The URL can be used to link to this page

Home My WebLink AboutRESOLUTION - 48-21 - 8/17/2021 - Class 6B, 2021 Lunt AvenueRESOLUTION NO.48-21 A RESOLUTION DETERMINING THE APPROPRIATENESS FOR CLASS 6B STATUS PURSUANT TO THE COOK COUNTY REAL PROPERTY CLASSIFICATION ORDINANCE AS AMENDED JULY 27, 2018 FOR CERTAIN REAL ESTATE LOCATED AT 2021 LUNT AVENUE, ELK GROVE VILLAGE, ILLINOIS WHEREAS, the Village of Elk Grove Village desires to promote the development of industry in the Village of Elk Grove; and WHEREAS, the Cook County Assessor is operating under an ordinance enacted by the Cook County Board of Commissioners, and amended from time to time, the most recent amendment becoming effective as of July 27, 2018, which has instituted a program to encourage industrial and commercial development in Cook County known as the Cook County Real Property Classification Ordinance; and WHEREAS, the Mayor and Board of Trustees, finds that special circumstances justify finding that the property is "abandoned" for purpose of a Class 6B designation, even though it has been vacant and unused for more than 12 months and there has been no purchase for value, that finding, along with the specification of the circumstances, shall be included in the resolution or ordinance supporting and consenting to the Class 6B application; and WHEREAS, the Petitioner has applied for or is applying for Class 6B property status special circumstances pursuant to said aforementioned ordinance for certain real estate located at 2021 Lunt Avenue, in the Village of Elk Grove Village, Cook County, Illinois, with the Property Index Number 08-35-104-075-0000, and has proven to this Board that such incentive provided for in said ordinance is necessary for development to occur on this specific real estate. NOW, THEREFORE, BE IT RESOLVED by the Mayor and Board of Trustees of the Village of Elk Grove Village, Counties of Cook and DuPage, Illinois: Section 1: That the request of the Petitioner to have certain real estate located at 2021 Lunt Avenue, Elk Grove Village, Cook County, Illinois, and identified by Property Index Number 08- 35-104-075-0000, declared eligible for Class 6B status pursuant to the Cook County Real Property Classification Ordinance as amended July 27, 2018, is hereby granted in that this Board and the Village of Elk Grove Village, Illinois, has determined that the incentive provided by the said Class 6B Tax Incentive Ordinance is necessary for the said development to occur on the subject property, legally described as follows: LOT 1 IN ROLLEX CORPORATION RESUBDIVISION, BEING A SUBDIVISION OF SECTION 35, TOWNSHIP 41 NORTH, RANGE 11, EAST OF THE THIRD PRINCIPAL MERIDIAN, ACCORDING TO THE PLAT THEREOF RECORDED JUNE 8, 1989 AS DOCUMENT 89260322 AND FILED IN THE OFFICE OF THE REGISTRAR OF TITLES ON JUNE 8, 1989 AS DOCUMENT LR3800560, IN COOK COUNTY, ILLINOIS. Section 2: That the Special Circumstances as outlined by the petitioner are attached hereto as Exhibit "A" and made a part thereof. Section 3: That the Village of Elk Grove Village, Illinois hereby supports and consents to the Class 613 Application and approves the classification of the subject property as Class 613 property pursuant to the Cook County Real Property Classification Ordinance and the Class 613 tax incentives shall apply to the property identified as Permanent Real Estate Index Number 08- 35-104-075-0000. Elk Grove Village is in receipt of an economic disclosure statement that is included with the application packet. Section 4: That the Mayor and Village Clerk are hereby authorized to sign any necessary documents to implement this Resolution subject to the petitioner completing the following conditions within twelve months of closing: a. Upgrade the fagade; b. Update landscaping; c. Interior/exterior build out for data center operations; d. Office and security build out; e. Reconstruct existing dock drive and apron per Elk Grove Village standards; f. Resurface, seal coat and stripe the parking lot and driveway, as well as other renovations. Section 5: That this Resolution shall be in full force and effect from and after its passage and approval according to law. VOTE: AYES: 5 NAYS: 0 ABSENT: 1 PASSED this 171h day of August 2021 APPROVED this 171h day of August 2021 APPROVED: Mayor Craig B. Johnson Village of Elk Grove Village ATTEST: Loretta M. Murphy, Village Clerk DocuSign Envelope IO: 61EB79F8-lB66-4D85-901F-E5F36F8CAB4B Exhibit "A" edgeconnex August 4, 2021 Mr. Josh Grodzin Director Business Development and Marketing 901 Wellington Elk Grove Village, Illinois 60007 RE: 6b Petition — Occupation of Abandoned Property - With Special Circumstance Dear Mr. Grodzin: Since late 2013, EdgeConneX has built over 40 data centers across North America, Europe, and South America, creating a new Edge of the Internet. We continue to move the Internet to where it is most needed — into local markets across the country and around the globe. We are constantly evaluating our strategic plan for supporting our customers and evaluating our expansions into new markets as well as our current network of operations. As a result, we are considering a multi -phase campus expansion in Elk Grove Village that could bring nearly $300 million in new investment and quality new jobs. Phase One of our expansion is the subject of this letter and would be a conversion and renovation of an existing 63,250 square feet warehouse to a 7 MW data center facility located at 2021 Lunt Ave. EdgeConneX is seeking a 6(b) tax incentive under the Occupation of Abandoned Property - With Special Circumstance. This project is one of several being evaluated within the EdgeConneX organization and thereby internally competing for funding. The 6(b) tax incentive under the Occupation of Abandoned Property - With Special Circumstance is a key factor toward financial feasibility of the expansion and will significantly influence the Company's decision on whether or not to move forward with this investment. EdgeConneX purchased the property on May 30, 2017 through its fully owned subsidiary 2021 Lunt Ave LLC. The building became vacant as of January 1, 2019 in hopes for our project to move forward but has remained vacant since that time. We have included a sworn statement and provided support for the vacancy. The renovation of this building has been under consideration since 2017/2018. However, due to the economics of the project, it has been unsuccessful in moving forward. The availability of the 6(b) incentive with the classification as an Occupation of Abandoned Property - With Special Circumstance is an important component and assumption factored into more recent analysis indicating that this phase of the expansion could be financially viable. Should the project not be eligible for tax relieve under 6(b) DocuSign Envelope ID: 01EB79FB-lB554D85.901F-E5FWMAW the project would be at risk and there would be significant negative ramifications on EdgeConneX's plan related to the broader expansion. If EdgeConneX moves forward, this project would be a significant Investment In Elk Grove Village that will create jobs, boost the local tax base and support the area's technology -based economy. This project would expand EdgeConneX presence In Elk Grove Village and create additional opportunity for future growth. We thank you In advance for considering supporting this project through a 6(b) property tax abatement - occupation of Abandoned Property - With Special Circumstance. Sincerely, Li �'EIYosgMd or frowcg Chief Financial officer