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This record contains private information, which has been redacted from public viewing.
Record #: O2021-453   
Type: Ordinance Status: Passed
Intro date: 1/27/2021 Current Controlling Legislative Body: Committee on Economic, Capital and Technology Development
Final action: 2/26/2021
Title: Support of Class 6(b) tax incentive for property at 1321 W 119th St
Sponsors: Lightfoot, Lori E.
Topic: TAX INCENTIVES - Class 6(b)
Attachments: 1. O2021-453.pdf


OFFICE OF THE MAYOR
CITY OF CHICAGO
LORI E. LIGHTFOOT
MAYOR


January 27, 2021










TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO


Ladies and Gentlemen:

At the request ofthe Commissioner of Planning and Development, I transmit herewith an ordinance authorizing a Class 6B tax status for property located at 1321 West 119th Street.

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 ofthe 1970 Constitution ofthe State of Illinois 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 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 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, Pullman Huron Investments, Inc., a Delaware corporation (the "Applicant"), owns certain real estate located generally at 1321 West 119th Street, Chicago, Illinois 60643, as further described on Exhibit A hereto (the "Subject Property"); and
WHEREAS, the Applicant has constructed an approximately 68,000 square foot addition to an existing 60,000 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 create new jobs and increase the City's tax base through the construction and occupancy of the additional space in the existing industria...

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