RESOLUTION FOR RENEWAL OF CLASS 6(B) REAL ESTATE TAX INCENTIVE FOR THE BENEFIT OF EAZYPOWER CORPORATION, AN ILLINOIS CORPORATION, AND REAL ESTATE LOCATED AT 2311-2321 NORTH KEYSTONE 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, expand and remain in the City by supporting financial incentives in the form of property tax relief; and
WHEREAS, Eazypower Corporation, an Illinois corporation (the "Applicant"), is the owner of certain real estate located generally at 2311-2321 North Keystone Avenue, Chicago, Illinois 60639 as further described on Exhibit A hereto (the "Subject Property") and has undertaken a program of re-occupancy and renovation of an existing approximately 67,000 square foot vacant warehouse thereon; and
WHEREAS, on January 20, 1999 the City Council of the City enacted a resolution that, in part, supported and consented to the Class 6(b) classification of the Subject Property by the Office of the Assessor of Cook County (the "Assessor"); and
WHEREAS, the Assessor granted the Class 6(b) tax incentive in connection with the Subject Property in 1999; and
WHEREAS, the Applicant has filed an application for renewal of the Class 6(b) classification with respect to the Subject Property with the Assessor pursuant to the Ordinance; and
WHEREAS, it is the responsibility of the Assessor to determine that an application for a Class 6(b) classification or renewal of a Class 6(b) classification ...
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