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RESOLUTION FOR RENEWAL OF CLASS 6(B) REAL ESTATE TAX INCENTIVE FOR THE BENEFIT OF DUTCH FARMS, INC., AND REAL ESTATE LOCATED GENERALLY AT 801 E. 107™ STREET 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, Dutch Farms, Inc., an Illinois corporation (the "Applicant"), is the owner of certain real estate located generally at 801 E. 107th Street, Chicago, Illinois 60628 as further described on Exhibit A hereto (the "Subject Property") and has substantially rehabilitated an approximately 122,400 square foot industrial facility thereon; and
WHEREAS, on November 5, 2003, the City Council ofthe 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 in 2003; and
WHEREAS, on December 23, 2004, the Applicant acquired the Subject Property from Pullman Distribution, LLC, a prior owner which had filed with the Office of the Assessor of Cook County (the "Assessor") an eligibility application for a Class 6(b) incentive under the Ordinance in connection with the development of the Subject Property; and
WHEREAS, the Applicant has filed an application for renewal ofthe Class 6(b) clas...
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