Office of the City Clerk - Record #: R2015-810

• Record #: R2015-810
• Type: Resolution
• Status: Adopted
• Intro date: 10/14/2015
• Current Controlling Legislative Body: Committee on Economic, Capital and Technology Development
• Final action: 10/28/2015
• Title: Support of Class 6(b) tax incentive for property at 5801 W Dickens Ave
• Sponsors: Taliaferro, Chris
• Topic: TAX INCENTIVES - Class 6(b)

Date	Journal Page Number	Action By	Action	Result
10/28/2015	12649	City Council	Adopted	Pass
10/26/2015		Committee on Economic, Capital and Technology Development	Recommended to Pass	Pass
10/14/2015	10208	City Council	Referred

RESOLUTION CLASS 6(B) REAL ESTATE TAX INCENTIVE FOR THE BENEFIT OF MILLER BAY LLC, AN ILLINOIS LIMITED LIABILITY COMPANY, AND REAL ESTATE LOCATED GENERALLY AT 5801 WEST DICKENS 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, Miller Bay LLC, an Illinois limited liability company (the "Applicant"), owns certain real estate located generally at 5801 West Dickens Avenue, Chicago, Illinois 60639, as further described on Exhibit A hereto (the "Subject Property"); and

WHEREAS, the Applicant intends to substantially rehabilitate an approximately one hundred ten thousand (110,000) square foot industrial facility located on the Subject Property; and

WHEREAS, the Applicant, intends to lease the Subject Property to various unidentified tenants that will engage in industrial work; 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 City of Chicago Enterprise Zone No. 5 (created pursuant to the Illinois Enterprise Zone Act, 20 ILCS 665/1 et seq as amended, and pursuant to an ordinance enacted by the City Council of the City, as amended) ,and (ii) the Galewood/Armitage Redevelopment Project Area (created pursuant...