OFFICE OF THE MAYOR
CITY OP CHICAGO
LOKl I- I1GHTH0O1
MAYOR
June 25,2021
TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO
Ladies and Gentlemen:
Af the request of (he Commissioner ofJ'Janning and Development, 1 transmit herewith ordinances authorizing a favorable lax status for specified properties located in the City.
Your favorable consideration of these ordinances will be appreciated.
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 Real Property Assessment Classification Ordinance, as amended from time to time (the "Classification 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 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, Great Central Properties II, LLC, an Illinois limited liability corporation (the "Applicant"), owns certain real estate located generally at 221 North Wood Street, Chicago, Illinois 60612 (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 the Applicant's individual owners are directly or indirectly responsible for creating the Contamination; and
WHEREAS, the Applicant has undertaken environmental remediation at the Subject Property and received...
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