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Board ratifies IGA with City tied to TIF surplus, authorizes contingent payment for municipal annuity fund
Summary
The Chicago Board of Education approved an intergovernmental agreement (EX2) with the City of Chicago to authorize up to $175 million for the Municipal Employees Annuity and Benefit Fund, contingent on the district receiving a 2025 TIF surplus exceeding $379 million; the vote was unanimous.
The Chicago Board of Education unanimously ratified an intergovernmental agreement with the City of Chicago on Oct. 30, 2025, authorizing a contingent payment not to exceed $175 million to the Municipal Employees Annuity and Benefit Fund.
Board materials and staff explained the payment is contingent on…
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