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Record #: O2011-3366   
Type: Ordinance Status: Passed
Intro date: 4/13/2011 Current Controlling Legislative Body: Committee on Finance
Final action: 5/4/2011
Title: Support of Cook County Class C tax incentive for property at 4535 W Armitage Ave
Sponsors: Daley, Richard M.
Topic: TAX INCENTIVES - Class C
Attachments: 1. O2011-3366.pdf
OFFICE OF THE MAYOR
CITY OF CHICAGO
RICHARD M. DALEY
MAYOR
April 13,2011
TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO
Ladies and Gentlemen:
At the request of the Commissioner of Housing and Economic Development, I transmit herewith ordinances authorizing the establishment of Class C and Class L tax status.
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 Section6(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 Real Property Assessment Classification Ordinance, as amended from time to time (the "Classification Ordinance"), which provides for, among other things, real estate tax incentives to property owners who build, rehabilitate, enhance and occupy property which is located-yvithin Cook County and which is used primarily for industrial purposes; and
WHEREAS, the City, consistent with the Classification 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, 4545 W. Armitage, Inc., an Illinois corporation (the "Applicant"), is the owner of certain real estate located generally at 4535 West Armitage Avenue, Chicago, Illinois 60639 (the "Subject Property"), as described on Exhibit A hereto; and
WHEREAS, the Subject Property has undergone environmental testing and was found to contain certain adverse environmental conditions (the "Contamination"); and
WHEREAS, neither the Applicant nor the Applicant's individual owners are directly or indirectly responsible for creating the Contamination; and
WHEREAS, the Applicant has undertaken environmental remediation at the Subject Property and received a No Further Remediation Letter from the Illinois Env...

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