Share to Facebook Share to Twitter Bookmark and Share
This record contains private information, which has been redacted from public viewing.
Record #: O2021-3260   
Type: Ordinance Status: Passed
Intro date: 7/21/2021 Current Controlling Legislative Body: Committee on Economic, Capital and Technology Development
Final action: 9/14/2021
Title: Support of Class 6(b) tax incentive for redevelopment of property at 2419 W George St
Sponsors: Lightfoot, Lori E.
Topic: TAX INCENTIVES - Class 6(b)
Attachments: 1. O2021-3260.pdf
or-


"Vi



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

July 21, 2021










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


Ladies and Gentlemen:

At the request ofthe Commissioner of Planning and Development, I transmit herewith ordinances authorizing a favorable tax 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 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, 2419 West George, LLC, an Illinois limited liability company (the "Applicant") intends to purchase certain real estate located generally at 2419 West George Street, Chicago, Illinois 60618, as further described on Exhibit A hereto (the "Subject Property"); and

WHEREAS, the Subject Property has been vacant and abandoned since May 27, 2021;
and

WHEREAS, the City's Department of Planning and Development ("DPD") has determined that the Subject Property contains numerous depressed conditions that continue to impede the development of the property (the "Special Circumstances") which DPD has determined justify a finding that the Subject Property is abandon...

Click here for full text