Office of the City Clerk - Record #: O2022-671

• Record #: O2022-671
• Type: Ordinance
• Status: Passed
• Intro date: 2/23/2022
• Current Controlling Legislative Body: Committee on Economic, Capital and Technology Development
• Final action: 3/23/2022
• Title: Support for renewal of Cook County Class 7(c) tax status for property at 10749-10801 S Western Ave
• Sponsors: Lightfoot, Lori E.
• Topic: TAX INCENTIVES - Class 7(c)

Date	Journal Page Number	Action By	Action	Result
3/23/2022	45593	City Council	Passed	Pass
3/21/2022		Committee on Economic, Capital and Technology Development	Recommended to Pass
2/23/2022	44219	City Council	Referred

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

February 23, 2022










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


Ladies and Gentlemen:

At the request ofthe Commissioner of Planning and Development, 1 transmit herewith a Class 7C renewal tax incentive for a property located at 10749 South Western 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 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 commercial 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, pursuant to an ordinance adopted by the City Council of the City ("City Council"), the City established "Western Avenue/Rock Island Redevelopment Project Area" in accordance with the Illinois Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et. seq., finding, among other things, that the Western Avenue/Rock Island Redevelopment Project Area is a depressed area; and
WHEREAS, CPMOK Properties, LLC, an Illinois limited liability company ("Applicant") in 2016 acquired certain real estate generally located at 10749-10801 South Western Avenue, Chicago Illinois 60643, as further described on Exhibit A attached hereto (the "Subject Prop...