Share to Facebook Share to Twitter Bookmark and Share
This record contains private information, which has been redacted from public viewing.
Record #: SR2015-693   
Type: Resolution Status: Adopted
Intro date: 9/24/2015 Current Controlling Legislative Body: Committee on Economic, Capital and Technology Development
Final action: 4/13/2016
Title: Support of Class 6(b) tax incentive for property at 4350 N Normandy Ave and 6701 W Forest Preserve Dr
Sponsors: Sposato, Nicholas
Topic: TAX INCENTIVES - Class 6(b)
Attachments: 1. SR2015-693.pdf, 2. R2015-693.pdf
SUBSTITUTE RESOLUTION CLASS 6(B) REAL ESTATE TAX INCENTIVE FOR THE BENEFIT OF THE ELI'S CHEESECAKE COMPANY, AN ILLINOIS CORPORATION AND REAL ESTATE LOCATED GENERALLY AT 6701 WEST FOREST PRESERVE DRIVE AND 4350 NORTH NORMANDY 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 and expand in the City by supporting financial incentives in the form of property tax relief; and
WHEREAS, The Eli's Cheesecake Company, an Illinois corporation (the "Applicant"), owns certain real estate located generally at 6701 West Forest Preserve Drive and 4350 North Normandy Avenue, Chicago, Illinois 60634, as further described on Exhibit A hereto (the "Subject Property"); and
WHEREAS, the Applicant intends to construct an approximately 38,465 square foot addition to an existing industrial facility located on the Subject Property; and
WHEREAS, the Applicant has filed with the Office of the Assessor of Cook County (the "Assessor") an eligibility application for a Class 6(b) tax incentive under the Ordinance; and
WHEREAS, the Subject Property is located within the Chicago Read-Dunning Redevelopment Project Area (created pursuant to the Illinois Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et. seq., as amended, and pursuant to an ordinance enacted by the City Council of the City), and the purposes of Redevelopment Project Areas are also to provide certain incentives in order to stimulate economic activity a...

Click here for full text