RESOLUTION FOR RENEWAL OF CLASS 6(B) REAL ESTATE TAX INCENTIVE FOR THE BENEFIT OF VICTORIA LIMITED, LLC, AN ILLINOIS LIMITED LIABILITY COMPANY, AND REAL ESTATE LOCATED GENERALLY AT 4100 WEST VICTORIA STREET, IN CHICAGO, ILLINOIS PURSUANT TO COOK COUNTY, ILLINOIS REAL PROPERTY ASSESSMENT CLASSIFICATION ORDINANCE
WHEREAS, the Cook County Board of Conimissioners 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, Victoria Limited, LLC, an Illinois limited liability company (the "Applicant"), is the owner of certain real estate located generally at 4100 West Victoria Street, Chicago, Illinois 60646 as further described on Exhibit A hereto (the "Subject Property") and has substantially rehabilitated an approximately 77,000 square foot industrial facility thereon; and
' WHEREAS, the Applicant leases the Subject Property to Royal Industries, Inc., an Illinois corporation, which occupies the Subject Property and operates a manufacturing facility thereon; and
WHEREAS, on February 11, 2004 the City Council of the City enacted a resolution supporting and consenting 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; and
WHEREAS, on April 9, 2013, the Applicant has filed an application for renewal of the Class 6(b) classification with the Assessor pursuant to the Ordinance; and
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