OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
October 14,2015
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 7(b) tax status for 3456 CHI, LLC.
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 by the City Council of the City ("City Council"), the City 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 generally located at 3440 N Kedzie Avenue in the City, as more precisely described on Exhibit A attached hereto and hereby made a part hereof (the "Project Site"), is located within the boundaries of Enterprise Zone 4; and
WHEREAS, 3456.CHI, LLC, an Illinois limited liability company ("Applicant"), proposes to rehabilitate and currently intends to lease the property to Mid City Nissan, Inc., an Illinois corporation ("Tenant"), and Tenant intends to operate an approximately 134,655 square foot automobile dealership and service center on the approximately 266,000 square foot Project Site (the "Project"); and
WHEREAS, the Applicant purchased the Project Site for value; and
WHEREAS, the Project Site has been abandoned for approximately twenty-three months; and
WHEREAS, the City's Department of Planning and Development ("DPD") has determined that the property contains numerous depressed conditions that continue to impede the development of the property, including but not limited to func...
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