The Chicago City Council’s finance committee is giving a thumbs up to several items on Mayor Rahm Emanuel’s proposed budget.
The committee approved a $53 million property tax increase, a 7-cent tax on plastic bags, surged parking rates around Wrigley Field and a $100 million community development fund.
Aldermen spent hours discussing the community development fund. Some are worried it lacks adequate oversight by the city. Still, the committee approved the revenue ordinance 18 to 3. It awaits approval by the full city council.