Property tax incentives approved today by City Council will support a trio of industrial improvement projects on the Far South and Northwest sides.  

Mays Property Management Co. LLP, 875 E. 112th St.
The renewal of a Class 6(b) tax incentive on behalf of Pullman’s Mays Chemical Co. Inc. will support the continued operation of one of the country’s largest black-owned suppliers of chemicals and other ingredients to the cosmetics, food and beverage, and pharmaceutical industries. The original incentive, issued in 1994 and renewed in 2006, supported the construction of a 40,000-square-foot warehouse. The new renewal will support $900,000 in structural repairs. The estimated $135,000 in tax savings over the 12-year renewal period will help the company retain four existing jobs. Mays customers include Kellogg Co., Abbott Laboratories, Pfizer Inc., AbbVie, McCormick and Co., and Hidden Valley.

Meeting Tomorrow Properties LLC, 2901-19 W. Lawrence Ave.
A Class 6(b) incentive will support the $4.3 million rehabilitation of a three-story, 40,000-square-foot industrial building and an adjacent 8,500-square-foot building in Albany Park. The plan will reduce property taxes on the buildings by $528,000 over the next 12 years and enable a variety of structural and roof repairs. The owner, Meeting Tomorrow Properties, will relocate an affiliated audio-visual company from North Center to the complex, retaining 65 jobs and adding 25 new positions at the new location.

Quality Armatures Inc., 5255 W. Grand Ave.
A Class 6(b) incentive will support the $277,000 purchase and rehabilitation of a 3,800-square-foot industrial building by Quality Armatures Inc. in Belmont Cragin. The company, which produces and rebuilds electric engine components, will use the facility for the manufacture and repair of rotating motor parts. It will expand into the structure from an adjacent address. The estimated $101,000 in tax savings over the 12-year incentive period will support the retention of nine jobs and the creation of 11 new jobs.

The Cook County Class 6(b) incentive encourages industrial development by providing reduced property tax rates for qualifying rehabilitation and construction projects.

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