Office of the City Clerk - Record #: R2018-682

• Record #: R2018-682
• Type: Resolution
• Status: Adopted
• Intro date: 6/27/2018
• Current Controlling Legislative Body: Committee on Economic, Capital and Technology Development
• Final action: 7/25/2018
• Title: Support for renewal of Class 6(b) tax incentive for property at 217 N Western Ave
• Sponsors: Burnett, Jr., Walter
• Topic: TAX INCENTIVES - Class 6(b)

Date	Journal Page Number	Action By	Action	Result
8/1/2018		Office of the Mayor	Signed by Mayor
7/25/2018	82055	City Council	Adopted	Pass
7/20/2018		Committee on Economic, Capital and Technology Development	Recommended to Pass
6/27/2018	81297	City Council	Referred

RESOLUTION FOR RENEWAL OF CLASS 6(B) REAL ESTATE TAX INCENTIVE FOR THE BENEFIT OF VAN METER INC., AN IOWA CORPORATION, AND
REAL ESTATE LOCATED GENERALLY AT 217 N. WESTERN AVENUE IN CHICAGO, ILLINOIS PURSUANT TO COOK COUNTY, ILLINOIS TAX INCENTIVE ORDINANCE, CLASSIFICATION SYSTEM FOR ASSESSMENT

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 purposes; and

WHEREAS, the City of Chicago (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, Van Meter Inc., an Iowa corporation (the "Applicant"), is the owner of certain real estate located generally at 217 N. Western Avenue, Chicago, Illinois 60612 as further described on Exhibit A hereto (the "Subject Property") and intends to substantially rehabilitate an approximately 27,880 square foot industrial facility thereon; and

WHEREAS, on November 3, 1999 the City Council of the City enacted a resolution (the "Original 6(b) Classification Resolution") supporting and consenting to the Class 6(b) classification of certain property (the "Original 6(b) Classified Property") which also included the Subject Property by the Office of the Assessor of Cook County (the "Assessor"); and
WHEREAS, the Assessor classified the Original 6(b) Classified Property, including the Subject Property as a Class 6(b) classification in 2007; and
WHEREAS, the Original 6(b) Classified Property was sub-divided by the Assessor through a Division for tax year 2006 thereby creating the Subject Property parcel with the Property Tax Identification Number ...