Ordinance O2024-0007330 - Chicago Councilmatic

Support of Class L tax incentive for property at 465 W Cermak Rd

Auto-generated summary

The proposed Class L tax incentive ordinance for the historic Hoyt building, owned by 465 Cermak LLC, has been recommended by the Landmarks Commission and the Department of Planning and Development. The owner has applied for a Class L classification from the Office of the Assessor of Cook County, which could attract federal historic rehabilitation tax credits and meet the standards of the United States Department of the Interior. The project also aims to maximize opportunities for Minority and Women-owned Business Enterprises (M/WBEs), as monitored by the Committee on Economic, Capital and Technology Development.

	Sponsor	Ward
	Johnson, BrandonPrimary Sponsor

History

Date	Legislative body	Action
Date 2024-04-22	Legislative body Chicago City Council	Action Passed
Date 2024-04-09	Legislative body Committee on Economic, Capital and Technology Development	Action Recommended to Pass
Date 2024-01-24	Legislative body Chicago City Council	Action Referred
Date 2024-01-24	Legislative body Chicago City Council	Action Introduced

Locations mentioned

465 W Cermak Rd Chicago

Legislation text

Download PDF

Ordinance O2024-0007330 Passed

Auto-generated summary

Sponsors

History

Locations mentioned

Legislation text

Additional Documents

Tools