Committee on Economic, Capital and Technology Development

On the agenda are several appointments and reappointments and tax incentive requests. https://t.co/7yMpTGLmUH

A roll call has determined that 11 committee members are present as of 11:07 a.m. The committee meeting may proceed in accordance with the Open Meetings Act.

There is no one present for public comment.

Chairman Gilbert Villegas asks that Ald. Emma Mitts be added to the roll call.

Chairman Gilbert Villegas asks that Ald. Riley be added to the roll call.

The appointments and reappointments are confirmed by the panel.

Emmett Morrissey, financial planning analyst for the City of Chicago, gives a presentation on a proposed property tax incentive request. https://t.co/bB44kthlh9

Ald. Nicholas Sposato said he supports the request and the expansion that it would allow for.

Ald. Hopkins said he is in full support of the property tax incentive request.

Ald. Mitts said she wants to lend her support to Ald. Sposato for Eli’s Cheesecake Company request.

A short time later, the panel provided a due pass recommendation for the petitioner’s request.

The city council will have the final say on the property tax incentive request.

Next up the panel will give consideration to a Class 6B renewal property tax incentive request. https://t.co/Z7MiFKG7UV

Joel Friedland, principal of Brit Properties, spoke on behalf of the petitioners, Ella’s Bubbles and Element Bars.

He said Element Bars will invest $770,000 to expand operations.

Ald. Jason Ervin asks for favorable consideration as the area in question has seen challenges.

Ald. Tom Tunney asks if either business is displaced.

Friedland said it would be his desire to keep both businesses in the city and work with them.

The panel motioned for a due pass recommendation. The city council will have the final say on the tax incentive request.

Next up Morrissey gives an overview of a tax status request submitted by FR Restaurant, LLC.

Morrissey said the department of planning and development supports the petitioner’s request. https://t.co/yvAcMODG8K

Ald. Tom Tunney asked if the prior business had ever had a special property tax classification applied to the site.

Attorney Andrew Scott spoke on behalf of FR Restaurant LLC, saying the previous business owner did not.

Tunney asked about the equipment that he had and/or needed to acquire.

Robert Finkel of Forbidden Roots said he bought some assets from an online auction

The request is motioned for a due pass recommendation. The city council will have the final say on the tax status request.

Next up the panel is hearing a presentation regarding Meds, LLC and its Class 6(b) tax incentive for property at 2017 N Mendell St.

Tim Jeffries, deputy commissioner for the Chicago Department of Planning, said the department, along with the mayor, is opposed to the request.

Ald. Brian Hopkins said the location for this facility is “problematic”, making it very difficult to re-market for re-use. He said supports the request.

Ald. Roderick Sawyer said he supports the project and called it a “Herculean” effort to bring investment.

Ald. Raymond Lopez said he encourages the panel to vote yes to the petitioner’s request. He slammed the mayor’s effort to chime in on the matter.

“The aldermen know their neighborhood best,” Lopez said.

Michael Ezgur spoke on behalf of the petitioner Meds LLC, saying that future investment in this “challenged” property will amount to more than $5.4M. https://t.co/tTij7FuwPV

The tax incentive request is motioned for a due pass recommendation. The city council will have the final say on the request.

Nearly 30 people were viewing the meeting live stream.

The Chicago City Council Committee on Economic, Capital, and Technology Development meeting has adjourned. That’s all, for now. Visit http://documenters.org to read Karmeisha Boyd’s notes from the meeting. #CHIdocumenters