The City Council has approved support for a Class 6(b) tax incentive for the property located at 4500 W Chicago Ave. This tax incentive is aimed at promoting industrial development and revitalization of the property by offering reduced property taxes, which will encourage job creation and economic growth in the community.
This tax incentive is crucial for fostering industrial growth, creating jobs, and revitalizing underutilized areas. It supports Chicago's broader economic development goals by encouraging sustainable growth and investment in key industrial areas.