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Record #: R2019-234   
Type: Resolution Status: Adopted
Intro date: 4/10/2019 Current Controlling Legislative Body: Committee on Economic, Capital and Technology Development
Final action: 6/12/2019
Title: Support of Class 6(b) tax incentive for property at 4150 N Knox Ave
Sponsors: Arena, John
Topic: TAX INCENTIVES - Class 6(b)
Attachments: 1. R2019-234.pdf, 2. R2019-234 (V1).pdf

RESOLUTION

 

CLASS 6(B) REAL ESTATE TAX INCENTIVE FOR THE BENEFIT OF EWA CHICAGO, LLC, A DELAWARE LIMITED LIABILITY COMPANY, AND REAL ESTATE LOCATED GENERALLY AT 4150 NORTH KNOX 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, EWA Chicago, LLC, a Delaware limited liability company (the "Applicant"), owns certain real estate located generally at 4150 North Knox Avenue, Chicago, Illinois 60641, as further described on Exhibit A hereto (the "Subject Property"); and

 

WHEREAS, the Applicant intends to construct an approximately 40,813 square foot industrial facility located on the Subject Property; and

 

WHEREAS, the redevelopment objective of the City in connection with the Subject Property is to support the construction of an industrial facility and create new jobs; and -

 

WHEREAS, the Applicant has filed an eligibility application for a Class 6(b) tax incentive under the County Ordinance with the Office of the Assessor of Cook County (the "Assessor"); and

 

WHEREAS, the Subject Property is located within (i) the City of Chicago Enterprise Zone No. 4 (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 (ii) the Knox Industrial Corridor Redevelopment Project Area (created pursuant to the Illinois Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et. seg., as amended, and pursuant to an ordinance enacted by the City Council of the City), and the purposes of the Enterprise Zones and the Redevelopment Project Areas 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) eligibility application with the Assessor, the applicant must obtain from the municipality in

 

 

which such real estate that is proposed for Class 6(b) designation is located a resolution expressly stating, among other things, that the municipality has determined that the incentive provided by Class 6(b) is necessary for development to occur on such real estate and that the municipality supports and consents to the Class 6(b) classification by the Assessor; and

 

WHEREAS, the intended use of the Subject Property will provide significant present and future employment; and

 

WHEREAS, notwithstanding the Class 6(b) status of the Subject Property, the redevelopment and utilization thereof will generate significant new revenues to the City in the form of additional real estate taxes and other tax revenues; now, therefore,

 

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

 

SECTION 1: That the City determines that the incentive provided by Class 6(b) is necessary for the development to occur on the Subject Property.

 

SECTION 2: That the City supports and consents to the Class 6(b) classification by the Assessor 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) eligibility application filed with the Assessor by the Applicant, as applicant, in accordance with the County Ordinance.

 

EXHIBIT A

 

 

LEGAL DESCRIPTION:

 

PARCEL 1:

 

THAT PART OF LOT 3 IN THE MONTROSE MANUFACTURING DISTRICT AND OWNERS DIVISION OF PART OF WEST V2 OF THE SOUTHWEST lA OF SECTION 15, TOWNSHIP 40 NORTH, RANGE 13 EAST OF THE THIRD PRINCIPAL MERIDIAN, DESCRIBED AS FOLLOWS:

 

BEGINNING AT A POINT ON THE WESTERLY LINE OF NORTH KNOX AVENUE WHICH IS 745 FEET SOUTHEASTERLY.FROM THE NORTHEASTERLY CORNER OF SAID LOT 3; THENCE SOUTHEASTWARDLY ALONG THE WESTERLY LINE OF SAID NORTH KNOX AVENUE A DISTANCE OF 513 FEET TO THE INTERSECTION OF SAID WESTERLY LINE OF NORTH KNOX AVENUE WITH THE SOUTH LINE OF THE NORTHERLY 1,258 FEET OF SAID LOT 3; THENCE SOUTH WESTWARDLY ALONG SAID LAST MENTIONED SOUTHERLY LINE A DISTANCE OF 136 FEET TO WESTERLY LINE OF SAID LOT 3; THENCE NORTHWESTERLY ALONG WESTERLY LINE OF SAID LOT 3, A DISTANCE OF 453 FEET; THENCE NORTH WESTWARDLY A DISTANCE OF 60.30 FEET TO A POINT 6 FEET (MEASURED AT RIGHT ANGLES) NORTHEASTERLY FROM SOUTHWESTERLY LINE OF SAID LOT 3 AND ON A LINE EXTENDING SOUTH WESTWARDLY AT RIGHT ANGLES TO SAID WESTERLY LINE OF NORTH KNOX AVENUE OUT OF THE PLACE OF BEGINNING OF THIS DESCRIPTION AND THENCE NORTH EASTERLY ALONG THE LAST ABOVE MENTIONED RIGHT ANGLE LINE A DISTANCE OF 130 FEET TO THE PLACE OF BEGINNING (EXCEPT THE SOUTHEASTERLY 162.00 FEET THEREOF) IN COOK COUNTY, ILLINOIS

 

PARCEL 2:

 

THE SOUTHEASTERLY 162 FEET OF A PARCEL OF LAND DESCRIBED AS FOLLOWS:

 

THAT PART OF LOT 3 IN THE MONTROSE MANUFACTURING DISTRICT AND OWNERS DIVISION OF PART OF THE WEST lA OF THE SOUTHWEST % OF SECTION 15, TOWNSHIP 40 NORTH, RANGE 13 EAST OF THE THIRD PRINCIPAL MERIDIAN, DESCRIBED AS FOLLOWS: BEGINNING AT A POINT ON THE WESTERLY LINE OF NORTH KNOX AVENUE WHICH IS 745 FEET SOUTHEASTERLY FROM THE NORTHEASTERLY CORNER OF SAID LOT 3; THEN SOUTHWARDLY ALONG THE WESTERLY LINE OF SAID NORTH KNOX AVENUE A DISTANCE OF 513 FEET TO THE INTERSECTION OF SAID WESTERLY LINE OF NORTH KNOX AVENUE WITH THE SOUTH LINE OF THE NORTHERLY 1,258 FEET OF SAID LOT 3; THENCE

 

 

SOUTH WESTWARDLY ALONG SAID LAST MENTIONED SOUTHERLY LINE A DISTANCE OF 136 FEET TO WESTERLY LINE OF SAID LOT 3: THENCE NORTHWESTERLY ALONG WESTERLY LINE OF SAID LOT 3, A DISTANCE OF 453 FEET; THENCE NORTH WESTWARDLY A DISTANCE OF 60.30 FEET TO A POINT 6 FEET (MEASURED AT RIGHT ANGLES) NORTHEASTERLY FROM SOUTHWESTERLY LINE OF SAID LOT 3 AND ON A LINE EXTENDING SOUTH WESTWARDLY AT RIGHT ANGLES TO SAID WESTERLY LINE OF NORTH KNOX AVENUE OUT TO THE PLACE OF BEGINNING OF THIS DESCRIPTION AND THENCE NORTHEASTWARDLY ALONG THE LAST ABOVE MENTIONED RIGHT ANGLE LINE A DISTANCE OF 130 FEET TO THE PLACE OF BEGINNING IN COOK COUNTY, ILLINOIS.

 

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

13-15-306-030-0000 13-15-306-034-0000

 

Alderman, 36th Ward 6934 West Diversey Avenue Chicago, Illinois 60707 ward36gcityofch icago.org (773) 745-4636

GILBERT V1LLEGAS CITY COUNCIL

City of Chicago

Council Chamber

City Hall - 2nd Floor 121 North LaSalle Street Chicago, Illinois 60802

COMMITEE CHAIRMAN

ECONOMIC, CAPITAL, AMD TECHNOLOGY DEVELOPMENT

COMMITEE VICE CHAIRMAN CaMMITTKKS AND RUl.CS

COMMITEE MEMBERSHIPS ZONING, LANDMARKS, AND BUILOING STANDARDS

UUOCCT AND GOVERNMENT OPERATIONS CONTRACTING OVERSIGHT AND COUALITY LICENSE AND CONSUMER PROTECTION WOllKFdHCI! DflvliLOPM ENT AVIATION FINANCE

 

 

 

 

June 12, 2019

 

To the President and Members of the City Council:

 

Your Committee on Economic, Capital and Technology Development, for which a meeting was held on May 15th, 2019, having had under consideration four items: R2019-235 Support of a Class 6(b) tax incentive for property at 1000 E 111th Street, introduced at the April 10th, 2019 City Council meeting by Alderman Beale. This recommendation was concurred in a voice vote of all committee members present, with no dissenting votes. R2019-236 Support of Class 6(b) tax incentive for property at 1556 W 43rd Street, introduced at the April 10th, 2019 City Council meeting by Alderman Thompson. This recommendation was concurred in a voice vote of all committee members present, with no dissenting votes. R2019-233 Support of Class 6(b) tax incentive for property at 4250 W 36th Street, introduced at the April 10th, 2019 City Council meeting by Alderman Munoz. This recommendation was concurred in a voice vote of all committee members present, with no dissenting votes. R2019-234 Support of Class 6(b) tax incentive for property at 4150 N Knox Ave, introduced at the April 10th, 2019 meeting by Alderman Arena. This recommendation was concurred in a voice vote of all committee members present, with no dissenting votes.

Gilbert Villegas, Chairman

Committee on Economic, Capital and Technology Development

WWW.36THWARD.ORG

Respectfully submitted,

 

 

Approved Approved

 

Mayo^J *

Corporation Counsel

 

DATED:.

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