Committee on Economic, Capital and Technology Development - 2026-01-13
Meeting Intelligence Preview
Meeting Summary
The Committee on Economic, Capital and Technology Development approved a Class 6(b) tax incentive renewal for APS Groupa's manufacturing facility at 10459 South Muskegon Avenue, preserving 130 jobs and potentially creating 20 new positions with a planned $7 million soy protein processing expansion. A new Class 6(b) incentive was also approved for 1532 West Fulton Street for Coffee Unlimited's relocation and expansion. The committee deferred a tax incentive ordinance for 2234 West 43rd Street and designated Greater Southwest Development Corporation as interim service provider for SSAs 03 and 59-2022.
Key Decisions (6)
CDC Appointment - Sergio Candelaria
Sergio Candelaria appointed as member of the Community Development Commission. He is a director of program and project controls at Accenture and resident of the 40th Ward.
SSA Commissioner Appointments (Partial)
Approved appointments for Eva Moran (SSA 16 Greektown renewal), Ivy Speck (SSA 17 Central Lakeview initial), and Jennifer Ditas (SSA 17 Central Lakeview initial). Items 3, 4, 5, and 6 were separated and held pending in-person or virtual appearance by nominees.
Tax Incentive at 2234 West 43rd Street
Tax incentive ordinance for property at 2234 West 43rd Street deferred following meeting between DPD and Alderman Ramirez.
Greater Southwest Development Corporation as Interim SSA Provider
Designated Greater Southwest Development Corporation as interim service provider for SSA 03 and SSA 59-2022 until permanent 2026 provider selected through RFP process. RFP posted January 2, applications due January 26, community meeting in February, goal for permanent provider ordinances by April with May 1 start date.
Class 6(b) Tax Incentive Renewal at 10459 South Muskegon Avenue
Second renewal of Class 6(b) industrial property tax incentive for Rose Dev Portfolio IL LLC, passed through to tenant APS Groupa operating 236,000 sq ft manufacturing facility. Preserves 130 jobs, potentially creates 20 new jobs with planned $7 million soy protein processing system expansion. Estimated tax savings $1.3 million over 12 years. Located in 10th Ward, Lake Calumet Area Industrial TIF District.
Class 6(b) Tax Incentive at 1532 West Fulton Street
Initial Class 6(b) property tax incentive for 1532 West Fulton Reverse LLC for 20,600 sq ft building renovation. Coffee Unlimited (Stuber Corporation) will relocate and expand Chicago operations. Total project cost $4.8 million including masonry, fire sprinkler, roofing, plumbing, HVAC. Estimated abatement $1.1 million over 12 years. Located in 27th Ward, Near West Side, Kinsey Industrial Corridor.
Development Activity (2)
APS Groupa Soy Protein Processing Expansion
Planned $7 million second soy protein processing system at existing 236,000 sq ft manufacturing facility. Currently produces 150 million pounds of ingredients annually. Facility includes deepwater barge slip, interior railcar, bulk truck transfer, and 3 million pounds dry bulk storage. 2021 expansion included isolate system.
Coffee Unlimited Relocation
$4.8 million renovation of 20,600 sq ft building for coffee distribution operations. Rehab includes masonry, fire sprinkler upgrades, roofing, plumbing, and HVAC. Financed by combination of equity and debt.
Market Signals (4)
Commercial Demand
APS Groupa considering relocating $7 million expansion to Iowa near supplier's plant, indicating competitive pressure from other states for industrial investment.
Labor
APS Groupa reports entry-level wages starting at $17/hour with skilled operators at $23-30/hour and maintenance technicians at $35-40/hour, with 100% local Chicago hiring from surrounding neighborhoods.
Sentiment
Public commenter noted State Street and Michigan Avenue appearing like 'ghost towns' with businesses leaving due to taxes and crime concerns.
Commercial Demand
Coffee Unlimited purchased building rather than continuing lease to establish long-term presence in Chicago, demonstrating commitment to the market.