RESOLUTION
CLASS 6(B) REAL ESTATE TAX INCENTIVE FOR THE BENEFIT OF 3418 N. KNOX, LLC, AN ILLINOIS LIMITED LIABILITY COMPANY, AND REAL ESTATE LOCATED GENERALLY AT 6460 WEST CORTLAND STREET 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, 3418 N. Knox, LLC, an Illinois limited liability company (the "Applicant"), owns certain real estate located generally at 6460 West Cortland Street, Chicago, Illinois 60607, as further described on Exhibit A hereto (the "Subject Property"); and
WHEREAS, the Applicant has leased the Subject Property to an affiliate, Alpina Manufacturing LLC, pursuant to a lease agreement dated August 1, 2014; and
WHEREAS, the Applicant intends to substantially rehabilitate an approximately 99,000 square foot 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 Galewood/Armitage 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 purpose of the Redevelopment Project Area is also to provide certain incentives in order to stimulate economic activity and to revitalize depressed areas; and
WHEREAS, it is the responsibility of the Assessor to determine that an application for a Class 6(b) classification or renewal of a Class 6(b) classification is eligible pursuant to the Ordinance; and
WHEREAS, the Ordinance requires that, in connection with the filing of a Class 6(b) eligibility application with the Assessor, the applicant must obtain from the municipality in which such real estate that is proposed for Class 6(b) designation is located a resolution expressly stating that the municipality has determined that the incentive provided by Class 6(b) is
necessary for development to occur on such real estate and that the municipality supports and consents to the Class 6(b) classification by the Assessor; and
WHEREAS, the intended use of the Subject Property will provide significant present and future employment; and
WHEREAS, notwithstanding the Class 6(b) status of the Subject Property, the redevelopment and utilization thereof will generate significant new revenues to the City in the form of additional real estate taxes and other tax revenues; now, therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF^CHICAGO:
SECTION 1: That the City determines that the incentive provided by Class 6(b) is necessary for the development to occur on the Subject Property.
SECTION 2: That the City supports and consents to the Class 6(b) classification by the Assessor with respect to the Subject Property.
SECTION 3: That the Clerk of the City of Chicago is authorized to and shall send a certified copy of this resolution to the Office of the Cook County Assessor, Room 312, County Building, Chicago, Illinois 60602 and a certified copy of this resolution may be included with the Class 6(b) eligibility application filed with the Assessor by the Applicant, as applicant, in accordance with the Ordinance.
SECTION 4: That this resolution shall be effective immediately upon its passage and approval.
CL
Honorable CYiris Taliaferro Alderman, 29th Ward
EXHIBIT A
Legal Description of Subject Property:
PARCEL 1:
ALL THAT PORTION OF BLOCKS 8, 9 AND 10 OF A. GALE'S SUBDIVISION IN THE SOUTHEAST lA OF SECTION 31, TOWNSHIP 40 NORTH, RANGE 13, EAST OF THE THIRD PRINCIPAL MERIDIAN,
ALSO
ALL THAT PORTION OF THE SOUTHEAST !4 OF THE NORTHEAST % OF SECTION 31, TOWNSHIP 40 NORTH, RANGE 13, EAST OF THE THIRD PRINCIPAL MERIDIAN, ALSO ALL VACATED ALLEYS WITHIN SAID BLOCKS, ALSO THAT PART OF VACATED NATCHEZ AVENUE AND VACATED NAGLE AVENUE LYING NORTH OF THE SOUTH LINE OF SAID BLOCKS EXTENDED EAST AND WEST AND THAT PART OF VACATED ARMITAGE AVENUE LYING EAST OF THE WEST LINE OF SAID BLOCK 10 EXTENDED NORTH LYING SOUTH OF THE FOLLOWING DESCRIBED LINE: v
BEGINNING AT A POINT IN THE WEST LINE OF SAID SOUTHEAST % OF THE • NORTHEAST lA 800.10 FEET NORTH OF THE SOUTH LINE OF SAID BLOCK 10 EXTENDED; THENCE ON AN ARC CONVEX TO THE NORTHEAST AND HAVING A RADIUS OF 769.02 FEET, A DISTANCE OF 372.50 FEET, THE TANGENT TO SAID ARC AT ITS POINT OF BEGINNING MAKES AN ANGLE WITH THE WEST LINE OF SAID SOUTHEAST lA OF THE NORTHEAST lA OF 86 DEGREES 13 MINUTES IN THE SOUTHEAST QUADRANT; THENCE CONTINUING ON AN ARC CONVEX TO THE SOUTHWEST AND HAVING A RADIUS OF 1,332.57 FEET, A DISTANCE OF 207.90 FEET; THENCE SOUTHEASTERLY ON A STRAIGHT LINE TANGENT TO LAST SAID ARC A DISTANCE OF 83 FEET; THENCE ON AN ARC CONVEX TO THE SOUTH AND HAVING A RADIUS OF 1,960.88 FEET A DISTANCE OF 564.70 FEET; THEN ON A STRAIGHT LINE TANGENT TO LAST SAID ARC TO A POINT ON THE EAST LINE OF SAID BLOCK 8, 419.70 FEET NORTH OF THE SOUTH LINE OF SAID BLOCK B (EXCEPTING THEREFROM THAT PART THEREOF WHICH LIES WEST OF A LINE WHICH IS 388 FEET EAST OF AND PARALLEL WITH THE EAST LINE OF NASHVILLE AVENUE AND EXCEPT THAT PART THEREOF WHICH LIES EAST OF A LINE WHICH IS 575 FEET WEST OF AND PARALLEL WITH THE WEST LINE OF NORTH NARRAGANSETT AVENUE), IN COOK COUNTY, ILLINOIS.
ALSO
PARCEL 2:
TOGETHER WITH A NON-EXCLUSIVE EASEMENT CREATED BY RESERVATION IN DEED TO BECKLEY-CARDY COMPANY DATED JULY 27, 1953 AND RECORDED JULY 29, 1953 AS DOCUMENT 15681649, AND IN DEED UNITED STATES PLYWOOD CORPORATION DATED JULY 29, 1953 AND RECORDED JULY 30, 1953 AS DOCUMENT 15682683, FOR THE BENEFIT OF THE OWNER, OR OWNERS, MORTGAGEES AND OCCUPANTS, FROM TIME TO TIME, OF SAID PARCEL 1, OVER THE REAL ESTATE DESCRIBED AS EASEMENT NOS. 1 AND 3 ON PLAT OF SURVEY MADE BY EMMET KENNEDY DATED JULY 27, 1953 AND RECORDED JULY 29, 1953 AS DOCUMENT 15681648, WHICH IS PLAT IS HEREINAFTER REFERRED TO AS 'JULY PLAT' FOR A PRIVATE ROADWAY FOR VEHICULAR TRAFFIC FOR INGRESS AND EGRESS FROM SAID PARCEL 1 TO NORTH NARRAGANSETT AVENUE, IN COOK COUNTY, ILLINOIS.
ALSO
PARCEL 3:
TOGETHER WITH A NON-EXCLUSIVE EASEMENT CREATED BY RESERVATIONS IN AFORESAID DEED TO BECKLEY-CARDY COMPANY RECORDED AS DOCUMENT 15681649 AND IN AFORESAID DEED TO UNITED STATES PLYWOOD CORPORATION RECORDED AS DOCUMENT 15682683 AND IN DEED TO WESTINGHOUSE ELECTRIC SUPPLY COMPANY DATED SEPTEMBER 14, 1953 AND RECORDED SEPTEMBER 15, 1953 AS DOCUMENT 15719580, FOR THE BENEFIT OF THE OWNERS, OR OWNER, MORTGAGEES AND OCCUPANTS, FROM TIME TO TIME, OF SAID PARCEL 1, FOR RAILROAD SWITCH TRACT PURPOSES OVER THE REAL ESTATE DESCRIBED AS EASEMENTS NOS. 2 AND 4 ON SAID 'JULY PLAT' AND AS EASEMENT NO. 10 ON PLAT OF SURVEY MADE BY EMMET KENNEDY DATED AUGUST 25, 1953 AND RECORDED SEPTEMBER 15, 1953 AS DOCUMENT 15719579, HEREINAFTER REFERRED TO AS 'AUGUST PLAT' FOR THE SWITCHING OR RAILROAD CARS ON RAILROAD TRACK CONSTRUCTED ON THE REAL ESTATE DESCRIBED AS EASEMENTS NOS. 2, 4 AND 7 ON THE AFORESAID 'JULY PLAT' AND AS EASEMENT NO. 10 ON AFORESAID 'AUGUST PLAT', IN COOK COUNTY, ILLINOIS.
ALSO
PARCEL 4:
TOGETHER WITH A NON-EXCLUSIVE EASEMENT, CREATED BY RESERVATION IN DEED TO WESTINGHOUSE ELECTRIC SUPPLY COMPANY AND RECORDED AS DOCUMENT 15719580, FOR THE BENEFIT OF THE OWNERS, OR OWNER, MORTGAGEES AND OCCUPANTS, FROM TIME TO TIME, OF SAID PARCEL 1, FOR THE. CONSTRUCTION, OPERATION, MAINTENANCE, REPAIR AND USE OF A
RAILROAD SPUR TRACK AND SWITCH ON AND OVER THE REAL ESTATE RAILROAD SPUR TRACT AND SWITCH ON AND OVER THE REAL ESTATE DESCRIBED AS EASEMENT NO. 10 ON AFORESAID 'AUGUST PLAT, IN COOK COUNTY, ILLINOIS.
Permanent Real Estate Tax Index Numbers (PINS) for the Subject Property:
13-31-205-042-0000 and 13-31-425-004-0000
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PROCO JOE MORENO
CITY COUNCIL
City of Chicago
2740 Wi-.-.i N»;im Av[i,ui ChiCaOO. ILLINOIS 6064 7 I i i i-r-HOML- ^73-276-0 I U 1
CiiY Hah . Room 300 121 Nohth L*Sall£ Siheli CHICAOO. ILLINOIS C0602 TELEPHONE (312) 744-3063 Fax- (312) 744 2070
June 22, 2016
To the President and Members of the City Council:
Your committee on Economic, Capital & Technology Development.for which a meeting was held June 14, 2016, having had under consideration four (4) items, including the direct introduction of an ordinance finding that certain portions of a property at 111 E Cermak Road are blighted. This ordinance was introduced by Mayor Emmanuel. This direct ordinance was in relation to the second item on the agenda, which was an ordinance for a Class 7(b) tax incentive for the property located at 111 E Cermak Road. This ordinance was introduced by Alderman Dowell at the May 18, 2016 City Council Meeting. During the Committee meeting, a substitute ordinance for the Class 7 (b) tax incentive for the property located at 111 E Cermak Road was accepted and passed. The third item was a Class 6(b) resolution introduced by Alderman Taliaferro at the May 18, 2016 City Council meeting for the property located 6460 W Cortland. The fourth item on the agenda was a Class 6(b) resolution introduced by Alderman Sposato at the November 18, 2015 City Council meeting for the property located at 4351 N. Normandy Avenue. There was also a substitute ordinance for this committee item. These recommendations were concurred in a voice vote of all committee members present with no dissenting votes.
Proco Joe Moreno, Chairman
Committee on Economic, Capital & Technology Development
Respectfully submitted,
