Illinois Insights: An Update from Cozen O’Connor (4/5)

ILLINOIS

| AROUND THE STATE

Bears put lakefront stadium cards on the table with state agency key to funding deal

“Frank Bilecki, executive director of the Illinois Sports Facilities Authority, said the Bears are eyeing the same portion of the hotel tax the White Sox hope to use to fund a new stadium in the South Loop,” by the Chicago Sun-Times.

Bill ending state’s tipped wage advances but prospects uncertain amid pushback

“An Illinois House committee advanced a measure that would end the state’s subminimum wage for tipped workers amid bipartisan opposition this week, but the bill’s sponsor said she’d seek further compromise before presenting it for a vote,” by Capitol News Illinois.

House criminal justice committee advances bills to prevent wrongful convictions, solve cold cases, add a new crime to Illinois law

“The House Judiciary – Criminal Committee spent more than two hours on Thursday, the final day of a committee deadline week for the chamber, advancing bills that lawmakers hope will help solve some cold cases as well as bills to reduce wrongful convictions and create a new crime in Illinois,” by The Daily Line.

CHICAGO

Johnson seeks TIF funds for 4 projects proposed under LaSalle Reimagined program

Mayor Brandon Johnson announced Wednesday that four vacant commercial office spaces will be formally proposed to the City Council for development assistance to become housing as part of the LaSalle Street Reimagined initiative and the City’s ongoing commitment to mixed-use, mixed-income vitality downtown.

The projects, including three shortlisted by former Mayor Lori Lightfoot, would collectively use $151.2 million in tax-increment financing (TIF) funds to repurpose office buildings along LaSalle Street, creating more than 1,000 new apartments, with at least 319 expected to have affordable rents.

The office-to-residential conversions at 111 W. Monroe St., 208 S. LaSalle St., 30 N. LaSalle St. and 79 W. Monroe St. is collectively valued at more than $528 million in development costs.

Pending formal review and approval procedures, project construction could start in early 2025.

| MORE FROM CITY HALL

Battle over effort to ban natural gas in new Chicago buildings continues in council hearing

“The legislation backed by Mayor Brandon Johnson has gotten support from a wide range of groups, including climate change activists, consumer advocates and others affiliated with the Illinois Clean Jobs Coalition. Proponents argue the shift away from gas heating and appliances would improve health and allow for much-needed progress in the fight against climate change,” by the Chicago Tribune.

Johnson stands by Bally’s despite financial speed bumps

“Mayor Brandon Johnson is standing by casino operator Bally’s despite a series of recent financial bumps that could affect the viability of the company’s planned Chicago gambling and entertainment complex,” by Crain’s Chicago Business.

Mayor Johnson Announces New Appointments to City Colleges of Chicago Board of Trustees

“Mayor Brandon Johnson has announced four new appointees to the City Colleges of Chicago Board of Trustees. The appointments are Rev. Dr. Marshall Elijah Hatch, Sr., Darlene Hightower, Oscar Sanchez, and Katya Nuques, who will be named the new Board chair,” from the Office of Mayor Brandon Johnson.

Johnson to Biden: Long-term undocumented immigrants deserve work permits, too

“On the first anniversary of his election as mayor, Johnson touted a letter he signed with leaders from other cities urging Biden to push harder for more work permits for immigrants,” by the Chicago Sun-Times.

If you have any questions regarding this update or if you’re interested in ways to engage on these issues, please contact one of our team members here.

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