OFFICE OF THE MAYOR
CITY OF CHICAGO
LORI E. LIGHTFOOT
MAYOR
July 24, 2019
TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO
Ladies and Gentlemen:
At the request of the Commissioner of Planning and Development, I transmit herewith an ordinance authorizing a Class C tax status for property located at 3269/3325 N. California and 2727 W. Roscoe.
Your favorable consideration of this ordinance will be appreciated.
Very truly yours,
ORDINANCE
WHEREAS, the City of Chicago (the "City") is a home rule unit of government under Section 6(a), Article VII of the 1970 Constitution of the State of Illinois and is 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 Cook County Real Property Assessment Classification Ordinance, as amended from time to time (the "Classification Ordinance"), which provides for 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 or commercial purposes; and
WHEREAS, the City, consistent with the Classification 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, Meridian MV Chicago, LLC, a Texas limited liability company (the "Applicant"), owns certain real estate located generally at 3269 and 3325 N. California Avenue and 2727 W. Roscoe Street, Chicago, Illinois 60618 (the "Subject Property"), as described on Exhibit A hereto; and
WHEREAS, the Subject Property has undergone environmental testing and was found to contain certain adverse environmental conditions (the "Contamination"); and
WHEREAS, neither the Applicant nor ihe Applicant's owners are directiy or indirectly responsible for creating the Contamination; and
WHEREAS, the immediate prior owner of the Subject Proper...
Click here for full text