Office of the City Clerk - Record #: O2018-653

• Record #: O2018-653
• Type: Ordinance
• Status: Passed
• Intro date: 1/17/2018
• Current Controlling Legislative Body: Committee on Economic, Capital and Technology Development
• Final action: 2/28/2018
• Title: Support of Class 7(b) tax incentive for property at 10501 South Avenue C
• Sponsors: Emanuel, Rahm
• Topic: TAX INCENTIVES - Class 7(b)

Date	Journal Page Number	Action By	Action	Result
2/28/2018	66729	City Council	Passed	Pass
1/29/2018		Committee on Economic, Capital and Technology Development	Recommended to Pass
1/17/2018	64121	City Council	Referred

OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL,
mayor
January 17,2018










TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO


Ladies and Gentlemen:

At the request ofthe Commissioner of Planning and Development, I transmit herewith ordinance authorizing a Class 7B tax status for property located at 10501 South Avenue C.

Your favorable consideration of this ordinance will be appreciated.

Mayor


Very truly yours,
ORDINANCE


WHEREAS, the City of Chicago (the "City") is a home rule unit of government under Section 6(a), Article VII of the 1970 Constitution of the State of Illinois authorized to exercise any power and perform any function pertaining to its government and affairs; and

WHEREAS, pursuant to an ordinance adopted by the City Council of the City ("City Council"), the City established "Enterprise Zone 3" in accordance with the Illinois Enterprise Zone Act, 20 ILCS 665/1, et seq., finding, among other things, that Enterprise Zone 3 is a depressed area; and
WHEREAS, certain real estate generally located at 10501 S. Avenue C in the City, as more precisely described on Exhibit A attached hereto and hereby made a part hereof (the "Subject Property"), is located within the boundaries of Enterprise Zone 3; and

WHEREAS, the Subject Property is located within the Ewing Avenue Redevelopment Project Area designated by the City under the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et seq. pursuant to an ordinance published in the Journal of Proceedings of the City Council of the City (the "Journal") on March 10, 2010, as amended by an ordinance published in the Journal on September 8, 2010, and the purpose of such redevelopment project area is also to provide certain incentives in order to revitalize depressed areas; and
WHEREAS, Atwater Save-lt-AII 106th Street Self-Storage, LLC, an Illinois limited liability company ("Applicant"), proposes to rehabilitate the approximately 198,000 square foot Subject Property and redevelop it in...