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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 consenting to the renewal of 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 renewal of the Class 6(b) tax incentive in connection with the Subject Property in 2007; and

 

WHEREAS, the Applicant has filed an application for another renewal of the Class 6(b) classification with the Assessor pursuant to the County Ordinance; and

 

WHEREAS, the Subject Property is located within the City of Chicago Enterprise Zone No. 3 (created pursuant to the Illinois Enterprise Zone Act, 20 ILCS 665/1 et seq as amended, and pursuant to an ordinance enacted by the City Council of the City, as amended), and the

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purposes of the Enterprise Zones are also to provide certain incentives in order to stimulate economic activity and to revitalize depressed areas; and

 

WHEREAS, it is the responsibility of the Assessor to determine that an application for a Class 6(b) classification or renewal of a Class 6(b) classification is eligible pursuant to the County Ordinance; and

 

WHEREAS, the County Ordinance requires that, in connection with the filing of a Class 6(b) renewal application with the Assessor, an applicant must obtain from the municipality in .which such real estate is located a resolution expressly stating, among other things, that the municipality has determined that the industrial use of the property is necessary and beneficial to the local economy and that the municipality supports and consents to the renewal of the Class 6(b) classification; now therefore,

 

BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:

 

SECTION 1: That the City determines that the industrial use of the Subject Property is necessary and beneficial to the local economy in which the Subject Property is located.

 

SECTION 2: That the City supports and consents to the renewal of the Class 6(b) classification with respect to the Subject Property.

 

SECTION 3: That the Economic Disclosure Statement, as defined in the County Ordinance, has been received and filed by the City.

 

SECTION 4: That the Clerk of the City of Chicago is authorized to and shall send a certified copy of this resolution to the Assessor, and a certified copy of this resolution may be included with the Class 6(b) renewal application filed with the Assessor by the Applicant, as applicant, in accordance with the County Ordinance.

 

SECTION 5:  That this resolution shall be effective immediately upon its passage and approval.

riQCiefable Anthony Beale Alderman, 9th Ward

 

 

 

 

 

 

 

 

 

 

 

 

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EXHIBIT A

 

 

Legal Description of Subject Property:

 

LOTS 1 AND 2; ALSO THAT PART OF LOT 3 DESCRIBED AS FOLLOWS:

 

COMMENCING AT THE NORTHWEST CORNER OF SAID LOT 3; THENCE SOUTH ALONG THE WEST LINE OF SAID LOT 3, A DISTANCE OF 196.21 FEET; THENCE EAST ALONG A LINE PARALLEL WITH THE NORTH LINE OF SAID LOT 3, TO A POINT 66 FEET WEST OF AND MEASURED AT RIGHT ANGLES TO THE EASTERLY LINE OF SAID LOT 3; THENCE NORTHEASTERLY ALONG A LINE PARALLEL WITH THE EASTERLY LINE OF SAID LOT 3, TO THE NORTH LINE OF SAID LOT 3; THENCE WEST ALONG THE NORTH LINE OF SAID LOT 3 TO THE POINT OF BEGINNING.

 

ALSO THE NORTH 196.21 FEET OF LOT 4; ALSO THAT PART OF VACATED EAST 107th STREET SOUTH OF AND ADJOINING SAID LOTS 1 AND 2 AND NORTH OF AND ADJOINING SAID LOTS 3 AND 4 WHICH LIES EAST OF THE WEST LINE, EXTENDED SOUTH, OF SAID LOT 1 AND WESTERLY OF A LINE 66 FEET WESTERLY OF, MEASURED AT RIGHT ANGLES TO THE EASTERLY LINE (EXTENDED SOUTHERLY) OF LOT 2; ALL IN ENJAY CONSTRUCTION COMPANY'S PULLMAN INDUSTRIAL DISTRICT, BEING A SUBDIVISION OF PARTS OF THE WEST V2 OF SECTION 14 AND THE EAST Y2 OF SECTION 15, TOWNSHIP 37 NORTH, RANGE 14 EAST OF THE THIRD PRINCIPAL MERIDIAN, IN COOK COUNTY, ILLINOIS.

 

 

 

Permanent Real Estate Tax Index Numbers (PINS) for the Subject Property:

25-15-229-004-0000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Approved

Approved