The fundamental shift towards neoliberalization of the economy and government at federal and state levels has changed how Mayors and Councils "govern" cities if they really govern them, in the classical civics-class sense, at all. Of course Emanuel, as one of the political architects of one of neoliberalization's most important structural supports, NAFTA, is not a victim of neoliberalization but an important figure in its rise. That fact is one of the reasons national elites rushed to fund his campaigns for Congress and the Fifth Floor.
In the Neoliberal City, laws, regulations, and rules are less important than relationships between political leaders and wealth, or capital. Mayor Emanuel explicitly ran for office touting his ability to "leverage" his relationships with wealthy elites. He even comically justified his immense fundraising from out-of-state and global financial elites by pointing out that because the rich like him, he'll be able to beg goodies out of them for the public.Which I guess is how it usually works.