Office of the City Clerk - Record #: O2021-5876

• Record #: O2021-5876
• Type: Ordinance
• Status: Passed
• Intro date: 12/15/2021
• Current Controlling Legislative Body: Committee on Economic, Capital and Technology Development
• Final action: 1/26/2022
• Title: Support of Class C tax status renewal for property at 4535 W Armitage Ave
• Sponsors: Lightfoot, Lori E.
• Topic: TAX INCENTIVES - Class C

Date	Journal Page Number	Action By	Action	Result
1/26/2022	43233	City Council	Passed	Pass
1/19/2022		Committee on Economic, Capital and Technology Development	Recommended to Pass
12/15/2021	42077	City Council	Referred

OFFICE OF THE MAYOR
CITY OF CHICAGO
LORI E. LIGHTFOOT
MAYOR

December 15, 2021










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


Ladies and Gentlemen:

At the request of the Commissioner of Planning and Development, I transmit herewith an ordinance authorizing a Class C renewal tax status for property located at 4535 West Armitage Avenue.

Your favorable consideration of this ordinance will be appreciated.


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, the Cook County Board of Commissioners has enacted the Cook County Tax Incentive Ordinance, Classification System for Assessment, as amended from time to time (the "County 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, manufacturing, or commercial purposes; and

WHEREAS, the City, consistent with the County Ordinance, wishes to induce industry to locate, expand and remain in the City by supporting financial incentives in the form of property tax relief; and
WHEREAS, before May 4, 2011, 4545 West Armitage, Inc, an Illinois corporation, (the "Original Applicant") owned the property generally described as 4535 West Armitage Avenue, Chicago, Illinois 60639, and further described in Exhibit A hereto (the "Subject Property"); and
WHEREAS, on May 4, 2011, the City Council of the City adopted an ordinance supporting and consenting to the Class C classification of the Subject Property by the Office of the Assessor of Cook County (the "Assessor"); and

WHEREAS, the Assessor granted the Class C tax incentive in connection with the Subject Property effective January 1, 2011; and

WHEREAS, on ...