OFFICE OF THE MAYOR
CITY OF CHICAGO
LORI E. LIGHTFOOT MAYOR
June 17,2020
TO THE HONORABLE, THE CITY COUNCIL. OF THE CITY OF CHICAGO
Ladies and Gentlemen:
At the request of the Commissioner of Planning and Development, I transmit herewith an ordinance authorizing a recertification of Class 8 tax status for property located at 4000 West Diversey Avenue.
Your favorable consideration ofthis ordinance will be appreciated.
Very truly yours.
APPROVAL OF CLASS 8 PROPERTY TAX INCENTIVE PURSUANT TO COOK COUNTY REAL PROPERTY CLASSIFICATION ORDINANCE
WHEREAS, the Cook County Board of Commissioners has enacted the Cook County Real Property Classification Ordinance as amended (the "Classification Ordinance") for the purpose, among others, of encouraging and assisting new development in areas that are depressed, blighted or threatened with blight, which it has determined will result in increasing the tax base in such area and for the entire County of Cook; and
WHEREAS, one of the real property assessment , classifications created under the Classification Ordinance is a Class 8 classification (the "Class 8 Classification"); and
WHEREAS, the purpose of a Class 8 classification is to encourage industrial and commercial development in severely blighted areas of Cook County; and
WHEREAS, the City of Chicago (the "City") is a home rule unit authorized by the Illinois Constitution of 1970 to exercise any power and perform any function pertaining to its government and affairs, including without limitation, designations of areas within its jurisdiction as severely blighted; and
WHEREAS, municipalities, such as the City may apply to the Office of the Cook County Assessor (the "Assessor") to certify areas within its jurisdiction as "in need of substantial revitalization" (as defined in Section 74-65 (i) of the Classification Ordinance) and eligible for Class 8 Classification; and
WHEREAS, an ordinance was enacted by the City Council of the City (the "City Council") on Janu...
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