BOMA/Chicago Advances Major Reform to Fix the City’s Debt Check Process

Published by BOMA/Chicago on July 8, 2026

For years, BOMA/Chicago members have voiced the same frustration: the City’s Debt Check process is unpredictable, error-prone, and costly — delaying permits, slowing tenant improvements, and creating unnecessary administrative headaches. Members shared their experiences, and we’re pushing for real change.

BOMA/Chicago is partnering with the Small Business Advocacy Council (SBAC) and working closely with Alderwoman Pat Dowell on an ordinance that would modernize and streamline the City’s Debt Check system. While the Department of Finance has already implemented some improvements based on our feedback — including extending the clearance timeframe and establishing a $1,000 minimum threshold — significant challenges remain. Too many projects are still being delayed by outdated records, inconsistent standards, and unclear dispute procedures.

The newly introduced ordinance aims to fix that. As currently drafted, it includes several key reforms:

• Annual Debt Checks: Extends clearance certificates to one year, reducing repetitive paperwork and easing administrative burdens for both applicants and the City.
• Reasonable Lookback Period: Limits the debt review window to five years, focusing on reliable data and eliminating outdated or irrelevant records.
• Higher Minimum Threshold: Establishes a $5,000 minimum debt threshold before a permit, license, or contract can be delayed — ensuring small or disputed amounts don’t stall major projects.
• Documented Debt: Ensures the City provides clear documentation when notifying responsible parties about outstanding debt.
• Transparent Dispute Process: Creates a clear, expedited appeal pathway so errors can be corrected quickly and fairly.

Additional improvements — including limiting the debt check to the applicant rather than unrelated parties — are also under discussion.

This is the beginning of the legislative process, and we anticipate negotiations and refinements. BOMA/Chicago will continue to expand our coalition, engage City leaders, and push for a debt check system that is accurate, predictable, and supportive of economic growth. Read our one-page fact sheet and FAQ here.