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This record contains private information, which has been redacted from public viewing.
Record #: R2015-695   
Type: Resolution Status: Adopted
Intro date: 9/24/2015 Current Controlling Legislative Body: Committee on Economic, Capital and Technology Development
Final action: 10/14/2015
Title: Support of Class 6(b) tax incentive for property at 3000 S Damen Ave
Sponsors: Solis, Daniel
Topic: TAX INCENTIVES - Class 6(b)
Attachments: 1. R2015-695.pdf
RESOLUTION

CLASS 6(B) REAL ESTATE TAX INCENTIVE FOR THE BENEFIT OF SCANNELL PROPERTIES #204, LLC, AN INDIANA LIMITED LIABILITY COMPANY, AND
REAL ESTATE LOCATED GENERALLY AT 3000 SOUTH DAMEN 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, Scannell Properties #204, LLC, an Indiana limited liability company (the "Applicant"), owns certain real estate located generally at 3000 South Damen Avenue, Chicago, Illinois 60608, as further described on Exhibit A hereto (the "Subject Property"); and

WHEREAS, the Applicant intends to construct an approximately 219,501 square foot industrial facility located on the Subject Property; and
WHEREAS, the Applicant intends to lease the Subject Property to FedEx Ground Package System, Inc., a Delaware corporation (the "Tenant"), and Tenant intends to use said property as a package distribution and storage facility, including outside parking, storage of tractors, trailers, trucks and other vehicles; 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 (i) the Chicago Empowerment Zone (created pursuant to Title XIII of the Omnibus Budget Reconciliation Act of 1993 (Public Law 103-66))...

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