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This record contains private information, which has been redacted from public viewing.
Record #: O2014-4224   
Type: Ordinance Status: Passed
Intro date: 5/28/2014 Current Controlling Legislative Body: Committee on Finance
Final action: 6/25/2014
Title: Support of Class C tax status for property at 1550 N Fremont St
Sponsors: Emanuel, Rahm
Topic: TAX INCENTIVES - Class C
Attachments: 1. O2014-4224.pdf

CHICAGO June 25, 2014
To the President and Members of the City Council:
Your Committee on Finance having had under consideration
A communication recommending a proposed ordinance concerning the authority
to approve a Class C Real Estate Tax Incentive Classification for property located at 1550
North Fremont Street.
02014-4224














Having had the same under advisement, begs leave to report and recommend that your Honorable Body pass the proposed Ordinance Transmitted Herewith

This recommendation was concurred in by
of members of the committee with



Respectfully submitted

Chairman
Document No.




REPORT OF THE COMMITTEE ON FINANCE TO THE CITY COUNCIL CITY OF CHICAGO
OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
May 28, 2014










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 ordinance authorizing a Class C Tax Status for property located at 1550 North Fremont.

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 Section6(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, the Cook County Board of Commissioners has enacted the Cook County Real Property Assessment Classification Ordinance, as amended from time to time (the "Classification 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 or commercial purposes; and

WHEREAS, the City, consistent with the Classification Ordinance, wishes to induce industry to locate, expand and remain in the City by supporting financial incentives in th...

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