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This record contains private information, which has been redacted from public viewing.
Record #: R2017-209   
Type: Resolution Status: Adopted
Intro date: 3/29/2017 Current Controlling Legislative Body: Committee on Economic, Capital and Technology Development
Final action: 4/19/2017
Title: Support of Class 6(b) tax incentive for property at 1455 W Willow St
Sponsors: Hopkins, Brian
Topic: TAX INCENTIVES - Class 6(b)
Attachments: 1. R2017-209.pdf
RESOLUTION FOR RENEWAL OF CLASS 6(B) REAL ESTATE TAX INCENTIVE FOR THE BENEFIT OF 1455 WILLOW ADVENTURES LLC, AND REAL ESTATE LOCATED GENERALLY AT 1455 WEST WILLOW 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, expand and remain in the City by supporting financial incentives in the form of property tax relief; and

WHEREAS, 1455 Willow Adventures LLC, an Illinois limited liability company (the "Applicant"), is the owner of certain real estate located generally at 1455 West Willow Street, Chicago, Illinois 60622 as further described on Exhibit A hereto (the "Subject Property") and has substantially rehabilitated an approximately 28,600 square foot industrial facility thereon; and

WHEREAS, on July 31, 1996 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 1996; and

WHEREAS, on November 5, 2003, 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 (the "First Renewal"); and

WHEREAS, the Assessor granted the First Renewal; and


WHEREAS, the Applicant has filed an application for an additional renewal of the Class 6(b) classification wi...

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