The city of Chicago has been awarded the 22nd Annual Deal of the Year by Bond Buyer, an honor that recognizes outstanding achievement in municipal finance. The deal became a finalist for the national award after winning the 2023 Midwest Deal of the Year.

Ice Miller is honored to have assisted the city and its Sales Tax Securitization Corporation as Bond Counsel on the award-winning $1.7 billion financing that addressed initiatives related to affordable housing, homelessness support services, environmental justice, and community development.

The city embarked on this financing plan after receiving 10 rating upgrades and three positive outlook revisions in recognition of its financial turnaround, including a return to investment-grade rating after nearly a decade.

Criteria for the award include creativity, the ability to pull a complex transaction together under challenging conditions, the ability to serve as a model for other financings, and the public purpose for which a deal's proceeds were used. Selections are made by Bond Buyer’s editorial board in 10 categories, once in each of Bond Buyer's five regional areas of coverage, along with five in additional categories.

Ice Miller’s Public Finance team was key in the transaction and was comprised of Jim Snyder, Phil Genetos, Matthew Miller, Jeff Hokanson, Mark Huddle, John Cannizzaro, Austin Root, Shelly Scinto, Kathy Thomas, and Veronica Hubartt.

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