Chicago Finance Committee Advances ~$425M TIF for The 78 Infrastructure

The Chicago City Council’s Finance Committee has advanced a tax-increment financing (TIF) package of about $424 million to $425 million for public infrastructure around “The 78,” the South Loop site where Chicago Fire FC is building a privately financed stadium.

Reporting on the July 13 committee meeting describes the infrastructure work as aimed at parking access, road and streetscape improvements, Metra track upgrades, river wall repairs, and pedestrian improvements. Critics questioned how much taxpayers are paying—especially for a city-owned parking garage—and whether the TIF is structured to pull too much subsidy from certain wards. The proposal still needs a full City Council vote next.

What the Finance Committee advanced

NBC Chicago reported the package includes $216 million for a parking garage, $100 million for road improvements, and $36 million for Metra upgrades, along with other items such as improved river wall work and pedestrian access around the stadium site.

WTTW added that the funds would connect the stadium to the city’s street grid, repair the river wall, and improve Metra tracks running through the site. WTTW also reported the plan calls for a 1,200-space underground parking garage that the Fire would lease on game days, with a public plaza on top and park space intended to be open to the public.

During the hearing, NBC Chicago reported a Planning and Development deputy commissioner said taxpayer money would not be used to operate the stadium or for “vertical developments.”

Why the city is using TIF for this infrastructure

In the city’s redevelopment agreement for The 78, the financing approach is tied to how TIF works in Chicago: incremental property-tax growth is directed into a segregated TIF fund and project account, and those revenues can be used to pay for or reimburse “TIF-Funded Infrastructure Components.” The agreement describes use of financing tools including City Notes and Special Service Area bonds (and/or incremental taxes), with spending subject to the agreement’s conditions and the infrastructure components identified in the official record.

Key criticisms raised during the hearing

Parking was the flashpoint for opponents. CBS Chicago reported Ald. Bill Conway (34th Ward) objected to asking taxpayers to pay $250 million for construction of a 1,200-space city-owned underground parking garage. CBS also reported Conway criticized city officials for pulling $287 million from a TIF district mostly located in his ward to help pay for the broader $425 million infrastructure package.

Both NBC and CBS also highlighted broader concerns that the TIF subsidy is not being used in a way that critics say benefits the public—rather than effectively subsidizing a private development.

Transit scope was another objection raised in coverage: WTTW reported plans for a new CTA Red Line station at 15th and Clark were dropped, drawing criticism from transit advocates who urged the committee to reject the subsidy.

Next step: full City Council vote

The Finance Committee action is not the final decision. WTTW reported the full City Council vote is set for Wednesday.

The city’s Finance Committee meeting notice also set a written-comment deadline: written public comment was accepted until 10:00 a.m. Friday, July 10, 2026 for items on the Finance Committee agenda.

For residents and commuters, the watch item is the final City Council package language—especially any changes tied to parking funding, the mix of infrastructure components, and the TIF sourcing/structure opponents are challenging.

Sources

• NBC Chicago — Committee approves ~$424M TIF/tax subsidies; details on infrastructure components and hearing criticisms
• WTTW News — Public-media context on the committee vote and what the money funds; mentions voting/process context and controversy
• CBS Chicago — Finance Committee backs ~$425M for infrastructure; objections including parking garage cost question
• City of Chicago — Finance Committee meeting notice/attachments (July 13, 2026)