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This record contains private information, which has been redacted from public viewing.
Record #: O2021-4715   
Type: Ordinance Status: Passed
Intro date: 10/14/2021 Current Controlling Legislative Body: Committee on Economic, Capital and Technology Development
Final action: 10/27/2021
Title: Support of Class 6(b) tax incentive for property generally at 3900 S Normal Ave including 3926, 3940 S Normal Ave, 525, 547 and 559 W Pershing Rd, and 3937, 3947, 3955 S Wallace Ave for construction of multi-tenant industrial facility
Sponsors: Lightfoot, Lori E.
Topic: AGREEMENTS - Redevelopment, - TAX INCENTIVES - Class 6(b)
Attachments: 1. O2021-4715.pdf

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

October 14,2021










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 an ordinance authorizing a favorable tax status for property located at 3900 South Normal Avenue.

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, 3900 S. Normal TMG, LLC, an Illinois limited liability company (the "Applicant"), owns certain real estate located generally at 3900 S. Normal Avenue Chicago, Illinois 60609, as further described on Exhibit A hereto (the "Subject Property"); and
WHEREAS, the Applicant intends to construct an approximately 169,838 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 eliminate a vacant property and return it to productive use, create jobs, and provide a positive net benefit to the taxing districts; and
WHEREAS, it is intended that...

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