The Finance Committee's 11-7 vote represented a close tally and followed hours of questions by aldermen and some criticism from public advocacy groups.
Emanuel wants the council to authorize the
At Monday's hearing, some aldermen wondered why there's such a rush by Emanuel to push through the trust ordinance only a month after the mayor's office introduced it.
"Until I have answers to all my questions, I'm not prepared to support this ordinance," Reilly said. "It could be an excellent program, I don't have enough information to make a solid decision."
Among Reilly's concerns are clear protections against conflict of interest of board members, the potential risk and liability of the deals, and that the council has no jurisdiction over projects that are undertaken by the city's sister agencies.
"There's a gaping hole in the policing of this," Arena said. "They want to move it forward, but there aren't projects we have to do tomorrow."
Ald. Patrick O'Connor, the mayor's floor leader, said he believes the administration has the votes to pass the ordinance on Wednesday.
"I do think some of the changes have helped a few of the members to come around to it," said O'Connor, 40th.