OFFICE OF THE MAYOR
CITY OF CHICAGO
LORI E. LIGHTFOOT
MAYOR
February 24,2021
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 ordinances authorizing a Class 6B property tax status for properties located at 1100 W. 37th Street and 4616-4624 W. Superior.
Your favorable consideration of these ordinances 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 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, Tara Management Co., a Delaware corporation (the "Applicant"), owns certain real estate located generally at 1100 West 37th St, Chicago, Illinois 60609, as further described on Exhibit A hereto (the "Subject Property"); and
WHEREAS, the Applicant intends to re-occupy and substantially rehabilitate an approximately 17,235 square foot industrial facility located on the Subject Property that had been vacant for more than two years prior to the Applicant's purchase; 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 ...
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