On Wednesday morning City Hall approved as much as $2 billion in tax increment financing (TIF) to support the both massive Lincoln Yards and The 78 megadevelopments.

The Finance Committee and City Council votes occurred less than 48 hours after departing Mayor Rahm Emanuel agreed to honor incoming Mayor-elect Lori Lightfoot’s request for a delay at Monday’s meeting.

Lightfoot made repeated calls to slow down the approval process and push the votes until after she and the new City Council take office on May 20. However, she expressed appreciation for her colleagues’ decision to defer in a statement issued late Tuesday night, reported Politico.

The delay allowed Lightfoot time to engage the developers of Lincoln Yards and The 78 to negotiate a larger commitment to employ minority- and women-owned construction firms—upping total participation from $80 million to $400 million, she said. Lightfoot will continue to keep a close eye on both riverfront megaprojects in the future.

“There remains much more work to do in this regard, and I am hopeful we’ll be able to get there. Under the terms of both redevelopment agreements, we have confirmed that the City has additional controls over these projects, which I am confident will allow for us to further improve these deals and to bring community voices into the process going forward,” said Lightfoot in her statement.

The TIF measures would essentially freeze real estate taxes for both vacant sites at their current levels and reimburse the developers for fronting the costs of infrastructure improvements with the incremental tax revenue generated by the completed projects over the next two decades.

Developer Sterling Bay’s Lincoln Yards plan calls for as much as for $1.3 billion in TIF spending to cover the cost of new bridges over the Chicago River, an extension of the 606 trail, and a realignment of the Elston-Armitage-Ashland intersection. Related Midwest’s The 78 is seeking $700 million to relocate Metra rail tracks, build new roads, and construct a new CTA Red Line subway station.

When complete, the 14.5 million-square-foot Lincoln Yards development would bring 23,000 full time jobs, 6,000 residential units, and 21 acres of parkspace to 55 acres of formerly industrial riverfront land between Lincoln Park and Bucktown. On the river’s south branch, The 78 calls for 13 million square feet of buildings supporting 10,000 residential units, 24,000 on-site jobs, and a university-affiliated innovation center across 62 acres of vacant land.