This record contains private information, which has been redacted from public viewing.
Record #: O2020-5751   
Type: Ordinance Status: Passed
Intro date: 11/16/2020 Current Controlling Legislative Body: Committee on Economic, Capital and Technology Development
Final action: 1/27/2021
Title: Support of Cook County Class 7(a) tax status for property at 6541 S Cicero Ave in favor of Path 13, Inc, to execute ground lease for construction of Culvers restaurant
Sponsors: Lightfoot, Lori E.
Topic: TAX INCENTIVES - Class 7(a)
Attachments: 1. O2020-5751.pdf
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OFFICE OF THE MAYOR
CITY OF CHICAGO
LORI E. LIGHTFOOT
MAYOR


November 16, 2020










TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO


Ladies and Gentlemen:

At the request ofthe Commissioner of Planning and Development, I transmit herewith an ordinance authorizing a Class 7(a) tax status for property located at 6541 South Cicero.

Your favorable consideration of this ordinance will be appreciated.


Very truly yours,

ORDINANCE


WHEREAS, the City of Chicago (the "City") is a home rule unit of government under Section 6(a), Article VII ofthe 1970 Constitution ofthe State of Illinois authorized to exercise any power and perform any function pertaining to its government and affairs; and

WHEREAS, pursuant to an ordinance adopted by the City Council of the City ("City Council"), the City established the "Archer/Central Redevelopment Project Area" in accordance with the Illinois Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et. seq., finding, among other things, that Archer/Central Redevelopment Project Area is a depressed area; and

WHEREAS, certain real estate generally located at 6541 South Cicero Ave. in the City, as more precisely described on Exhibit A attached hereto and hereby made a part hereof (the "Project Site"), is located within the boundaries of the Archer/Central Redevelopment Project Area; and

WHEREAS, Path 13, Inc., an Illinois corporation owns the Project Site for value and is anticipated to enter into a ground lease (the "Ground Lease") with Hollis of Palos, LLC—Midway, a series of an Illinois series limited liability company ("Tenant") and the Tenant is anticipated, pursuant to the terms of the Ground Lease, to assign its interest as tenant to GKA Group, LLC d/b/a Culvers (the "Applicant"); and

WHEREAS, the Applicant proposes to construct a new building of approximately 3,950 square foot on the Project Site.and develop it into commercial space to be used as a restaurant serving fast casual fare (the "Proje...

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