RESOLUTION CLASS 6(B) REAL ESTATE TAX INCENTIVE FOR THE BENEFIT OF WMS GAMING INC., A DELAWARE CORPORATION, AND REAL ESTATE LOCATED GENERALLY AT 2704 WEST ROSCOE STREET AND 3401 NORTH CALIFORNIA STREET IN CHICAGO,
ILLINOIS
PURSUANT TO COOK COUNTY, ILLINOIS REAL PROPERTY ASSESSMENT CLASSIFICATION ORDINANCE
WHEREAS, the Cook County Board of Commissioners has enacted the Cook County Real Property Assessment Classification Ordinance, as amended from time to time (the "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 of Chicago (the "City"), consistent with the 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, Williams Electronics Games, Inc., a Delaware corporation and a wholly-owned subsidiary of WMS Industries Inc., a Delaware corporation ("WMS Industries"), owns certain real estate located generally at 2704 West Roscoe Street and 3401 North California Street, Chicago, Illinois 60618, as further described on Exhibit A hereto (the "Subject Property"); and
WHEREAS, WMS Gaming Inc., a Delaware corporation (the "Applicant"), and a wholly-owned subsidiary of WMS Industries, intends to use the Subject Property; and
WHEREAS, the Applicant intends to construct an approximately 120,000 square foot industrial facility located on the Subject Property; and
WHEREAS, the Applicant has filed with the Office of the Assessor of Cook County (the "Assessor") an eligibility application for a Class 6(b) tax incentive under the Ordinance; and
WHEREAS, the Subject Property is located within (i) the City of Chicago Enterprise Zone No. 4 (created pursuant to the Illinois Enterprise Zone Act, 20 ILCS 665/1 et seq as amended, and pursuant to an ordinance enacted by the City Counci...
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