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This record contains private information, which has been redacted from public viewing.
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Type:
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Resolution
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Status:
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Adopted
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Title:
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Support of Class 6(b) tax incentive for property at 1629 S Clinton St
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Topic:
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TAX INCENTIVES - Class 6(b)
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RESOLUTION
CLASS 6(B) REAL ESTATE TAX INCENTIVE FOR THE BENEFIT OF 773 LLC D/B/A CH DISTILLERY, AN ILLINOIS LIMITED LIABILITY COMPANY, AND REAL ESTATE LOCATED GENERALLY AT 1629 SOUTH CLINTON 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, 773 LLC d/b/a CH Distillery, an Illinois limited liability company (the "Applicant"), owns certain real estate located generally at 1629 South Clinton Street, Chicago, Illinois 60616, as further described on Exhibit A hereto (the "Subject Property"); and
WHEREAS, the Applicant intends to construct an approximately 20,000 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 City of Chicago Enterprise Zone No. 1 (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 the purpose of Enterprise Zone 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 Ciass 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 Ciass 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.
Honorable Daniel Alderman, 25th Ward
SECTION 4: That this resolution shall be/eff£ctive imm^aJely/o'pon its passage and approval.
S /SHARI-D/I 'iniirux'/'("lii^s 6(b )/'><)1 6 Risnlulions.'CI-[ DistilluryRoMiluiioii vi.clocx
EXHIBIT A
Legal Description of Subject Property:
THE NORTH 331.42 FEET (AS MEASURED AT RIGHT ANGLES TO THE SOUTH LINE OF WEST 16th STREET) OF THE FOLLOWING TWO PARCELS TAKEN AS A SINGLE TRACT:
PARCEL 3
LOTS 1 TO 5, BOTH INCLUSIVE; LOTS 39 TO 50, BOTH INCLUSIVE; TOGETHER WITH ALL OF THE VACATED ALLEY NORTH OF AND ADJOINING SAID LOT 39 AND NORTH OF AND ADJOINING THE WEST 1/2 OF THE VACATED ALLEY EAST OF AND ADJOINING SAID LOT 39; ALSO THE WEST 1/2 OF THE VACATED ALLEY EAST OF AND ADJOINING SAID LOTS 39 TO 50, BOTH INCLUSIVE, ALL IN C.J. HULL'S SUBDIVISION OF LOT 2 IN BLOCK 44 IN CANAL TRUSTEES' SUBDIVISION OF THE WEST 1/2 OF SECTION 21, TOWNSHIP 39 NORTH, RANGE 14. EAST OF THE THIRD PRINCIPAL MERIDIAN, AND SO MUCH OF THE SOUTHEAST 1/4 AS LIES WEST OF THE SOUTH BRANCH OF THE CHICAGO RIVER, IN COOK COUNTY, ILLINOIS.
PARCEL 5
LOTS 37 TO 46, BOTH INCLUSIVE; TOGETHER WITH THE EAST 1/2 OF THE VACATED ALLEY WEST OF AND ADJOINING SAID LOTS AND THE WEST 1/2 OF VACATED SOUTH NORMAL AVENUE, LYING EAST OF AND ADJOINING SAID LOTS IN JOHN F. IRWIN'S SUBDIVISION OF LOT 1 IN BLOCK 44 IN CANAL TRUSTEES' SUBDIVISION OF THE WEST 1/2 OF SECTION 21, TOWNSHIP 39 NORTH, RANGE 14, EAST OF THE THIRD PRINCIPAL MERIDIAN, AND SO MUCH OF THE SOUTHEAST 1/4 AS LIES WEST OF THE SOUTH BRANCH OF THE CHICAGO RIVER, ALSO THAT PART OF LOTS 35, 36, AND VACATED ALLEY NORTH OF AND ADJOINING SAID LOT 37, ALL IN JOHN F. IRWIN'S SUBDIVISION AFORESAID FALLING WITHIN THE FOLLOWING DESCRIBED PARCEL OF LAND: COMMENCING AT THE NORTHWEST CORNER OF LOT 2 IN THE AFORESAID C. J. HULL'S SUBDIVISION; THENCE NORTH 89 DEGREES, 46 MINUTES, 15 SECONDS WEST ALONG THE NORTH LINE OF LOTS 3, 4, AND 5 IN SAID C. J. HULL'S SUBDIVISION, 60.197 FEET TO THE NORTHWEST CORNER OF THE AFORESAID LOT 5; THENCE SOUTH 00 DEGREE, 01 MINUTE. 24 SECONDS EAST ALONG THE WEST LINE OF SAID LOT 5 AND THE SOUTHERLY EXTENSION THEREOF, 131.28 FEET TO THE CENTERLINE OF THE VACATED ALLEY LYING SOUTH OF AND ADJOINING THE AFORESAID LOTS 1 TO 5; THENCE SOUTH 89 DEGREES, 45 MINUTES, 33 SECONDS EAST ALONG SAID CENTERLINE AND THE EASTERLY EXTENSION THEREOF, 105.35 FEET TO THE NORTHERLY EXTENSION OF THE CENTERLINE OF THE VACATED ALLEY LYING EAST OF AND ADJOINING LOTS 39 TO 50 IN THE AFORESAID C. J HULL'S SUBDIVISION; THENCE SOUTH 00 DEGREE, 01 MINUTE, 38 SECONDS EAST ALONG SAID CENTERLINE, 14 00 FEET TO THE WESTERLY EXTENSION OF THE NORTH LINE OF LOT 37 IN THE AFORESAID JOHN F. IRWIN'S SUBDIVISION, THENCE SOUTH 89 DEGREES, 45 MINUTES, 33 SECONDS EAST ALONG THE NORTH LINE AND THE WESTERLY AND EASTERLY EXTENSION THEREOF OF SAID LOT 37, A DISTANCE OF125.357 FEET TO THE CENTERLINE OF VACATED SOUTH NORMAL AVENUE (SEWARD STREET), THENCE NORTH 00 DEGREE, 01 MINUTE, 50 SECONDS WEST ALONG SAID
CENTERLINE, 14.00 FEET TO THE EASTERLY EXTENSION OF THE AFORESAID CENTERLINE OF VACATED ALLEY LYING SOUTH OF AND ADJOINING THE AFORESAID LOTS 1 TO 5; THENCE NORTH 89 DEGREES, 45 MINUTES, 33 SECONDS WEST, ALONG SAID EASTERLY EXTENSION 87.00 FEET; THENCE NORTH 32 DEGREES, 24 MINUTES, 33 SECONDS WEST, 155.91 FEET TO THE PLACE OF BEGINNING, EXCEPTING FROM THE AFORESAID LOTS 37 AND 38, BOTH INCLUSIVE; THE VACATED ALLEY NORTH OF AND ADJOINING SAID LOT 37; THE WEST 1/2 OF VACATED NORMAL AVENUE, LYING EAST OF AND ADJOINING LOTS 37 AND 38 AND THE VACATED ALLEY LYING NORTH OF AND ADJOINING LOT 37, THAT PART THEREOF FALLING IN THE FOLLOWING DESCRIBED PARCEL OF LAND: BEGINNING AT THE INTERSECTION OF THE CENTERLINE OF VACATED SOUTH NORMAL AVENUE (SEWARD STREET) AND A LINE LYING 14.0 FEET NORTH OF AND PARALLEL WITH THE NORTH LINE OF SAID LOT 37; THENCE NORTH 89 DEGREES, 57 MINUTES, 47 SECONDS WEST ALONG SAID PARALLEL, A DISTANCE OF 60.32 FEET; THENCE SOUTH 00 DEGREE, 14 MINUTES, 44 SECONDS EAST ALONG A LINE PARALLEL WITH SAID CENTERLINE OF SOUTH NORMAL AVENUE, A DISTANCE OF 14.00 FEET TO THE NORTH LINE OF SAID LOT 37; THENCE SOUTH 45 DEGREES, 06 MINUTES, 15 SECONDS EAST, A DISTANCE OF 71.34 FEET TO A POINT ON A LINE, 10.0 FEET EAST OF AND PARALLEL WITH THE WEST LINE OF VACATED SOUTH NORMAL AVENUE; THENCE SOUTH 89 DEGREES, 57 MINUTES, 47 SECONDS EAST ALONG A LINE PARALLEL WITH THE NORTH LINE OF SAID LOT 37, A DISTANCE OF 10.00 FEET TO THE CENTERLINE OF SAID VACATED SOUTH NORMAL AVENUE: THENCE NORTH 00 DEGREES, 14 MINUTES, 44 SECONDS WEST ALONG SAID CENTERLINE, A DISTANCE OF 64.32 FEET TO THE POINT OF THE BEGINNING, IN COOK COUNTY, ILLINOIS.
Permanent Real Estate Tax Index Numbers (PINS) for the Subject Property:
17-21-307-083-0000 (partial) 17-21-307-084-0000 (partial) 17-21-307-090-0000 17-21-307-091-0000 17-21-307-092-0000
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