HomeMy WebLinkAboutRESOLUTION - 49-89 - 8/8/1989 - CLASS 6B STATUS/1100 DEVON AVERESOLUTION NO. 49-89
A RESOLUTION FOR APPROVAL OF CLASS 6b INCENTIVE ASSESSMENT
FOR CERTAIN REAL ESTATE IN THE VILLAGE OF ELK GROVE
VILLAGE (1100 DEVON AVENUE - J & J COMPANY)
WHEREAS, J & J COMPANY, Owner of the property commonly known as 1100 Devon
Avenue, in the Village of Elk Grove Village, proposes to undertake a program
of expansion and remodeling of its existing premise, at a cost estimated at over
$800,000, the viability of the said program being dependent on the eligibility
of the said property for Class 6(b) incentives, and
WHEREAS, the permanent real estate tax index numbers of this property are
08-34-302-024/025; and
WHEREAS, J & J COMPANY, is applying to the Office of the Assessor of Cook
County for Class 6(b) classification under the Cook County Real Property Assessment
Classification Ordinance, adopted by the Cook County Board of Commissioners on
October 1, 1984, and
WHEREAS, J & J COMPANY, will as a result of this aforesaid substantial
rehabilitation, significantly improve its facility at the subject location; and
WHEREAS, the aforesaid program of substantial rehabilitation will create
additional permanent employment opportu:vities; and
WHEREAS, additional economic development is deemed to be a necessity for
the continued economic development and viability of the Village of Elk Grove
Village; and
WHEREAS, the substantial rehabilitation of the subject property by J & J
COMPANY, will generate significant new revenues in the form of additional state
and federal income tax revenues, local .real estate and other taxes.
NOW, THEREFORE, BE IT RESOLVED by the President and Board of Trustees of
the Village of Elk Grove Village, Counties of Cook and DuPage, State of Illinois
as follows.
Section 1. That the subject property is appropriate for Class 6(b) incentive
assessment under the Cook County Real Property Assessment Classification Ordinance
of October 1, 1984.
Section 2. That this Resolution shall be in full force and effect from
and after its passage and approval according to law.
VOTE: AYES: 5
PASSED this
APPROVED this
NAYS: 0 ABSENT: 1
day of August , 1989.
8th day of August , 1989.
Charles J. Zettek
Village President
ATTEST:
Patricia S. Smith
Village Clerk