Office of the City Clerk - Record #: O2018-9201

• Record #: O2018-9201
• Type: Ordinance
• Status: Passed
• Intro date: 11/14/2018
• Current Controlling Legislative Body: Committee on Finance
• Final action: 12/12/2018
• Title: Support of Class L tax incentive for property at 201-209 S Ashland Ave
• Sponsors: Emanuel, Rahm
• Topic: TAX INCENTIVES - Class L

Date	Journal Page Number	Action By	Action	Result
12/19/2018		Office of the Mayor	Signed by Mayor
12/12/2018	91656	City Council	Passed	Pass
12/11/2018		Committee on Finance	Recommended to Pass
11/14/2018	89689	City Council	Referred

OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
November 14. 2018










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


Ladies and Gentlemen:

At the request ofthe Commissioner of Planning and Development, 1 transmit herewith ordinance authorizing Class L tax status for property located at 201-209 South Ashland.

Your favorable consideration of this ordinance will be appreciated.
Mayor


Very truly yours,


CHICAGO December 12. 2018


i
To the President and Members of the City Council:

Your Committee on Finance having had under consideration an ordinance authorizing the approval of a Class L Real Estate Tax Incentive Classification for property located at 201-209 South Ashland Avenue for 201 South Ashland LLC.

02018-9201











Having had the same under advisement, begs leave to report and recommend that your Honorable Body pass the proposed Ordinance Transmitted Herewith.

This recommendation was concurred in by (am\a voce vote^)
of members of the committee with dissenting vote(s)7

Chairman


Respectfully submitted
Document No.




REPORT OF THE COMMITTEE ON FINANCE TO THE CITY COUNCIL CITY OF CHICAGO
ORDINANCE



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

WHEREAS, the Cook County Board of Commissioners has enacted the Tax Incentive Ordinance, Classification System for Assessment, as amended from time to time (the "County Ordinance"), which establishes the Class L property tax classification to encourage the preservation and rehabilitation of certain historically and architecturally significant buildings, which will enhance the general character of real estate in the county and contribute to the economic well-being of the county by increasing the level of economic activity, increasing employment opportunities and contri...