File #: 24-5661    Version: 1 Name: FREEDMAN SEATING COMPANY
Type: Resolution (Class 6B) Purchase for Value Status: Approved
File created: 10/3/2024 In control: Business and Economic Development Committee
On agenda: 10/24/2024 Final action: 11/21/2024
Title: PROPOSED RESOLUTION Freedman Seating Company 6B PROPERTY TAX INCENTIVE REQUEST WHEREAS, the Cook County Bureau of Economic Development received and reviewed a Real Property Assessment Classification 6b application containing the following information: Applicant: Freedman Seating Company Address: 4500 W. Chicago Avenue, Chicago, Illinois Municipality or Unincorporated Township: City of Chicago Cook County District: 1st District Permanent Index Number: 16-03-316-014-0000;16-03-317-003-0000; 16-03-317-004-0000; 16-03-320-004-0000 and 16-03-320-007-0000 Municipal Resolution Number: City of Chicago, Ordinance No. 020224-0010112 Number of month property vacant/abandoned: 14 days vacant Special circumstances justification requested: Yes Proposed use of property: Industrial use - warehousing, manufacturing, and/or distribution Living Wage Ordinance Compliance Affidavit Provided: Yes WHEREAS, the Cook County Board of Commissioners has adopted a Real Property Assessment C...
Sponsors: TONI PRECKWINKLE (President), TARA S. STAMPS
title
PROPOSED RESOLUTION

Freedman Seating Company 6B PROPERTY TAX INCENTIVE REQUEST

WHEREAS, the Cook County Bureau of Economic Development received and reviewed a Real Property Assessment Classification 6b application containing the following information:

Applicant: Freedman Seating Company

Address: 4500 W. Chicago Avenue, Chicago, Illinois

Municipality or Unincorporated Township: City of Chicago

Cook County District: 1st District

Permanent Index Number: 16-03-316-014-0000;16-03-317-003-0000; 16-03-317-004-0000; 16-03-320-004-0000 and 16-03-320-007-0000

Municipal Resolution Number: City of Chicago, Ordinance No. 020224-0010112

Number of month property vacant/abandoned: 14 days vacant

Special circumstances justification requested: Yes

Proposed use of property: Industrial use - warehousing, manufacturing, and/or distribution

Living Wage Ordinance Compliance Affidavit Provided: Yes

WHEREAS, the Cook County Board of Commissioners has adopted a Real Property Assessment Classification 6b that provides an applicant a reduction in the assessment level for an abandoned industrial facility; and

WHEREAS, the Cook County Classification System for Assessment defines abandoned property as buildings and other structures that, after having been vacant and unused for at least 24 continuous months, have been purchased for value by a purchaser in whom the seller has no direct financial interest; and

WHEREAS, in the instance where the property does not meet the definition of abandoned property, the municipality or the Board of Commissioners, may determine that special circumstances may exist that justify finding that the property is abandoned for purpose of Class 6b; and

WHEREAS, in the case of abandonment of less than 24 months and purchase for value, by a purchaser in whom the seller has no direct financial interest, the County may determine that special circumstances justify finding the property is deemed abandoned; and

WHEREAS, Class 6b requires the ...

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