SUBSTITUTE RESOLUTION CLASS 6b REAL ESTATE TAX INCENTIVE FOR THE BENEFIT OF REAL ESTATE LOCATED WITHIN CERTAIN INDUSTRIAL CORRIDORS 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, Class 6b 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, various individuals or entities (each, an "Applicant"), may own or acquire certain real estate located in certain industrial corridors within Chicago, Illinois, as further described on Exhibit A hereto, which the City has identified as areas in need of industrial development or redevelopment and which qualify as Industrial Growth Zones as" defined in Section .74-62 of the Ordinance (the "Industrial Growth Zones"), and a preliminary list of Permanent Index Numbers for each Subject Property in the Industrial Growth Zones is attached hereto as Exhibit B and hereby incorporated herein; and
WHEREAS, an Applicant may develop property (each, a "Subject Property") within an Industrial Growth Zone in a manner which may cause it to become eligible for a Class 6b tax incentive under the Ordinance; and
WHEREAS, an Applicant may file with the Office of the Assessor of Cook County (the "Assessor") an eligibility application for a Class 6b tax incentive under the Ordinance with respect to a Subject Property (an "Application"); and
WHEREAS, it is the responsibility of the Assessor to determine that an application for a Class 6b classification or renewal of such classification is eligible pursuant to the Ordinance; and
WHEREAS, the Ordinance requires that, in connection with the filing of an Application with the Assessor, the Applicant must obtain from an authorized officer of the municipality in which such real estate that is proposed for such designation is located a letter stating that the municipality supports and consents to the filing of the Application with the Assessor; now, therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:
SECTION 1. The above recitals are expressly incorporated in and made a part of this resolution as though fully set forth herein.
I
SECTION 2. Subject to review of each project on each Subject Property by the Commissioner of the City's Department of Planning and Development ("DPD") or a designee of the Commissioner of DPD (each, an "Authorized Officer"), and expressly conditioned upon a written final determination of the eligibility of each project on each Subject Property and a verification of an accurate final legal description and correct Permanent Index Numbers for each Subject Property by the Authorized Officer, including the City's redevelopment objective, the Applicant's intended use ofthe Subject Property and confirmation that the City has received and reviewed an Economic Disclosure Statement (as defined in the Ordinance) (together with such other information as may be required in the authorized officer letter described in Section 74-63(7) of the Ordinance, the "Letter"), the City hereby determines that the incentive provided by Glass 6b classification by the Assessor is necessary for development to occur on each Subject Property.
SECTION 3. Subject to and expressly conditioned upon the issuance of a Letter, the
. City hereby expressly supports and consents to the Class 6b classification by the Assessor with
respect to each Subject Property. ■_ _ _
SECTION 4. The Authorized Officer is hereby authorized to execute such documents,
including, without limitation each Letter, as may be necessary to implement this resolution,
subject to the approval of the Corporation Counsel - - — - - - -
SECTION 5. The Authorized Officer is hereby authorized to send certified copies of this;resolution, if required under the'Ordinance, and the Letter made in connection with-each Subject Property, to the Office of the Gook County Assessor. Certified copies of this resolution; if required under the Ordinance, and the Letter made in connection with'the specific Subject Property, may be included with each Application filed with the Assessor by an Applicant in accordance with the Ordinance.
SECTION 6. This resolution shall be effective immediately upon its passage and approval and shall be repealed of its own accord, without further action by the City Council, on August 1., 2019; provided, however, that such repeal shall not affect the validity of certified copies of this resolution and' any Letter with respect to any Applications submitted to the Assessor before such date of repeal.
Emma Mitts Alderman, 37th Ward
2
EXHIBIT A
See attached general boundary descriptions or a map of each industrial corridor, subject to the
Letter issued by the Authorized Officer
3
EXHIBIT B-1
Permanent Index Numbers for each Subject Property located in the Burnside Industrial Corridor
(attached)
Pin Number PINA PINSA PINB PINP PINU
2502102004 25 2 102 4 0
25 2 102 13 0
25 2 102 14 0
25 2 102 15 0
2502102022 25 2 102 22 0
25 2 102 25 0
25 2 102 26 0
25 2 102 28 0
25 2 102 29 0
2502102032 25 2 102 32 0
2502102034 25 2 102 34 0
25 2 102 37 0
25 2 102 38 0
2502102040 25 2 102 40 0
25 2 102 43 0
25" 2"102" 44" 6"
2502102047 25 2 102 47 0
25 2 102 52 0
25 2 102 53 0
25 2 113 8 0
25 2 - 113 9 0
2502114050 25 2 114 50 0
2502200003 25 2 200 3 0
2502200010 25 2 200 10 0
25 2 200 15 0
25 2 200 16 0
2502200020 25 2 200 20 0
2502200022 25 2 200 22 0
2502200024 25 2 200 24 0
25 2 200 29 0
25 2 200 30 0
25 2 200 31 0
25 2 200 32 0
2502401001 25 2 401 1 0
2502401004 25 2 401 4 0
2502401006 25 2 401 6 0
25 2 408 1 0
25 2 408 2 0
25 2 408 3 0
25 2 408 4 0
25 2 408 5 0
25 2 408 6 0
25 2 408 7 0
25 2 408 8 0
25 2 408 9 0
25 2 408 10 0
25 2 408 11 0
25 2 408 12 0
25 2 408 16 0
25 2 408 17 0
PROCO JOE MORENO
CITY COUNCIL
City of Chicago
Aldehman, 1st Ward 2740 Wi;sr North Avenue Chicago, Illinois 60647 Telephone- 773-278-0101 Fax- 773-278-2541
COMMITTEE MEMBERSHIPS
Chairman, Committee on Economic, Capital & Technology Development
Committees, Rui ts & Ethics Finangi-
Hl-alth & Environmental Protection Special Events, Cultural Affairs & Recheation Zoning, Landmarks & Building Standards
City Hall, Room 300 121 Nohtm LaSalle Street
Chicago, Illinois 60602 telephone (312) 744-3063
Fax: (312) 744-2870
April 19, 2017
To the President and Members of the City Council:
Your committee on Economic, Capital & Technology Development, for which a meeting was held on April 18, 2017, having had under consideration the following three (3) items:
A Substitute Resolution in support of a Class 6(b) tax incentive for property at 1719 W
35th St.
Resolution in support of Class 6(b) tax incentive for property at 1455 W Willow St.
A Substitute Resolution seeking to amend the provisions concerning Cook County Class 6(b) tax incentives
All of which were concurred by a voice vote. Respectfully submitted,
Proco Joe Moreno, Chairman
Committee on Economic, Capital & Technology Development