RESOLUTION CLASS 6(B) REAL ESTATE TAX INCENTIVE FOR THE BENEFIT OF HRE CRAWFORD, LLC, A DELAWARE LIMITED LIABILITY COMPANY, AND REAL ESTATE LOCATED GENERALLY AT 3400 AND 3501 SOUTH HAMLIN AVENUE, 3501 AND 3655 SOUTH PULASKI ROAD, AND 3500 SOUTH CENTRAL PARK AVENUE 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, Illinois 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 and expand in the City by supporting financial incentives in the form of property tax relief; and
WHEREAS, HRE Crawford, LLC, a Delaware limited liability company (the "Applicant"), owns certain real estate located generally at 3400 and 3501 S. Hamlin Ave, 3501 and 3655 S. Pulaski Rd, and 3500 S. Central Park Ave, Chicago, Illinois 60623, as further described on Exhibit A hereto (the "Subject Property"); and
WHEREAS, the Applicant intends to demolish existing structures, conduct environmental remediation and construct an approximately 1,054,852 square foot industrial facility on the Subject Property; and
WHEREAS, the redevelopment objective of the City in connection with the Subject Property is development ofthe Applicant's operations within the City, creating new jobs and attracting investment; and
WHEREAS, it is intended that the Applicant will lease the Subject Property to several tenants in the businesses of warehousing, distribution, e-commerce and fulfillment operations; and
WHEREAS, the Applicant has filed an eligibility application fo...
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