RESOLUTION CLASS 6(B) REAL ESTATE TAX INCENTIVE FOR THE BENEFIT OF | BERKSHIRE REFRIGERATED WAREHOUSING, LLC, AN ILLINOIS LIMITED LIABILITY
COMPANY, AND REAL ESTATE LOCATED GENERALLY AT 4550 SOUTH PACKERS AVENUE IN CHICAGO, ILLINOIS PURSUANT TO COOK COUNTY, ILLINOIS REAL PROPERTY ASSESSMENT CLASSIFICATION ORDINANCE
WHEREAS, the Cook County Board of Commissioners has enacted the Cook County Real Property Assessment Classification Ordinance, as amended|from time to time (the "Ordinance"), which provides for, among other things, real estate tax incentives to property owners who build, rehabilitate, enhance and occupy property which is located within Cook County and which is used primarily for industrial purposes; and
WHEREAS, the City of Chicago (the "City"), consistent with the Ordinance, wishes to induce industry to locate and expand in the City by supporting financial incentives in the form of property tax relief; and
WHEREAS, Berkshire Refrigerated Warehousing, LLC, an Illinois limited liability company (the "Applicant'), is sole lessee of certain real estate located generally at 4550 South Packers Avenue, Chicago, Illinois 60609, as further described on Exhibit A hereto (the "Subject Property"); and
WHEREAS, the Subject Property is owned by Standard Bank and Trust Company as Trustee under Trust dated November 4, 2002 and known as trust number 17496 by quitclaim deed (the "Owner"), the sole beneficiary of Owner is Paul R. Napleton, who also has a 99%
interest in the Applicant, and the Subject Property is leased by the pursuant to a lease agreement dated November 21, 2002; and
Owner to the Applicant
WHEREAS, the Applicant currently operates a 132,000 square foot industrial facility (the "Facility") also located at 4550 South Packers Avenue, Chicago, Illinois 60609; and
WHEREAS, the Applicant intends to construct an approxi Jately 32,362 square foot addition to the Facility located on the Subject Property; and
WHEREAS, the Applicant has filed with the Office of the A...
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