An ordinance that would create an official mechanism to annually provide surplus Tax Increment Financing (TIF) revenue to Chicago Public Schools is on the Finance Committee agenda today. Although, according to Finance Chair Ed Burke (14), there will be only a subject matter hearing, no vote. It’s one of two controversial plans that will finally get their day in the chambers. The committee also is scheduled to take up a year-old ordinance from City Treasurer Kurt Summers that would require banks that hold the city’s money provide annual reports on their neighborhood lending and investment practices. There’s also approximately $2.7 million in legal settlements and up to $3.5 billion in new bonds for O’Hare Airport slated for committee approval.

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