Ordinance O2024-0012500
Active
Non-Routine
Ward Matters
Economic Development
Tax Incentives
Support of Class 6(b) tax incentive for property at 4655 W Arthington St
Auto-generated summary
K Town Business Centre 2, LLC, seeks a Class 6b classification for its planned 72,000 square foot industrial facility in the Chicago Empowerment Zone. The Assessor of Cook County will determine eligibility for the tax incentive under the Cook County Tax Incentive Ordinance. The City of Chicago supports the redevelopment, expecting significant new revenues. The City's Corporation Counsel and the Commissioner of DPD are authorized to negotiate a Redevelopment Agreement, effective immediately upon passage and approval.
Sponsors
| Sponsor | Ward | |
|---|---|---|
|
Johnson, BrandonPrimary Sponsor |
History
| Date | Legislative body | Action |
|---|---|---|
| Date 2024-09-18 | Legislative body Chicago City Council | Action Referred |
| Date 2024-09-18 | Legislative body Chicago City Council | Action Introduced |
Locations mentioned
Legislation text
Additional Documents
- O2024-0012500 EDS.pdf
- O2024-0012500 Exhibit A - Legal Description.pdf
- O2024-0012500 Exhibit B - Redevelopment Agreement.pdf
- O2024-0012500 Transmittal Letter.pdf