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

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

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

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

@CHIdocumenters @city_bureau Meeting has begun. Quorum established.

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

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

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

@CHIdocumenters @city_bureau Roll call vote: Recommendation passes.

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

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

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

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

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

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

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