Office of the City Clerk - Record #: R2014-632

• Record #: R2014-632
• Type: Resolution
• Status: Adopted
• Intro date: 9/10/2014
• Current Controlling Legislative Body: Committee on Economic, Capital and Technology Development
• Final action: 10/8/2014
• Title: Support of Class 6(b) tax incentive for property at 4301 S Packers Ave
• Sponsors: Balcer, James
• Topic: TAX INCENTIVES - Class 6(b)

Date	Journal Page Number	Action By	Action	Result
10/8/2014	92168	City Council	Adopted	Pass
10/6/2014		Committee on Economic, Capital and Technology Development	Recommended to Pass	Pass
9/10/2014	88897	City Council	Referred

RESOLUTION FOR RENEWAL OF CLASS 6(B) REAL ESTATE TAX INCENTIVE FOR THE BENEFIT OF SPUR ASSOCIATES, LLC, AND REAL ESTATE LOCATED GENERALLY AT 4301 SOUTH PACKERS 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, Spur Associates, LLC, an Illinois limited liability company (the "Applicant"), is the owner of certain real estate located generally 4301 South Packers Avenue, Chicago, Illinois 60609 as further described on Exhibit A hereto (the "Subject Property") and has substantially rehabilitated an approximately 19,980 square foot industrial facility thereon; and

WHEREAS, the Applicant leases the Subject Property to Dual-Temp of Illinois, Inc. ("Dual-Temp"); and

WHEREAS, Dual-Temp currently operates an industrial facility also located at 4301 South Packers Avenue, Chicago Illinois 60609; and

WHEREAS, on October 14, 1992 the City Council ofthe City (the "City Council") enacted a resolution supporting and consenting to the Class 6(b) classification of the Subject Property by the Office ofthe Assessor of Cook County (the "Assessor")(the "First Class 6(b)"); and .,

WHEREAS, the Assessor granted the First Class 6(b); and
WHEREAS, on December 12, 2001 the City Council enacted a resolution supporting and consenting a renewal of the Class 6(b) classification of the Subject Property by the As...