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This record contains private information, which has been redacted from public viewing.
Record #: O2022-1280   
Type: Ordinance Status: Passed
Intro date: 4/27/2022 Current Controlling Legislative Body: Committee on Economic, Capital and Technology Development
Final action: 5/23/2022
Title: Support of Class 6(b) tax incentive renewal for property at 3125 S Kolin Ave
Sponsors: Lightfoot, Lori E.
Topic: TAX INCENTIVES - Class 6(b)
Attachments: 1. O2022-1280.pdf



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

April 27, 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 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 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, Modern Process Equipment, Inc., an Illinois corporation ("Applicant"), is the owner of certain real estate located generally at 3125 South Kolin Avenue, Chicago, Illinois 60623, as further described on Exhibit A hereto (the "Subject Property") and plans to substantially rehabilitate an approximately 61,617 square foot industrial facility thereon; and

WHEREAS, on October 5, 2011, the City Council of the City enacted a resolution supporting and consenting to the Class 6b classification of the Subject Property by the Office of the Assessor of Cook County (the "Assessor"); and

WHEREAS, the Assessor granted the Class 6b tax incentive in connection with the Subject Pr...

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