Share to Facebook Share to Twitter Bookmark and Share
This record contains private information, which has been redacted from public viewing.
Record #: R2016-544   
Type: Resolution Status: Adopted
Intro date: 7/20/2016 Current Controlling Legislative Body: Committee on Economic, Capital and Technology Development
Final action: 9/14/2016
Title: Support of Class 6(b) tax incentive for property at 4237 W Ann Lurie Pl (a.k.a. 4237 W 42nd Pl)
Sponsors: Thompson, Patrick D.
Topic: TAX INCENTIVES - Class 6(b)
Attachments: 1. R2016-544.pdf, 2. R2016-544 (V1).pdf
RESOLUTION FOR RENEWAL OF CLASS 6(B) REAL ESTATE TAX INCENTIVE
FOR THE BENEFIT OF BOND CORP., AN ILLINOIS CORPORATION, AND REAL ESTATE LOCATED GENERALLY AT 4237 WEST ANN LURIE PLACE (AKA 4237 WEST 42ND PLACE) 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 pwners 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, expand and remain in the City by supporting financial incentives in the form of property tax relief; and

WHEREAS, Bond Corp., an Illinois corporation (the "Applicant"), is the owner of certain real estate located generally at 4237 West Ann Lurie Place (aka 4237 West 42nd Place), Chicago, Illinois 60632 as further described on Exhibit A hereto (the "Subject Property") and has constructed an approximately 50,000 square foot industrial facility thereon; and

WHEREAS, on June 29, 2005, the City Council of the City enacted a resolution supporting and consenting to the Class 6(b) classification of the Subject Property by the Office of the Assessor of Cook County (the "Assessor"); and

WHEREAS, the Assessor granted the Class 6(b) tax incentive in connection with the Subject Property in 2005; and

WHEREAS, on July 20, 2016, the City Council of the City enacted a resolution supporting and consenting to the renewal of the Class 6(b) classification of the Subject Property by the Assessor; and

WHEREAS, the Applicant has filed an application for an additional renewal of the Class 6(b) classification with the Assessor pursuant to the Ordinance; and

WHEREAS, i...

Click here for full text