RESOLUTION FOR RENEWAL OF CLASS 6(B) REAL ESTATE TAX INCENTIVE FOR THE BENEFIT OF PULLMAN-HURON INVESTMENTS, INC., A DELAWARE CORPORATION AND REAL ESTATE LOCATED GENERALLY AT 1321 WEST 119™ 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 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, expand and remain in the City by supporting financial incentives in the form of property tax relief; and
WHEREAS, Pullman-Huron Investments, a Delaware corporation (the "Applicant"), is the owner of certain real estate located generally at 1321 West 119th Street, Chicago, Illinois 60612 as further described on Exhibit A hereto (the "Subject Property") and has constructed an approximately 60,000 square foot industrial facility in thereon for the manufacturing and distributing of commercial plumbing products; and
WHEREAS, on October 6, 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 2006; and
WHEREAS, the Applicant has filed an application for renewal of the Class 6(b) classification with the Assessor pursuant to the County Ordinance; and
WHEREAS, it is the responsibility of the Assessor to determine that an application for a Class 6(b) classification or renewal of...
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