RESOLUTION - 20-16 - 6/21/2016 - Class 6B, 650 Morse Ave

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Exhibit "A" Special Ci reu instances Requested by Tradewater i:+GV, LI.0 650 Morse Ave,, FIk Grove Village, Illinois (PIN: 08-34-102-025-0000) Tradewater EGV, LLC ("Applicant") is requesting a Resolution in support and consent of a Class 6b Incentive on the above -referenced property based on occupation of an abandoned property that has been vacant for less than 24 continuous months with a purchase for value, new construction, substantial rehabilitation and special circumstances. The Applicant plans on purchasing the subject property and its related entity, Tradewater, LLC, plans on occupying the entire facility for its use consisting of the warehousing and processing of harmful CFC refrigerants (which are ozone depleting substances) for carbon credits under the California cap and trade program. The property consists of an approximately 30,000 square foot site with a roughly 12,000 square foot building that has been 100%n vacant and unused since January 1, 2015. The property is in need of substantial rehabilitation. Therefore, the Applicant plans to invest approximately $900,000 to rehabilitate the existing building and to construct an approximately 2,025 square foot addition on the west side of the building. This addition will house a multi-million dollar proprietary plasma arc gasification system. Based on initial inspections the improvements will be to pave the side yard to create additional parking spaces, upgrade the electricity to 1,200 amp service, add signage, update the facade and update the landscaping as well as to complete other general maintenance. The Applicant also plans on completing interior improvements, however, these exact improvements are still in development. At a minimum, it will include painting offices, installing a control room and installing windows on the east side of the building. Please note, however, that all of the rehabilitation costs could significantly vary depending on a variety of factors. Further inspections of the subject property may requite additional improvements. The rehabilitation will create approximately 30 to 40 construction jobs. Tradewater, LLC currently leases approximately 3,600 square feet at 415 N. Aberdeen St. in Chicago, Illinois. Tradewater, LLC plans to stay in its Chicago location and its 10 employees at that site will remain there. However, Tradewater, LLC needs to expand its operation and plans on expanding at the subject property. Tradewater, LLC plans on hiring three full-time employees as soon as possible at the subject property and hopes to add an additional one to two employees shortly thereafter. Additionally, Tradewater, LLC will look to hire all qualified Elk Grove Village residents for future hires. Elk Grove Village can also expect that Tradewater, LLC and its employees will invest commercially back into the community by visiting local establishments such as suppliers, restaurants, gas stations, grocery stores and more. In addition, Elk Grove Village can expect that Tradewater, LLC will attract business and various customers to the Village in the course of their operations. Based on our research and the additional costs that must be incurred to rehabilitate the building in order for this to be a successful endeavor, the Applicant must possess a Class 6b Incentive to complete the substantial rehabilitation thereof and new construction and to successfully operate the property. It is for these reasons that it is necessary to grant the Applicant a Resolution in support and consent of a Class 6b Incentive for the subject property based on occupation of an abandoned property that has been vacant for less than 24 continuous months with a purchase for value, new construction, substantial rehabilitation and special circumstances.