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This record contains private information, which has been redacted from public viewing.
Record #: R2019-693   
Type: Resolution Status: Adopted
Intro date: 9/18/2019 Current Controlling Legislative Body: Committee on Economic, Capital and Technology Development
Final action: 10/16/2019
Title: Support of Class 6(b) tax incentive for property at O'Hare Cargo Center, Building 837, Chicago O'Hare International Airport
Sponsors: Napolitano, Anthony V.
Topic: TAX INCENTIVES - Class 6(b)
Attachments: 1. R2019-693.pdf

RESOLUTION
CLASS 6(B) REAL ESTATE TAX INCENTIVE f^~C c7~>-
FOR THE BENEFIT OF AERO CHICAGO, LLC, ^ A DELAWARE LIMITED LIABILITY COMPANY, AND REAL ESTATE LOCATED GENERALLY AT O'HARE CARGO CENTER, BUILDING 837, CHICAGO O'HARE INTERNATIONAL AIRPORT 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, Aero ChicagOi LLC, a Delaware limited liability company (the "Applicant"), leases certain real estate located generally at O'Hare Cargo Center, Building 837, Chicago, Illinois 60666, at Chicago O'Hare International Airport (the "Airport"), which is owned and operated by the City, as further described on Exhibit A hereto (the "Subject Property"); and
WHEREAS, the Applicant has constructed an approximately 276,426 square foot industrial facility on the Subject Property which is the second phase of a development known as the Northeast Cargo Center at the Airport (the "Facility"); and
WHEREAS, the redevelopment objective of the City in connection with the Subject Property is to support the growth of the City's capacity to move cargo, create new jobs and increase the City's tax base through the construction of a new industrial facility on the Subject Property; and

WHEREAS, it is intended that the Applicant will use the Subject Property to operate a cargo center a...

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