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This record contains private information, which has been redacted from public viewing.
Record #: R2018-415   
Type: Resolution Status: Adopted
Intro date: 4/18/2018 Current Controlling Legislative Body: Committee on Economic, Capital and Technology Development
Final action: 5/25/2018
Title: Support of Class 6(b) tax incentive for property at 700 E 107th St
Sponsors: Beale, Anthony
Topic: TAX INCENTIVES - Class 6(b)
Attachments: 1. R2018-415.pdf, 2. R2018-415 (V1).pdf

resolutionVor renewal of class 6(b) real estate tax incentive for the benefit of b & b pullman properties, lp, and real estate located generally at 700 east 107th 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, B & B Pullman Properties, LP, an Illinois limited partnership (the "Applicant"), is the owner of certain real estate located generally at 700 East 107th Street, Chicago, Illinois 60628 as further described on Exhibit A hereto (the "Subject Property"); and

WHEREAS, four industrial buildings totaling approximately 279,149 square feet of space have been substantially rehabilitated on the Subject Property; and

WHEREAS, Dutch Farms, Inc., an Illinois corporation, leases the Subject Property to operate its various businesses manufacturing and distributing meats, cheese, eggs and food ingredients; and

WHEREAS, on November 4, 1998 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 initial Class 6(b) tax incentive in connection with the Subject Property in 1999; and

WHEREAS, on March 1, 2006, the City Council of the City enacted a resolution supporting and co...

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