The committee very much liked the wax seal effect as it reflects the past while the bold fonts represent the current times. A couple of ideas for you to kick around - I'm not an artist so don't know if these would be crazy stupid.
Instead of the JA initials in the center, maybe Austen's silhouette (google l'aimable jane for an image) or to bring in the Chicago element, put the downtown skyline in silhoutte in the center. Another idea still using the seal idea, is to set in an old time envelope (which just looks like a folded letter, not like our current envelopes). Maybe then the skyline could be in the background there with the Austen silhoutte in the center of the seal.
I like the fonts but we need to make the Greater Chicago Region words stronger - italic is still ok. Maybe you can shrink the words Jane Austen words a bit since the full title is Jane Austen Society of North America. The fact that you've got it her name in a color gives it prominence.
My committee just loves the seal idea & I personally like how this is developing further. However you didn't address the font issue I raised above - especially making the words Greater Chicago Region stronger & lessening JANE AUSTEN-unless you want to place Jane Austen Society on one line & of North America on the 2nd line.
New comments: Like the skyline in the background of the seal but Chicago has a pretty famous skyline, is it possible to get the Willis Tower on one side & our John Hancock Center on the other so people will recognize it as Chicago?