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This record contains private information, which has been redacted from public viewing.
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 Indust...

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