Illinois Finance Authority

The meeting agenda included the call to order, approval of the agenda, and consideration of public comments. Key new business items involved bond resolutions and administrative resolutions. Public Finance resolutions included authorizing revenue bonds for Gotion Illinois New Energy Inc. (not to exceed $200,000,000), revenue bonds for Presbyterian Homes, d/b/a Presbyterian Living, Westminster Place and Lake Forest Place, LLC (not to exceed $70,000,000) to refund prior bonds, and financing for Intrinsic Schools (not to exceed $21,000,000). Administrative resolutions covered the appointment of a Treasurer and the adoption of policies related to meeting attendance by non-physical means. The members also received updates on the Climate Bank Plan Standing Report and the Procurement Report. The Executive Director also provided a message regarding his upcoming transition to Auditor General.

The agenda for the regular meeting of the Members of the Illinois Finance Authority includes calling to order, approval of the agenda, review of previous minutes, public comments, remarks from the Chair, a message from the Executive Director, presentation and consideration of new business items, financial reports, Climate Bank Plan standing report, procurement report, closed session, and adjournment. New business items involve public finance resolutions totaling $291,000,000 across three applicants: Gotion Illinois New Energy Inc. ($200,000,000), Presbyterian Homes ($70,000,000), and Intrinsic Schools ($21,000,000). General and Administrative items include a resolution for the appointment of a Treasurer and a resolution authorizing the adoption of policies related to meeting attendance by non-physical means.

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.