SCON.
OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
May 8,2013
TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO
Ladies and Gentlemen:
At the request of the Commissioner of Housing and Economic Development, I transmit herewith an ordinance authorizing a Class 7( b) tax status for Delta Real Estate.
Your favorable consideration of this ordinance will be appreciated.
Mayor
Very truly yours,
ORDINANCE
WHEREAS, the City of Chicago (the "City") is a home rule unit of government under Section 6(a), Article VII of the 1970 Constitution of the State of Illinois authorized to exercise any power and perform any function pertaining to its government and affairs; and
WHEREAS, pursuant to an ordinance adopted December 16, 1983, and published in the Journal of Proceedings at pages 3991 to 3993, amended by ordinance adopted November 6, 2002, and published in the Journal of Proceedings at pages 95277 to 95285, and most recently amended again by ordinance adopted on April 10, 2013 (said ordinances and all amendments collectively referred to as the "Enterprise Zone Ordinance"), the City Council established "Enterprise Zone 4" in accordance with the Illinois Enterprise Zone Act, 20 ILCS 665/1, et seq., finding, among other things, that Enterprise Zone 4 is a depressed area; and
WHEREAS, certain real estate located at 2501 North Elston Avenue in Chicago (the "Project Site"), as more precisely described on Exhibit A attached hereto and hereby made a part hereof, is located within the boundaries of Enterprise Zone 4; and
WHEREAS, Delta Real Estate Holdings, LLC, a Michigan limited liability company ("Applicant"), proposes to construct and operate an approximately 101,596 square foot automobile dealership on the Project Site (the "Project"); and
WHEREAS, the Project will increase employment opportunities, economic activity in the area and growth in the real property tax base; and
WHEREAS, Stewart and David Reich, individuals, ("Owners") currently...
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