Office of the City Clerk - Record #: O2018-4997

• Record #: O2018-4997
• Type: Ordinance
• Status: Passed
• Intro date: 6/27/2018
• Current Controlling Legislative Body: Committee on Economic, Capital and Technology Development
• Final action: 7/25/2018
• Title: Support of Class 7(a) tax incentive for property at 6535 S Pulaski Rd
• Sponsors: Emanuel, Rahm
• Topic: TAX INCENTIVES - Class 7(a)

Date	Journal Page Number	Action By	Action	Result
8/1/2018		Office of the Mayor	Signed by Mayor
7/25/2018	82042	City Council	Passed	Pass
7/20/2018		Committee on Economic, Capital and Technology Development	Recommended to Pass
6/27/2018	79175	City Council	Referred

ORDINANCE


WHEREAS, the City of Chicago (the "City") is a home rule unit of government under Section 6(a), Article VII of the 1970 Constitution of the 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 "63rd/Pulaski 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 63rd/Pulaski Redevelopment Project Area is a depressed area; and

WHEREAS, certain real estate generally located at 6535-6557 South Pulaski Avenue 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 63rd/Pulaski Redevelopment Project Area; and
WHEREAS, 6535 S. Pulaski Rd., LLC, an Illinois limited liability company purchased the Project Site for value and is anticipated to enter into a lease with the Applicant, as hereinafter defined, for the entirety of the Project Site; and
WHEREAS, Luigis Paisans Pizza Pulaski, Inc., an Illinois corporation ("Applicant") proposes to construct a new building of approximately 7,253 square foot on the Project Site and develop it into commercial space including a restaurant (the "Project"); and
WHEREAS, the Project will increase employment opportunities, economic activity in the area and growth in the real property tax base; and

WHEREAS, the redevelopment objective of the City in connection with the Project Site is to redevelop underutilized properties, attract new businesses and retain and encourage the expansion of existing viable businesses, increase employment opportunities, increase economic activity in the area, and growth in the real property tax base; and
WHEREAS, the intended use by the Applicant of the Project Site is redevelop it into commercial space incl...