Illinois Finance Authority

The regular meeting focused heavily on the recently signed Clean and Reliable Grid Affordability Act (CRGA), noting the potential establishment of a revolving loan fund for geothermal projects and the Authority's role in implementation. Key financial discussions included reviewing the Fiscal Year 2025 Financial Audit, which received an unmodified opinion with no findings, and accepting the preliminary, unaudited Financial Reports for the six-month period ended December 31, 2025. New Business considered under the consent agenda involved public finance resolutions, specifically a Bond Resolution for Intrinsic Schools' refunding bonds and amendments to bonds for DePaul College Prep Foundation. Administrative matters included the appointment of Erin O'Leary as Secretary and recognizing the departure of the Deputy General Counsel. The Climate Bank Plan Standing Report highlighted current geothermal grant application cycles.

The Regular Meeting of the Members addressed several key items, including the consideration and approval of financial reports and a standing report on the Climate Bank Plan. The agenda included a Procurement Report and various New Business Items. Major actions involved approving resolutions related to the issuance of Revenue Bonds for Springfield Sustainable Energy Partners LLC (not to exceed $125,000,000) and adopting Inducement Resolutions for Gotion Illinois New Energy Inc. (estimated not to exceed $200,000,000) and Heritage Woods Northwest LLC (estimated not to exceed $50,000,000). Additionally, resolutions were passed regarding the appointment of the Secretary of the Authority, directing officers to execute documents during the Executive Director's absence, and accepting the Fiscal Year 2025 Financial Audit. The meeting also welcomed a new Authority Member, Tiffany Mathis Posey, and discussed the launch of the City of Aurora into the Illinois Finance Authority PACE Program.

The regular meeting of the Members of the Authority is scheduled to occur at two physical locations and simultaneously via Audio or Video Conference. The agenda includes routine items such as the Approval of Agenda, Public Comments, Remarks from the Chair, and Message from the Executive Director. Key substantive items involve the Presentation and Consideration of New Business Items, including public finance projects for Springfield Sustainable Energy Partners LLC, Gotion Illinois New Energy Inc., and Heritage Woods Northwest LLC, totaling preliminary amounts of $375,000,000. Other considerations include Financial Reports, the Climate Bank Plan Standing Report, and a Procurement Report, concluding with a Closed Session.

The Authority will hold a regularly scheduled meeting accessible both in person at the Michael A. Bilandic Building in Chicago and the Leland Building in Springfield, as well as via Audio and Video Conference. The agenda includes approval of the agenda, public comments, remarks from the Chair and Executive Director, presentation and consideration of new business items (including bond resolutions and an appointment of a Secretary), financial reports review, the Climate Bank Plan Standing Report, and the Procurement Report, concluding with a Closed Session and adjournment.

The meeting agenda included routine items such as approval of the agenda, public comments, remarks from the Chair, and the Message from the Executive Director. Key business involved the presentation and consideration of financial reports (which were delayed to the January meeting), a standing report on the Climate Bank Plan, and a Procurement Report detailing recent operational contracts, including one for Loan Portal Software. New Business Items approved included a Bond Resolution for Intrinsic Schools for refunding Series 2015A bonds and a Resolution authorizing amendments to certain bonds previously issued for DePaul College Prep Foundation. A resolution was also passed for the appointment of Erin O'Leary as Secretary of the Authority, replacing Matthew Stonecipher. Finally, the Members accepted the Fiscal Year 2025 Financial Audit from the Auditor General, noting no findings were received.