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HomeMy WebLinkAboutRESOLUTION - 20-22 - 4/12/2022 - Class 6B 119 Bond StreetRESOLUTION NO.20-22 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 119 BOND STREET, 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, in the case of abandoned property, if the municipality or the Mayor and Board of Trustees, finds that special circumstances justify finding that the property is "abandoned" for purpose of Class 613, even though it has been vacant and unused for less than 24 months, 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. Such resolution or ordinance shall be filed with the eligibility application. If the ordinance or resolution is that of a municipality, the approval of the Board of Commissioners of Cook County is required to validate such shortened period of qualifying abandonment, and a resolution to that effect shall be included with the Class 6B eligibility application filed with the Assessor; and WHEREAS, the Petitioner has applied for or is applying for Class 6B property status pursuant to said aforementioned ordinance for certain real estate located at 119 Bond Street, in the Village of Elk Grove Village, Cook County, Illinois, with the Property Index 08-22-301-011- 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 119 Bond Street, Elk Grove Village, Cook County, Illinois, identified by Property Index Numbers 08-22- 301-011-0000, declared eligible for Class 6B special circumstances 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: THE SOUTH 125 FEET OF LOT 25 IN HIGGINS ROAD COMMERCIAL SUBDIVISION UNIT NO. 1 BEING A SUBDIVISION OF SECTION 22, TOWNSHIP 41 NORTH, RANGE 11, EAST OF THE THIRD PRINCIPAL MERIDIAN, ACCORDING TO THE PLAT THEREOF REGISTERED IN THE OFFICE OF THE REGISTRAR OF TITLES DOCUMENT NUMBER LR1795729 AND RECORDED IN THE RECORDER'S OFFICE AS DOCUMENT NUMBER 17204943 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 6B Application and approves the classification of the subject property as Class 6B property pursuant to the Cook County Real Property Classification Ordinance and the Class 6B tax incentives shall apply to the property identified as Permanent Real Estate Index Numbers 08- 22-301-011-0000. Elk Grove Village is in receipt of an economic disclosure statement that is required 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. Resurfacing the parking lot, a new dock apron; b. Refurbishing the facade by installing new paneling, windows and canopies; c. Installing new LED lighting; d. Adding new landscaping, and cleaning out the rear drainage canal. Section 5: That this Resolution shall be in full force and effect from and after its passage and approval according to law. VOTE: AYES: 6 NAYS: 0 ABSENT: 0 PASSED this 12t' day of April 2022 APPROVED this 12t' day of April 2022 ATTEST: Loretta M. Murphy, Village Clerk APPROVED: Mayor Craig B. Johnson Village of Elk Grove Village SARNOFF BACCASH Special circumstances requested by ORD Real Estate LLC 119 Bond St Elk Grove Village, Illinois (PINs: 08-22-301-011-0000) ORD Real Estate LLC ("Applicant") is requesting a Resolution supporting and consenting to 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, special circumstances and substantial rehabilitation. The Applicant recently purchased the subject property and plans to rehabilitate the same for its related entity, ORD Trans, Inc., to occupy the entire site for its operations consisting of the warehousing and distribution in freight forwarding. The subject property is approximately 25,000 square feet with an approximately 14,875 square foot building thereon that has been vacant and unused since December, 2021. The property is in need of substantial rehabilitation. Therefore, the Applicant plans to spend approximately $100,000 to $150,000 to immediately rehabilitate and improve the subject property. Based on initial inspections these improvements will be to update the landscaping, update/improve the fagade, add new signage, reconstruct the concrete dock drive, reconstruct the drive apron per Village standards, clear the ditch to the center line, add a new accessible walkway and repair/improve the parking lot as well as to complete other general maintenance. Note that the Applicant also plans to complete interior improvements. Please note that all of the rehabilitation costs could significantly vary depending on a variety of factors such as market variances. Further inspections of the subject property may require additional improvements. The rehabilitation will create approximately 10 to 20 construction jobs. ORD Trans, Inc. currently leases approximately 20,000 square feet of a building located at 2375 Pratt Blvd. in Elk Grove Village. ORD Trans, Inc. needs a better facility that will allow it to maximize its functionality. Therefore, the Applicant plans to rehabilitate the subject property to meet ORD Trans, Inc.'s needs and it will move its entire operation to the same. Currently, ORD Trans, Inc. has 5 employees (all full-time) and plans to bring all of these employees to the subject property and to hire an additional 2 employees as soon as possible. Additionally, ORD Trans, Inc. will look to hire all qualified Elk Grove Village residents for future hires. Elk Grove Village can also expect that ORD Trans, Inc. and its employees will continue to invest commercially back into the community by visiting local establishments such as restaurants, gas stations, grocery stores and more. In addition, Elk Grove Village can expect that ORD Trans, Inc. will continue to attract business and various customers to the Village in the course of its operations. Based on our research and the additional costs that must be incurred to improve and rehabilitate the building in order for this to be a successful endeavor, the Applicant must possess a Class 6b Incentive to complete the improvements and to successfully operate the property. It is for these reasons that it is necessary to grant the Applicant a Resolution supporting and consenting to 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, special circumstances and substantial rehabilitation.