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Record #: R2016-245   
Type: Resolution Status: Adopted
Intro date: 4/13/2016 Current Controlling Legislative Body: Committee on Economic, Capital and Technology Development
Final action: 5/18/2016
Title: Support of Class 6(b) tax incentive for property at 3057 N Rockwell St
Sponsors: Mell, Deborah
Topic: TAX INCENTIVES - Class 6(b)
Attachments: 1. R2016-245 (V1).pdf, 2. R2016-245.pdf
RESOLUTION CLASS 6(B) REAL ESTATE TAX INCENTIVE FOR THE BENEFIT OF ROCKWELL PROPERTIES LLC AND REAL ESTATE LOCATED AT 3057 NORTH ROCKWELL 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, Rockwell Properties LLC, an Illinois limited liability company (the "Applicant"), is the owner of certain real estate located at 3057 North Rockwell, Chicago, Illinois 60618, as further described on Exhibit A hereto (the "Subject Property"); and

WHEREAS, the Applicant leases a portion of the Subject Property to Metropolis Coffee Company, LLC, an Illinois limited liability company (the "Tenant"), and Tenant uses said property for coffee roasting, warehousing, and office space, for the production and sale of coffee products, and for related uses; and

WHEREAS, the Applicant intends to rehabilitate approximately 112,000 square feet and demolish 23,000 square feet of an approximately 135,000 square foot industrial facility located on the Subject Property; and

WHEREAS, following the rehabilitation and demolition, the Applicant plans to continue leasing a portion of the Subject Property to the Tenant and target food related companies to lease the remaining portions of the Subject Property; and

WHEREAS, the Applicant has filed with the Office of the Assessor of Cook County (the "Assessor") an eligibility application ...

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