Office of the City Clerk - Record #: O2021-5294

• Record #: O2021-5294
• Type: Ordinance
• Status: Passed
• Intro date: 11/17/2021
• Current Controlling Legislative Body: Committee on Economic, Capital and Technology Development
• Final action: 12/15/2021
• Title: Support for renewal of Class 6(b) tax incentive for property at 815 W Pershing Rd
• Sponsors: Lightfoot, Lori E.
• Topic: TAX INCENTIVES - Class 6(b)

Date	Journal Page Number	Action By	Action	Result
12/15/2021	42354	City Council	Passed	Pass
12/8/2021		Committee on Economic, Capital and Technology Development	Recommended to Pass
11/17/2021	40942	City Council	Referred

OFFICE OF THE MAYOR
CITY OF CHICAGO
LORI E. LIGHTFOOT MAYOR
November 17, 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 favorable tax status for specified properties located in the City.

Your favorable consideration of these ordinances will be appreciated.


Very truly yours.

ayor
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, and which is used primarily for industrial purposes; and

WHEREAS, the City, consistent with the County 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, GFP Alliance Chicago, LLC, a Colorado limited liability company (the "Applicant"), is the owner of certain real estate located generally at 815 W. Pershing Road, Chicago, Illinois 60609 as further described on Exhibit A hereto (the "Subject Property"); and
WHEREAS, The Subject Property was acquired by Halsted Pershing Morgan, LLC, a Delaware limited liability company (the "Original Applicant") sometime prior to October 8, 2008 and thereafter, Original Applicant constructed a 104,000 square foot industrial facility on the Subject Property; and
WHEREAS, on October 8, 2008, the City Council of the City adopted a resolution supporting and co...