Members of the finance committee will meet Wednesday. [Erin Hegarty/The Daily Line] 

Members of the City Council Committee on Finance will meet at 10 a.m. Wednesday to consider approving four settlements totaling more than $9 million and proposals for tax-increment finance funding for developments across the city. 

Wednesday will mark the first time the finance committee is meeting under the new leadership of chair Ald. Pat Dowell (3). Ald. Bill Conway (34) is the vice chair of the committee. 

Members of the finance committee will consider four payments to settle lawsuits brought against the city totaling $9.2 million.  

The largest settlement would be $7.25 million in the case of Arthur Brown v. City of Chicago. Brown spent nearly 30 years in prison for a 1988 arson fire he did not commit that killed two people, according to reporting from the Sun-Times.  

Brown confessed to starting the fire after detectives beat him, the Sun-Times reported. Brown was able to leave prison in 2017 after a judge overturned his conviction of double murder. 

Members of the finance committee will also consider a $1 million payment to settle a lawsuit brought against the city and Chicago Police Officers Robert Rhodes and Joseph Lisciandrello by the estate of Sharell Brown, who is deceased. 

Brown, who was 26, was fatally shot by Chicago Police Officers after they stopped him and a confrontation occurred in North Lawndale in 2019, according to reporting from WTTW. The officer who shot and killed Brown turned off his body-worn camera after a foot chase, WTTW reported.  

The finance committee was originally scheduled to consider the settlement in January, but the vote was delayed. 

Additionally on Wednesday, alderpersons will consider a $550,000 payment to settle the lawsuit brought against the city by Joshua Habasek-Bonelli, who according to WTTW was tased by a Chicago Police officer when he was unarmed outside his home in 2021. The police officer was charged with official misconduct and felony battery and his police powers were removed, according to WTTW. 

The committee will consider a $400,000 payment to settle the lawsuit brought against the city by Lana Triplett. 

Members of the finance committee on Wednesday will also consider the following proposals: 

O2023-1645 — An ordinance that would allow restructuring on an existing loan with Renaissance Partners Limited Partnership, additional tax-increment funding (TIF) and a redevelopment agreement to rehabilitate an existing single-room occupancy building with services for homeless adults at 3757-63 S. Wabash Ave. in the Bronzeville Redevelopment Project Area in the 3rd Ward. The building includes 100 housing units and one manager’s unit. The ordinance also proposes up to more than $5.3 million in TIF dollars and a $600,000 multi-family grant, according to city documents. The TIF funding will require the developer to adhere to a redevelopment agreement under which they must comply with an affordable housing covenant requiring all units to have monthly rents that are affordable to households that earn up to 60 percent of the area median income and retain jobs and trainee positions. 

O2023-1620 — A proposal for the city to issue $29 million in multi-family revenue bonds for Thrive Exchange LIHTC South’s redevelopment of the property at 79th Street and Exchange Avenue in the 7th Ward as a low-income housing development. The proposed six-story building would include 43 affordable units and 2,760 square feet of commercial space. The developer would also have the option to build a federally-qualified health center with the city’s consent.  

O2023-2102 — A proposal for the issuance of $21 million in multi-family housing revenue bonds for New City Redevelopment Limited Partnership to fund a two-stage development at 1515 W. 47th St. and 1635-1641 W. 47th St. in the 20th Ward. New City Redevelopment plans to build low-income housing and a technology and business support hub. The development would include 45 units of housing intended for families and the technology and business hub would target youth in communities of color, according to city documents. The development’s second phase would include two three-flat housing buildings with six two-bedroom units. 

O2023-2037 — An ordinance that would amend a previously approved ordinance regarding the long-term ground lease and construction of Imani Senior Village at 9633 S. Cottage Grove Ave. in the 8th Ward modifying the amount of Low-Income Housing Tax Credit for the development. 

O2023-1640 — An ordinance that would authorize the sale parcels at 4553, 4555, 4559 and 4569 N. Pulaski Rd., located in the Lawrence/Pulaski Redevelopment Project Area in the 33rd Ward to Neighborspace for $1. Neighborspace plans to turn the property into a community garden to be called First Nations Garden. After construction is complete, Neighborspace would lease the property to the Chicago Park District. The proposal would also give Neighborspace up to $93,990 in Open Space Impact Fee funds and up to $350,000 in TIF dollars. 

O2023-1603 — A proposal to amend an intergovernmental TIF agreement with the Chicago Park District originally approved by the City Council in May 2020. The change would increase TIF funding for the renovations of the fieldhouse at Blackhawk Park from $3 million to more than $5.7 million. The park is at 2318 N. Lavergne Ave. in the 31st Ward. 

O2023-1590 — An ordinance authorizing the use of nearly $3 million in TIF funds under the Chicago Recovery Plan for Steep Theatre Company to redevelop the Christian Science Reading Room at 5300-5318 N. Kenmore Ave. in the 48th Ward. Steep Theatre is planning to develop the property as a 70-seat black box theater with a lobby lounge and outdoor patio. The company plans to add an 1,800-square-foot single-story expansion for dressing rooms and artist support space.  

O2023-1639 — A proposed redevelopment agreement with 221 E. 49th Street LLC to redevelop the former Overton Elementary School at 221 E. 49th St. in the 3rd Ward as the Overton Center of Excellence set to include affordable and flexible office space for entrepreneurs and non-profit organizations, a kitchen facility and a multi-purpose facility for the community. The ordinance proposes granting the development $5 million in TIF funding. 

O2023-1647 — A proposed redevelopment agreement with Hudson Michigan Avenue Owner LLC to redevelop 2222 S. Michigan Ave. in the 3rd Ward as a mixed-use development. The agreement would give the developer up to $10 million in TIF funding, including a $5 million loan and a $5 million grant. The developer plans to bring 38 apartments, a boutique hotel and commercial and retail space expected to house a speakeasy, restaurant and event space to the property.