B, and C. Subarea B is the only property located within the Fulton Randolph Market District and the only property with an existing structure, a three and six story building that was formerly occupied by the Amity Packing Company, according to the applicant’s attorney, Richard Klawiter, with DLA Piper. Klawiter said the property has been “historically renovated to accommodate a ‘we work’ shared office space concept” and is designated as a contributing building to the historic landmark district. Subareas A and C are currently surface parking lots located in the Kinzie Industrial Corridor TIF District. Developers plan to build a one story (5,100 sq ft) commercial building in Subarea A, restore the existing buildings in Subarea B, and add a new 11 story office building with a rooftop penthouse and deck in Subarea C. The new office building will have ground floor retail, parking for 59 cars on the 2-5 floors, and loft-style offices on the remaining top floors.

Shapack Partners acquired the 13,000 sq ft parking lot on 213-223 N. Peoria St. in 2013, and the vacant double wide parking lot on 217-219 N. Green Street in 2014.

Adjacent Neighbors Sales

• 2713 W. Jackson Boulevard (27th Ward) - The Commission approved the sale of the 2,090 sq ft lot to Megan Hammaser for $2,000. The property is valued at $11,500.

• 4832 S. Princeton Ave. (3rd Ward) - The Commission approved the sale of the 3,240 sq ft lot located in the Fuller Park Community Area to Karina Paredes for $1,000. The lot is valued at $4,500.

• 12617 S. Saginaw Ave (10th Ward) - The Commission approved the sale of the 3,123 sq ft lot located in the Hegewisch Community Area to Karla Ruzich for $1,000. The lot is valued at $6,250.

• 40 N. Francisco Ave. (27th Ward) - The Commission approved the sale of the 875 sq ft lot in the East Garfield Park Community Area to Julia M. Brown for $1,000. The lot is valued at $6,250.

Other Negotiated Sales

• 11932 S. Wallace St. (34th Ward) - The Commission approved the sale of the 3,083 sq ft lot in the West Pullman Neighborhood to George W. Pearce, Sr. for $1,000, which is the appraised value.

• 6401, 6405, 6415-6427 South Stewart Ave (20th Ward) - The Commission approved the sale of six parcels of city-owned land (approximately 34,000 sq ft) in the Englewood neighborhood to St. Bernard Hospital so the hospital can expand their existing parking lot. The parcels will be sold at their appraised value ($6,800).
• 1343 W. 51st Street (20th Ward) - The Commission approved the sale of an approximately 3,100 sq ft vacant lot in the New City Community area to Arturo Hernandez and Avelina Guzman for the appraised value ($7,000).

The size of city's budget hole is unprecedented this year, at least roughly $425 million, possibly approaching a billion, depending on whether or not pension reform is passed and how much of the city's pension liabilities and debt the city decides to pay back each year.

Aldermen and interested observers have suggested dozens of new revenue solutions, but as of yet the mayor's team has been tight lipped which ones he is likely to adopt. With the Mayor's budget proposal scheduled for introduction next Tuesday, Aldertrack has assembled a “cheat sheet” of the various taxes, fees, and efficiencies under discussion.

In addition to combing through all the media coverage, we reached out to aldermen and their staff, state legislators, City officials, and lobbyists to assemble the list. Excluding the property tax and other big ticket items like TIF reform, or some sort of city income tax, the ideas listed here total more than $2 billion.

• 
  

  Property Tax: $450-$550M – As detailed in Thursday’s newsletter, this number might be misleading. It could be much bigger, or followed by a similar-sized hike next year. Leading aldermen and the mayor have said they plan to make a property tax increase “fair and progressive.”

  
  


• Property Tax Exemptions – Almost everyone we've spoken to agrees that an increased exemption is a politically necessary accompaniment to a property tax increase of any size. Earlier this week Emanuel floated a plan to exempt those that own homes worth less than $250,000, but it requires approval from Springfield, and Gov. Bruce Rauner made it clear he won't sign any tax changes without linking it to elimination of government employee collective bargaining.Aldermen and city budget officials are now examining ways a tax rebate, which could be managed entirely by city and Cook County government, could be passed through a city ordinance. Such a plan would require creating a new bureaucratic structure to manage it, however. Ald. Joe Moreno (1) has proposed a rebate plan that would rebate those with household incomes below $100,000. Ald. Carlos Rosa-Ramirez (35) is also working on a plan of his own, due to be released on Monday.


• 
  

  Efficiencies From the Mayor’s Office: $170M – The Mayor has said multiple times he and Budget Director Alex Holt are trying their best to find efficiencies in City government before asking taxpayers to cough up more money. Carole Brown, the City’s Chief Financial Officer, said at a City Club event the mayor’s budget will include $170 million in budget cuts, reforms and efficiencies. But a full list detailing those cuts hasn’t been released. What the Mayor’s press office has released is piecemeal, things like auctioning off City surplus goods ($2M), changes to grid garbage collection ($7M), and healthcare savings from a deal with the Labor Management Cooperation Committee ($20M).

  
  


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  E-cigarette And Smokeless Tobacco Fees: $31M – Ald. Joe Moreno’s (1) pitch to tax e-cigarette cartridges and containers would net the city approximately $1M in revenue. The bigger ticket item is a 20 to 30% tax on smokeless tobacco like chew or snuff. Moreno said he’d be willing to go as high as 70%. Mayor Emanuel, in one of few comments on aldermanic suggestions, told WLS-AM Radio there was a “building consensus” around a tax like this.

  
  


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  Cloud Tax: $12M – The City’s Finance Department doesn’t consider this a new tax, but an enforcement of two existing taxes already in the books. Most analysts agree the real revenue number is much higher, probably closer to $70M once a full assessment is completed. It has proven controversial among not only users of streaming services like Netflix, Hulu, and Spotify, but also the local tech community and businesses who rely on cloud data. Enforcement of the tax has been delayed until January. There’s a court challenge to the ruling already in Cook County chancery court from the the nonprofit Liberty Justice Center, an arm of the Illinois Policy Institute.

  
  


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  Garbage Pickup Fee: $70M – Days before the budget release, Ald. Joe Moore (49) said Mayor Emanuel floated the idea to slap a $9.50 fee on garbage pickup, and may be tucked into the budget. If all eligible homeowners paid the fee, it could generate $70M. Earlier this summer, Ald. Roderick Sawyer (6) suggested a nominal fee on garbage collection is “worth looking at,” but got pushback from some aldermen on the south and west sides. Four years ago, Inspector General Joe Ferguson estimated a collection fee like this could bring in $125M, with an additional $18M if blue cart recycling fees were included. This fee could be folded into a property tax hike, so it can be deducted from federal income taxes.

  
  


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  Sugar-Sweetened Beverage Tax: $134M – Ald. George Cardenas (12), chairman of the Committee on Health and Environmental protection, held a hearing on a proposed penny per ounce tax on sugar sweetened drinks, including soda, some juices, Kool-Aid, and Gatorade. The tax received pushback from the Illinois Restaurant Association and the Chicago Coalition Against Beverage Taxes but support from health officials. When asked about the ordinance, Mayor Emanuel said “there are a lot of savings as it relates to our budget in healthcare…changing people’s behavior can be a big savings financially, as well as improve healthcare outcomes.” Cardenas is waiting for clarification from the Law Department before he calls it for a vote in committee,as there are two existing taxes on soda in the City. It’s unlikely the committee will meet before full Council September 24.

  
  


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  Rideshare Fees and Licensing: $77M – Finance Chairman Ed Burke (14) has championed a $1 fee on Uber or Lyft rides, and Ald. Anthony Beale (9) supports an additional fee during surge pricing, which is when rates for rideshares jump (double fee for 2x surcharge, triple for 3x, and so on), but Beale didn’t provide an estimate on how much revenue the surge pricing fee could generate the city. The Progressive Caucus has suggested Uber and Lyft drivers should be required to have the same licensing as cab drivers and chauffeurs. Assuming there are 5,000 rideshare drivers in Chicago, the Caucus says licensing could generate more than $7M.

  
  


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  Zero Waste Program: $29M – The Progressive Caucus wants to require buildings to break down recyclable materials by category so they can be reprocessed and sold to recycling companies at profit. The Caucus estimates it could raise $299 million over 10 years.

  
  


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  Stormwater Stress Tax: >$10M estimate – A tax on big box stores and other buildings whose large parking lots put an additional stress on city drainage systems is another Progressive Caucus plan. This tax could hit hospitals, schools, and nonprofits, too, but aldermen didn’t put a price tag on this suggestion or talk about possible exemptions.

  
  


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  Conservation Pricing for Bulk Utility Users: >$10M estimate – Another Progressive Caucus pitch would be for the City to charge bulk users of water, electricity, garbage collection, and stormwater drainage at higher rate. “Large entities like big box retailers, industry, and even universities and hospitals could potentially even subsidize lower rates for lower income Chicagoans,” the Caucus press materials say, but again, the proposal doesn’t include a price tag.

  
  


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  Fold Chicago Board of Elections Into Cook County Clerk: $13M – Civic Fed has backed this idea, and the Progressive Caucus revived it in their recent budget suggestions. In a 2011 brief, Civic Fed said combining the two agencies would be more user-friendly, reduce voter confusion about where to stand and which machines to use on Election Day, reduce duplication, make it easier to find election results, and save money.

  
  


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  PILOT Program: no estimate – A PILOT (Payment In Lieu of Taxes) Program in Chicago, modeled after a similar one in Boston, would compel nonprofits exempt from property taxes to pay a voluntary fee to the City, and is supported by the Progressive Caucus. Some of that money would come from universities, and possibly from hospitals and churches. Since it’s a voluntary program and payments are generally negotiated between municipalities and nonprofits, it’s hard to predict how much money this could raise, or how long it could take to implement. Boston’s PILOT program brought in roughly $28M in FY 2015.

  
  


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  Investor Landlord Refuse Fee: no estimate – Another Progressive Caucus idea targets investor landlords, who rent out extra properties. Landlords renting out non-owner occupied single family homes and small apartment buildings would pay the cost of garbage collection. No estimates on revenue were provided.

  
  


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  Luxury Tax: no estimate – A tax non-essential, high-value purchases like fur coats, high-end jewelry and boats above a certain price point, plus services like pet grooming, travel services, plastic surgery, investment counseling and architects was also pitched by the Progressive Caucus. Ald. David Moore (17) has also suggested a tax on luxury real estate transactions, but neither the Caucus nor Moore suggested how much money the City could make from such taxes.

  
  


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  Increased fee on O’Hare, Midway, Navy Pier Concessions: no estimate – Ald. David Moore (17), an accountant, proposed an increase on the percentage fee of gross sales from concessions at O’Hare International Airport, Midway Airport, and Navy Pier. Moore’s press spokesperson didn’t return requests for comment on how much they expect the fee to generate.

  
  


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  $2.50 Hotel Surcharge: no estimate – Given a record-setting 50 million visitors to Chicago in 2014, Ald. David Moore (17) pitched a $2.50 surcharge per stay, not per night, on the city’s hotels. Moore’s press spokesperson didn’t return requests for comment on how much this would generate, only saying in a press release it would “generate millions.”

  
  


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  Congestion Fee: $210M – A tax aimed at reducing traffic and pollution would take some infrastructure changes, but could take a big chunk out of the budget gap. Inspector General Joe Ferguson estimated in 2011 that a $5 toll on cars entering the Central Business District during morning and evening rush periods could raise $210 million, even after a 20% dip in traffic and a $300 million capital outlay for checkpoints equipped with cameras and electronic transmitters (similar to EZPasses that can be used on the Indiana Toll Road and the Chicago Skyway). Some money would also go to CDOT. Finance Chairman Ed Burke (14) first brought the idea up in 2007, but was shot down by Mayor Richard M. Daley.

  
  


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  $25 Bike License: no estimate – Ald. Pat Dowell (3) first floated this idea in 2013 as an offset to a cable TV tax increase. Licensing would also require a 1 hour safety training course. A 2012 census suggested more than 19,000 people commute on bikes to work in the city, and that number has almost certainly gone up with the introduction and expansion of Divvy. But even if that census number doubled, licensing fees would generate less than $1M. At the time, Ron Burke, executive director of the Action Transportation Alliance, said bike licensing would be prohibitively complicated and costly to administer.

  
  


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  Vehicle Fuel Tax: no estimate – Chicago already has a $0.05 per gallon gasoline tax, which the Mayor says will generate less money every year because of increased fuel efficiency standards. A potential hike is also being floated at the state level to help pay for infrastructure projects. Chicagoans already pay the nation's highest collection of federal, state, and county fees and taxes at the pump, and might not take another one on top of Cook County’s recently increased sales tax.

  
  


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  City Income Tax: no estimate – Ald. Joe Moore (49) has proposed a graduated city income tax that applies to all wages earned in Chicago, including suburbanites who commute to work in the City. This would require authorization from Springfield, and could potentially tax the rich at a higher rate, but Moore did not give specifics on rates or income brackets.

  
  


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  Moving Truck Permit: no estimate – A permit to prevent booting and ticketing for moving and delivery trucks in the central business district and throughout the city was pitched this week by Ald. Brian Hopkins (2). Daily permits would range from $4- $20 daily, $20-$100 monthly and $200-$1000 annually depending on whether the truck operates in the Central Business District or outside of it. Hopkins didn’t release an estimate of how much permitting would generate versus revenue from tickets and booting fees.

  
  


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  City Switch to Fiber Optic Network: no estimate – Ald. Hopkins also proposed the city build on existing emergency communication infrastructure and switch from private internet services to a faster, more reliable fiber optic network. He said the money saved could be reinvested toward expansion of the municipal network to reach communities that need fast, affordable access. He said similar switches in Santa Monica, Chattanooga, and Aurora spurred economic growth. He estimates the city could “easily” save $100M in the first two or three years after making the switch.

  
  


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  Ward-Controlled Video Gaming/Gambling: $20M – Gamblers heading to play video poker outside city limits might not have to travel so far, if a proposal from Ald. Raymond Lopez (15) gains some traction. He says similar to liquor licenses, aldermen can dole out licenses to bar/restaurants who want to install video gaming machines. He estimates if everyone eligible opted in and were approved by their alderman, it would generate $16M a year, plus $4M in licensing fees. Sources say he’s been trying to build support among other aldermen who with wards on the city’s limits. Lopez has already faced pushback from mayoral allies Ald. Ameya Pawar (47) and unofficial floor leader Ald. Pat O’Connor (40). O’Connor said video gaming might take away the draw of a land-based casino downtown.

  
  


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  Land-Based Casino: $450M – Mayor Emanuel has told aldermen in recent budget meetings that he plans to expend his political capital in Springfield on finally bringing a land-based casino to the City. Revenues would go toward funding police and fire pensions. Downtown business leaders have been for the casino, which they say would lead to more hotel stays, shopping and restaurant visitors. But it’s been a slog–Gov. Pat Quinn vetoed the mayor’s first try in 2012, saying he worried about city ownership and gambling industry influence on politicians. The Mayor might also get pushback from Chicago-area casinos who don’t want any more competition. Gov. Rauner has declared himself more open-minded than Gov. Quinn. Estimates about how much a Chicago casino would make vary based on different proposals floated in Springfield in May and June. According to state projections, a  city-owned casino could generate at least $457 million a year, with more than $200 million of that to be paid to the state in taxes.

  
  


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  Food Cart Licensing: $2M – An ordinance to license and regulate mobile food carts has passed in the License Committee without vocal objection. Approved vendors who pass Health Department inspection will have to pay a $350 license fee. A representative from the Illinois Policy Institute suggested revenue from licensing for all existing vendors, who currently operate illegally, could generate $2M, and grow to $8M, depending on penetration. It’s up for a vote in the Sep 24th council meeting, and has vocal support from License Chair Emma Mitts.

  
  


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  Financial Transactions/Lasalle Street Tax: no estimate – A small tax on financial transactions like the selling and buying of stocks, bonds, and options has been floated by several aldermen, but would require Springfield approval. Chicago State Rep. Mary Flowers brought up a .01% tax in the General Assembly in 2013. Her bill would have imposed a levy on any commodities and stocks transactions made on the Chicago Stock Exchange, the Chicago Mercantile Exchange, the Chicago Board of Trade and the Chicago Board Options Exchange. In 2011, Inspector General Joe Ferguson said a penny-per-transaction tax could generate $38M for Chicago. William Barclay, an economist advising the CTU, said a $1-to-$2 tax could raise up to $12 billion a year for Illinois. The Sun-Times Editorial Board called that $12 billion figure a fairy tale, and said the mayor was opposed.

  
  


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  Corporate Income Tax: no estimate – Ald. Ameya Pawar (47), one of the driving forces behind the establishment of an independent financial office for City Council, has suggested easing the hit of a property tax increase by creating a corporate income tax for large businesses. He sees it as an alternative to a financial transactions tax, which he says would negatively affect pensions. The change would require Springfield approval. He says New York City has successfully implemented the tax without scaring big business away, but hasn’t suggested a rate or estimated revenue.

  
  


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  Temporary Amnesty for Outstanding Debt to City: $1M-$7M – Under an amnesty program proposed by Mayor Emanuel, any individual or business that owes the City money for parking tickets and other violations and taxes from before 2012 will be granted amnesty for the penalties and interest previous tickets or violations have accrued. Individuals will still pay the ticket or fine value, but will receive amnesty from the penalties and interests associated with failure to pay. Previous programs in 2002 and 2009 collected between $7 and $8 million, but the Office of Budget and Management put out a conservative $1M revenue estimate.

  
  


• Restaurant Tax Increase: $25M – A possibility discussed by some lobbyists and aldermen, the city already has a quarter percent restaurant tax which brings in around $25M, the city could double it and call it a "progressive" tax, since most restaurant-goers have more discretionary income.

As aldermen gear up for Mayor Emanuel’s budget release and a long fall of meetings, freshman Ald. Brian Hopkins (2) released two proposals–one suggesting the City switch telecom services from private to existing fiber optic network, and another for a new service permit for all moving and delivery vehicles.

“This is the time to be creative,” Hopkins said in one of his releases. “We can’t be one dimensional when trying to solve Chicago’s fiscal woes.”

The permit ordinance would apply to moving or delivery trucks carrying household or commercial furniture or packages, according to the press release. One permit would apply for parking anywhere in the city, and would cost $20/day, $100/month, or $1000/year. Permits limited to parking outside the central business district (bordered by Halsted on the west and extending all the way to the lake, up north to Chicago until it hits LaSalle, then all the way to Division on the north, and Roosevelt on the South) would be $4/day, $20/month, and $200/year.

Fines for parking a commercial truck in a non-permitted area could mean a $60 boot fee, and a $125 parking violation. For trucks over 4,500 lbs., the boot fee jumps to $400, plus a $125 parking ticket, plus fees if the car is towed.

Hopkins says this benefits both sides: the City gets some money, and drivers don’t have to constantly worry about booting and parking tickets.

He paints the fiber network pitch with the same brush. “We should follow other cities by switching all municipal government broadband access from private incumbent providers to a taxpayer-owned fiber network. The money saved can be reinvested into the expansion of the municipal network to finally reach those communities that need fast affordable access. Why would we not do this?”

Building on the existing fiber optic network controlled and managed by OMEC for traffic, first responder, and emergency services could save the City tens of millions, Hopkins noted in his press release. He says faster broadband speeds will lead to more efficient city services, too.

The Sun-Times notes that telecom revenue in the city has dipped precipitously since consumers started ditching cell phones for landlines, from $147.7M in 2005 to to $104.9 million projected by the end of this year.

The Committees on Pedestrian & Traffic Safety and Transportation and Public Way are scheduled to meet this morning to discuss mostly routine parking and traffic matters. The only non traffic matter the Transportation & Public Way Committee will take up is the mayoral reappointment of Terrance P. Fitzmaurice, the business manager of the Painters’ District Council #14, to the Illinois International Port District Board. The nine member board is the governing, administrative, and policy making body for the port district. Board members issue construction permits, regulate waterways, and designate and oversee foreign trade zones. Fitzmaurice was first appointed to the board by Mayor Richard M. Daley in 2007.

Several proposed mixed-used residential, commercial and office buildings are listed on the Plan Commission agenda for today, including a 6-story commercial and residential apartment building that will have direct views of the new elevated Bloomingdale trail and a draft plan to turn a century-old brick building in Ravenswood into a loft office space and residential housing complex. We go through the individual large-scale applications below. The Commission is also scheduled to review and approve the $1 sale of 100 city-owned vacant lots in the Austin Community Area as part of the City’s Large Lots program.

Proposed Apartment-Office Space Complex in Ravenswood - 47th Ward
4801 N. Ravenswood Ave. | O2015-5333 | Introduced: 7/29/2015

Hayes Properties has a plan to transform a nearly one hundred year-old, four-story brick building in the Ravenswood Industrial Corridor into a mixed-use apartment and office building. The subject site is on the Northeast corner of Lawrence & Ravenswood Ave., adjacent to the METRA Union Pacific Railroad tracks. Plans include 36 residential units, a little over 90,000 sq. ft. of office space, and enough parking for 69 cars. Hayes acquired the building in 2014 after the property’s former tenants, Newark Corporation, an electronic company, relocated to the West Loop. The $6 million rehab is expected to create 20 construction and 260 permanent jobs. But in order to break ground on the site, Hayes needs Plan Commission approval to downzone the lot from a Manufacturing District (M1-2) to a Business and Commercial District (B2-2), since housing isn’t permitted in manufacturing zoned streets.

Bucktown’s WhirlyBall Seeks Rooftop Patio - 32nd Ward
1823 W. Webster Ave. | O2015-4633 | Introduced: 6/17/2015

Samuel Elias, the owner of three WhirlyBall amusement centers, applied for a downzone to permit a second story outdoor patio at the chain’s new 50,000 sq. ft. headquarters, located directly off the Kennedy Expressway in Bucktown. WhirlyBall is a sport that combines lacrosse, basketball and bumper cars. The indoor recreational facilities are popular for group events (alcohol is served on site). According to the application Elias filed under the name Jarla, LLC, they plan to serve alcohol on the patio and will apply for a special use permit once the downzone is approved. Plans also include the construction of an off-site parking lot for 120 cars.


Proposed 6-story Mixed-Use Building Next to New 606 Trail - 32nd Ward
1749 N. Milwaukee Ave. | O2015-5371 | Introduced: 7/29/2015

Centrum Partners is proposing to build a six-story, residential and commercial building that will overlook the new elevated Bloomingdale Trail. The joint venture between Centrum Partners and McLinden Holdings, LLC includes commercial retail and a refurbished Aldi’s Supermarket at the base, and 95 residential units split among the top four floors. The approximately 59,000 sq ft site will include a 60 car surface parking lot for shoppers and a 62 car basement garage for residents. The site is located between the Damen and Western CTA Blue Line stops, but the applicant, NRG Milwaukee, LLC, didn’t file the application as a Transit Oriented Development.


Structured Development Wants to Add more Retail near the Clybourn Corridor - 27th Ward
1450 N. Dayton St. | O2015-1357 | Introduced: 3/18/2015

Structured Development, the real estate firm behind the massive New City retail development project in the Clybourn Corridor, is part of a joint effort to build a four-story commercial retail and office building with an adjacent, multi-level parking structure for 550 cars near Goose Island. Structured and Big Deahl Productions Inc. filed a joint application under the name Big Deahl, LLC to establish a business planned development for the triangle shaped lot on 1450 N. Dayton Street. The area is currently zoned as a Commercial district (C3-5), so the proposed construction of 110,000 sq ft of office space is allowed, but the retail component, approximately 103,000 sq ft, is not, which is why the application needs approval from the Plan Commission.


Proposed Fulton Market Office Tower - 27th Ward
213-223 N. Peoria St. | O2014-8814 | Introduced: 11/5/2014
This is the oldest item on today’s agenda. New York-based Shorenstein Properties’filed a joint application with 219 Partners, LLC, a private partnership between Shapack Investments and M Squared Property, to rezone three neighboring properties in Fulton Market. The Business Planned Development would include the construction of a 10-story commercial office building, a new one-story retail building, and the rehab of an old meatpacking facility built in 1893. Shapack Partners acquired the 13,000 sq ft parking lot on 213-223 N. Peoria St. in 2013, and the vacant double wide parking lot on 217-219 N. Green Street in 2014. The Peoria Street lot will house the 10-story office building. Plans call for ground floor retail, parking for 59 cars on the 2-5 floors, and loft-style offices on the remaining top floors. As for the old six-story Amity Packing Co. building, developers plan keep the brick facade and add new windows and metal cladding. That building will be a mix of office and retail.

An already hectic day on City Hall’s 2nd floor in the days leading up to the release of the mayor’s budget made for a buzzing License Committee meeting Tuesday. Most of the people in the gallery were there to rally in support of Ald. Roberto Maldonado’s (26) ordinance to bring mobile food vendors “out of the shadows” by establishing a $350 license to sell prepared food like tamales, elotes, and hot dogs on City streets.

License Committee Chairman Emma Mitts praised the vote as historic, and vendors in the gallery applauded as she called the meeting to a close.

Members Present: Chairman Emma Mitts (37), Vice-Chair Debra Silverstein (50), Roderick Sawyer (6), Gregory Mitchell (7), Marty Quinn (13), David Moore (17), Willie Cochran (20), Roberto Maldonado (26), Chris Taliaferro (29), Ariel Reboyras (30), Scott Waguespack (32), Michele Smith (43), Tom Tunney (44), James Cappleman (46)
Non-members present: Joe Moreno (1), Walter Burnett Jr (27), Milly Santiago (31), Deb Mell (33), Gilbert Villegas (36), Brendan Reilly (42), Joe Moore (49)
Start Time: 11:04

Just before the meeting, those vendors and other advocates from the Asociación de Vendedores Ambulantes, the Illinois Policy Institute, and the Street Vendors Justice Coalition held signs that read “Free the Tamale” and “Chicago is Hungry for Food Carts.” They told reporters vendors are a rare group actually asking to be taxed and regulated, and free from harassment from police.

Ted Dabrowski of the Illinois Policy Institute estimates there are already 1,500 food carts operating in the city selling 50,000 meals a year, despite the threat of being slapped with a $50 or $1,000 fine or arrest for operating without a license. Between revenue from the $350 license fee vendors would pay, sales and income tax, and the penetration of food carts within the city going forward, Dabrowski says this change “could generate $2 to $8 million for the city.”

Maldonado first introduced this proposal in 2014, but he says interest waned at the time as aldermen geared up for re-election. It had to be introduced again into the new session.

Under the ordinance, vendors would have to prepare food off-site–that includes chopping up toppings or husking corn, and there are regulations for heating, cooling, cleaning, and how long a cart can stick around in one place. The ordinance doesn’t have an impact on food carts already operating legally in Chicago parks.

Although no aldermen expressed disagreement about the overall aim of the ordinance, and passed it without dissent, they spent most of the meeting peppering Redeatu Kassa from the City’s Law Department and Gerrin Cheek-Butler from the City’s Health Department with questions about the nitty gritty of enforcement and requirements.

“What is the enforcement mechanism here?” Ald. David Moore (17) asked. He says some people have been selling drugs out of food carts in his ward. Rebuking one vendor who testified she was harassed by cops for not having a license, Moore said cops were simply doing their job and enforcing existing code. Kassa said cops would be responsible for checking carts for licenses, and violators would face fines between $200 and $1000.

Carts and kitchens where food is prepared would have to be inspected by the Health Department, as do the so-called “commissary” where the food will have to be stored. Ald. Willie Cochran (20), a co-sponsor, said he was concerned about vendors who store their food carts in their home garages, and if the new regulations could “[make] this a little unwieldy.” Ald. Maldonado said as long as it’s clean enough to meet Health Department standards, there should be no problem storing carts in residential garages.  

“Aldermen can make some areas off limits for [food cart] operation for as long as they have rational basis to do that... for preserving public health or avoiding traffic congestion,” Kassa told Ald. Tom Tunney (44), who said the 6 to 8 foot sidewalks in Lakeview and Wrigleyville are already packed with pedestrians. Kassa says aldermen have to have a reasonable justification for limiting where carts can go.

Beth Kregor, Director of the Institute for Justice Clinic on Entrepreneurship, praised the effort and thanked the Health Department for their cooperation. She said the fight for broader allowances would continue. “Some dream of preparing good fresh food for customers on their carts, just like summer festival vendors that the Park District allows. Vendors make no little plans.”

After some playful testimony from council fixture George Blakemore, who called 42nd ward Loop Ald. Brendan Reilly “a golden apple,” the committee approved Reilly’s ordinance allowing vendors to sell wine in corked, unbroken and sealed 750mL bottles. Blakemore testified he worried buyers would drink the wine and leave bottles along the Riverwalk. Reilly said vendors can’t provide corkscrews, and have to remind customers it’s illegal to have an open container.

A coalition of community organizations and aldermen held a press conference at City Hall demanding a vote on an ordinance requiring more transparency and accountability from banks that hold the city’s money.

The Municipal Depository Ordinance Mayor Rahm Emanuel, Ald. Tom Tunney (44) and Ald. Roderick Sawyer (6) introduced in June forces banks that hold the city’s money to provide regular reports on minority and Chicago-area employment numbers and local lending practices.

Aldermen accused banks of pressuring to stall the ordinance in committee, and demanded that Finance Chairman Ed Burke (14) add it to Monday’s Finance agenda so it can advance to the full City Council next Thursday.

“We are here in solidarity to call for a hearing and vote,” Ald. Pat Dowell (3) said. “This ordinance, which is a product of struggle to overcome decades of redlining of many of Chicago’s communities, would shine a much-needed light on the institutions that hold the city’s money.”

The ordinance’s sponsors have since amended the text, adding additional transparency requirements. This substitute ordinance will be introduced as a replacement when the original ordinance is called in committee. The regular reports from the City’s banks would have to detail if the financial institutions are investing in local small businesses, providing loans for affordable housing, or promoting youth and entrepreneurial development, according to Ald. Dowell.

“At any given moment, Chicago’s Municipal Depositories hold $500 million to $1 billion for the City of Chicago. But investment by those banks continues to lag in underserved communities,” Ald. Carlos Ramirez-Rosa (35) said. “Banks doing business with the City must also invest in our neighborhoods.”

A few hours after the presser, City Treasurer Kurt Summers released a statement praising the aldermen for pushing a vote on the ordinance he helped draft. Getting the city’s municipal depositories to invest in the city is part of the 90-day-plan “Invest in Our Chicago” Summers unveiled when he first took office in 2014.

“Access to capital was the number one challenge I heard while visiting each of Chicago's 77 neighborhoods,” Summers was quoted saying in the release. “I am taking the concerns of the groups represented today very seriously and will continue to work closely with residents, the Mayor's office and members of City Council to come to a swift resolution in order to provide the transparency and investment our neighborhoods deserve."

Treasurer Summers wants to use the local lending information to create a so-called “Banking Scorecard” that would be available to the public, so they can see how frequently their local bank is investing back in their communities.