RESOLUTION
WHEREAS, the Carole L. Brown, has stepped down as Chief Financial Officer of the City of Chicago in May 2019, after four years of dedicated service; and
WHEREAS, the Chicago City Council has been informed of her retirement by Alderman Edward M. Burke; and
WHEREAS, a native of Baltimore, Maryland, Carole L. Brown graduated from Harvard University with an A.B. in Government and in 1986 earned a Master's Degree in Management from the Kellogg School of Management at Northwestern University; and
WHEREAS, the Carole L. Brown joined Siebert Brandford Shank & Co., LLC and later Mesirow Financial; and
WHEREAS, Carole L. Brown was named Managing Director of the Midwest at Barclay's Capitol, serving as senior investment banker for municipal clients in the Midwest region with responsibility for the firm's client relationships in Atlanta, Washington, D.C., and Los Angeles; and
WHEREAS, Carole L. Brown served as a Trustee to the Policemen's Annuity & Benefit Fund of Chicago and was Chairman of the Chicago Transit Authority from 2003-2009; and
WHEREAS, During her CTA tenure, Carole L. Brown used her financial expertise to help the CTA address structural deficits through efficiencies and reforms, financing billions of dollars in deferred maintenance, rail improvements, and capital construction and helped oversee development of the Pink Line and the first Blue Line reconstruction project; and
WHEREAS, a member of Mayor Rahm Emanuel's first term Transition Team, the headed the city's tax-increment financing (TIF) advisory panel and served as chairman of the TIF Reform Panel; and
WHEREAS, as chairman of the TIF Reform Panel, Carole L. Brown helped develop a comprehensive TIF policy, and recommended metrics to track the performance of TIF districts and projects, and improved the transparency of the City's use of TIF; and
WHEREAS, on May 15, 2015, Mayor Rahm Emanuel appointed Carole L. Brown Chief Financial Officer for the City of Chicago succeeding Lois Scott; and
WHEREAS, C...
Click here for full text