There are four Mayoral appointees to the Community Development Commission (CDC) slated for aldermanic confirmation this afternoon, including 1st Ward Ald. Joe Moreno’s wife, Celena Roldan Moreno.
Roldan Moreno currently serves as the Executive Director for Erie Neighborhood House, a social services agency. She also served as a member of Mayor Emanuel’s Education Transition Team and Early Childhood Task Force, two initiatives the mayor rolled out during his first term in office.
If approved to the CDC, Moreno will serve with 14 other members, whose job is to review and recommend the creation of new Tax Increment Financing (TIF) districts, Redevelopment Area designations, and appointments to the various Community Conservation Councils across the city. The CDC also reviews and recommends action on the sale of city-owned property in TIF districts and Redevelopment Areas, as well as allocating TIF funds for private redevelopment projects.
In addition to Moreno, Mayor Emanuel has nominated:
- Gwendolyn Butler, vice chairwoman and chief marketing officer for Capri Investment Group, LLC, a global real estate investment manager. She specializes in raising capital for the firm’s global investments. Prior to Capri, Butler worked for UBS Global Asset Management, Bear Stearns, and SEI. She is the former Chair of the national Association of Securities Professionals and a past President of the Board of Directors of the YWCA Metropolitan Chicago. [LinkedIn]
- Cornelius Griggs, Managing Partner, GMA of Illinois.
- Philip Alphonse, a partner in the The Vistria Group, a private equity firm focused on education, healthcare, and financial services. The Vistria Group was founded by Marty Nesbitt, who also founded the airport parking company The Parking Spot with U.S. Commerce Secretary Penny Pritzker. Alphonse also worked at private equity firm Sterling Partners for ten years. [LinkedIn]
In addition to the Mayoral appointees, four aldermanic requests for a tax break on large, industrial properties in the 23rd, 27th, and 36th Wards will be discussed. The class 6(b) real estate tax incentive is intended to reduce vacant industrial real estate in Cook County by providing businesses with a lower tax rate if they commit to rehabbing vacant industrial buildings or constructing new industrial property. Properties receiving the designation are assessed at 10% of market value for the first 10 years, 15% in the 11th year and 20% the 12th year. Industrial buildings that don’t receive the designation are assessed at 25% of market value.