City Treasurer Stephanie Neely, who will exit her current role at the end of next month, said a heartfelt goodbye to members of the City Council Budget Committee on Tuesday during her final budget hearing.
Neely announced her resignation on Monday. Mayor Rahm Emanuel is expected to appoint Chicago-based Grosvenor Capital Management Senior Vice President Kurt Summers as Neely’s successor.
“Over the years, I have worked with many of you in your wards to meet our shared goals, and my door is always open to reach more parts of the city,” Neely said through tears on Tuesday. “It has been beyond a privilege to serve the citizens of Chicago, my home, the city that I love.”
During her budget report, Neely touted her office’s efforts to promote the development of small Chicago businesses.
Earlier this month, the Treasurer’s Office hosted its 13th annual Small Business Entrepreneurs Expo. The event provided local small business owners workshops and networking opportunities, and the expo featured an elevator pitch contest.
In 2007, Neely launched the Small Business Development Loan Fund Program, which was designed to provide “micro-loans” to small business owners who could not secure funding through traditional banking institutions. Neely’s office has distributed $3 million in funding through the program, according to Lilia Chacon, spokeswoman for the Treasurer’s Office.
“I think you and your staff – it’s a small but hardy staff – have done tremendous things to transform this office,” Alderman Brendan Reilly (42nd), vice chairman of the committee, said on Tuesday. “You could have focused purely on managing our portfolio, but I think you saw some opportunity to do additional good, especially through your work in supporting small businesses throughout Chicago.”
After Neely announced her resignation on Monday, Emanuel said in a press release, "Stephanie Neely brought a wealth of experience and a deep commitment to her position as city treasurer. … We thank Treasurer Neely for her dedication not only her job, but to the people of Chicago."
-Tom Butala