Quantcast

Chicago City Wire

Monday, June 17, 2024

Mayor proposes tax break for new city recycling facility

Webp gbcyk3mwe4be0pk0upyzm227qvaq

Ciere Boatright commissioner of the Chicago Department of Planning and Development (DPD) | LinkedIn

Ciere Boatright commissioner of the Chicago Department of Planning and Development (DPD) | LinkedIn

Lakeshore Recycling Systems LLC’s recently completed $53.5 million recycling facility in New City would receive a Cook County Class C property tax incentive through a proposal introduced to City Council today by Mayor Brandon Johnson. The 139,496-square-foot complex at 4121 S. Packers Ave. was completed in March 2023 following $1 million in environmental remediation work. The facility employs more than 700 full- and part-time workers.

The incentive would reduce taxes on the property by $3.4 million over the 12-year term. The Cook County Class C property tax incentive is intended to facilitate commercial and industrial investment on properties that have substantial environmental contamination.

MORE NEWS