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This record contains private information, which has been redacted from public viewing.
Record #: R2017-499   
Type: Resolution Status: Adopted
Intro date: 6/28/2017 Current Controlling Legislative Body: Committee on Economic, Capital and Technology Development
Final action: 7/26/2017
Title: Support of Class 6(b) tax incentive for property at 1929-1937 W Walnut St
Sponsors: Burnett, Jr., Walter
Topic: TAX INCENTIVES - Class 6(b)
Attachments: 1. R2017-499.pdf
RESOLUTION
,^yr. CLASS 6(B) REAL ESTATE TAX INCENTIVE
X FOR THE BENEFIT OF
SKVARIL, LLC, AN ILLINOIS LIMITED LIABILITY COMPANY, AND REAL ESTATE LOCATED GENERALLY AT 1929-37 WEST WALNUT STREET IN CHICAGO, ILLINOIS PURSUANT TO COOK COUNTY, ILLINOIS TAX INCENTIVE ORDINANCE, CLASSIFICATION SYSTEM FOR ASSESSMENT

WHEREAS, the Cook County Board of Commissioners has enacted the Cook County Tax Incentive Ordinance, Classification System for Assessment, as amended from time to time (the "County 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, Illinois and which is used primarily for industrial purposes; and

WHEREAS, the City of Chicago (the "City"), consistent with the County 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, Skvaril, LLC, an Illinois limited liability company (the "Applicant"), owns certain real estate located generally at 1929-37 West Walnut Street, Chicago, Illinois 60612, as further described on Exhibit A hereto (the "Subject Property"); and

WHEREAS, the Applicant intends to rehabilitate an approximately 3,600 square foot industrial facility and construct an approximately 5,600 square foot industrial facility located on the Subject Property; and

WHEREAS, Production Craft, Inc., an Illinois corporation, plans to lease the entire Subject Property for video production; and

WHEREAS, the redevelopment objective of the City in connection with the Subject Property is to retain Production Craft, I no's operations within the City of Chicago, create new jobs and attract investment; and
WHEREAS, the Applicant has filed an eligibility application for a Class 6(b) tax incentive under the County Ordinance with the Office of the Assessor of Cook County (the "Assessor"); and
WHEREAS, the Subject Property is located within the ...

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