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HomeMy WebLinkAboutAGENDA - 05/27/2025 - AGENDAPage 1 of 2 ADDENDUM REGULAR VILLAGE BOARD MEETING MAY 27, 2025 7:00 PM 5. CONSENT AGENDA aa. Consideration to adopt Resolution No. 38-25 authorizing the Mayor and Village Clerk to execute a First Amendment to the Purchase, Sale and Redevelopment Agreement with Wolf Family Enterprises, LLC (1201 Busse Road). (On March 25, 2025, the Village Board adopted Resolution 21-25 approving a Purchase, Sale and Redevelopment Agreement with Wolf Family Enterprises, and their business Chicago Wheel Service. (This amendment to the Purchase, Sale and Redevelopment Agreement’s Due Diligence period is needed for the buyer to complete newly required paperwork for the Small Business Administration (SBA) Loan. (While the amendment extends the Due Diligence period by 10 days, it will not move the anticipated closing date with the buyer.) bb. Consideration to adopt Resolution No. 39-25 authorizing the Mayor to execute a Letter of Receipt stipulating the terms of an agreement for an application seeking a Cook County Class 6B Property Tax Exemption status pursuant to the Cook County Real Property Classification Ordinance as amended July 27, 2018 for certain real estate located at 500 Higgins Road. (AGG Properties, LLC (Applicant), also known as George Gullo Development Corporation, is seeking a Cook County Class 6B property tax exemption for certain real estate located at 500 Higgins Road. (The Applicant intends to construct an approximately 19,425 square one-story modern industrial speculative building with a clear height of twenty-five (25) feet. Additionally, the newly constructed building will include four (4) exterior docks, one (1) drive-in door and twenty-six (26) parking stalls. (The Applicant plans to spend approximately $2 million to construct a new building at the subject property for the operations of a speculative user. In total, the Applicant intends that the building will accommodate upwards of fifteen (15) to twenty (20) full-time jobs. (The eligibility requirements for 6B status are new construction and substantial renovation Page 2 of 2 of buildings. This site qualifies as it involves new construction. (Property approved for Class 6B status allows the owner of the property to have the assessment level lowered for a period of twelve years. The assessment schedule is 10% of fair market value for ten years, then 15% in the eleventh year and 20% in the twelfth year. Industrial property is currently assessed at 25% of fair market value in Cook County. (Upon approval, the Director of Business Development & Marketing will issue a Letter of Receipt to the Applicant. The Letter of Receipt will allow the Applicant to file an application with Cook County. Final approval is at the discretion of the Village Board and contingent upon the Applicant completing the improvements stated in their application. (The Director of Business Development & Marketing recommends approval.) cc.Consideration to adopt Resolution No. 40-25 authorizing the Mayor to execute a Letter of Receipt stipulating the terms of an agreement for an application seeking a Cook County Class 6B Property Tax Exemption status pursuant to the Cook County Real Property Classification Ordinance as amended July 27, 2018 for certain real estate located at 570 Higgins Road. (AGG Properties, LLC (Applicant), also known as George Gullo Development Corporation, is seeking a Cook County Class 6B property tax exemption for certain real estate located at 570 Higgins Road. (The Applicant intends to construct an approximately 18,917 square foot one-story modern industrial speculative building with a clear height of twenty-five (25) feet. Additionally, the newly constructed building will include four (4) exterior docks, one (1) drive-in door and thirty-nine (39) parking stalls. (The Applicant plans to spend approximately $2 million to construct a new building at the subject property for the operations of a speculative user. In total, the Applicant intends that the building will accommodate upwards of fifteen (15) to twenty (20) full-time jobs.. (The eligibility requirements for 6B status are new construction and substantial renovation of buildings. This site qualifies as it involves new construction. (Property approved for Class 6B status allows the owner of the property to have the assessment level lowered for a period of twelve years. The assessment schedule is 10% of fair market value for ten years, then 15% in the eleventh year and 20% in the twelfth year. Industrial property is currently assessed at 25% of fair market value in Cook County. (Upon approval, the Director of Business Development & Marketing will issue a Letter of Receipt to the Applicant. The Letter of Receipt will allow the Applicant to file an application with Cook County. Final approval is at the discretion of the Village Board and contingent upon the Applicant completing the improvements stated in their application. (The Director of Business Development & Marketing recommends approval.)In compliance with the Americans with Disabilities Act and other applicable Federal and State laws, the meeting will be accessible to individuals with disabilities. Persons requiring auxiliary aids and/or services should contact the Village Clerk, preferably no later than five days before the meeting. RESOLUTION NO. _____ A RESOLUTION AUTHORIZING THE MAYOR AND VILLAGE CLERK TO EXECUTE A FIRST AMENDMENT TO PURCHASE, SALE, AND REDEVELOPMENT AGREEMENT BETWEEN THE VILLAGE OF ELK GROVE AND WOLF FAMILY ENTERPRISES, LLC (1201 BUSSE ROAD) NOW, THEREFORE, BE IT RESOLVED by the Mayor 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 Mayor be and is hereby authorized to sign the attached document marked: FIRST AMENDMENT TO PURCHASE, SALE, AND REDEVELOPMENT AGREEMENT (1201 BUSSE ROAD) a copy of which is attached hereto and made a part hereof as if fully set forth and the Village Clerk is authorized to attest said document upon the signature of the Mayor. Section 2: That this Resolution shall be in full force and effect from and after its passage and approval according to law. VOTE: AYES: NAYS: ABSENT: PASSED this day of 2025 APPROVED this day of 2025 APPROVED: Mayor Craig B. Johnson Village of Elk Grove Village ATTEST: Loretta M. Murphy, Village Clerk Res_1ST Amend, Purchase, Sale, & Redevelop Agmt Ave 1 FIRST AMENDMENT TO PURCHASE, SALE, AND REDEVELOPMENT AGREEMENT THIS FIRST AMENDMENT TO PURCHASE, SALE, AND REDEVELOPMENT AGREEMENT (“First Amendment”) is dated this ____ day of May, 2025 (“First Amendment Effective Date”), and is by and among the VILLAGE OF ELK GROVE VILLAGE, an Illinois home rule municipal corporation with offices located at 901 Wellington Avenue, Elk Grove Village, Illinois (“Village”), and WOLF FAMILY ENTERPRISES, LLC, an Illinois limited liability company with offices located at 146 Timber Court, Wood Dale, Illinois, (“Purchaser”) (collectively, the Seller and Purchaser are the “Parties” and, sometimes, individually, a “Party”). R E C I T A L S A. Pursuant to the Village’s home rule powers, its authority under the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1, et seq., and other relevant law, on or about March 25, 2025, the Village passed Resolution Number 21-25 approving a Purchase, Sale, and Redevelopment Agreement (“Redevelopment Agreement”) with the Purchaser relating to the property commonly known as 1201 Busse Road, which property is more specifically described in the Redevelopment Agreement (“Property”). B. The Purchaser now wishes to revise the Redevelopment Agreement to extend the Inspection Period to allow additional time for approval of financing, all as set forth in this First Amendment. NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency are hereby acknowledged, the Village and Purchaser agree as follows: 1. RECITALS AND EXHIBITS INCORPORATED. The foregoing recitals and all exhibits attached to this First Amendment are incorporated as though fully set forth in this Section 1. 2. CAPITALIZED TERMS; CONFLICT. Any capitalized term used herein, but not defined herein, shall have the meaning given to such term in the Redevelopment Agreement. In the event of any conflict between the terms and conditions hereof and those set forth in the Redevelopment Agreement, the terms and conditions of this First Amendment shall control. 3. CLOSING DATE ESTABLISHED. Redevelopment Agreement Section 4 is amended to provide that the Closing Date shall be on or before 5 p.m. CST on June 20, 2025, unless otherwise agreed to by the Purchaser and the Village Manager. 4. INSPECTION PERIOD AMENDED. Redevelopment Agreement Section 5(a) is amended to provide that the Inspection Period will expire at 2 p.m. CST on June 4, 2025. 5. TERMINATION RIGHTS AMENDED. Redevelopment Agreement Section 5(e) is amended to provide that the only reason the Purchaser may terminate the Redevelopment Agreement pursuant to Section 5(e) is if Purchaser fails to obtain financing necessary to acquire 2 the Property. Purchaser hereby waives all other termination rights provided by Redevelopment Agreement Section 5(e). 6. NO DEFAULT. The Parties represent, warrant, and agree that as of the First Amendment Effective Date, the Parties have fully performed under the Redevelopment Agreement and that no ongoing uncured default under the Redevelopment Agreement exists. 7. ONE AGREEMENT. The Redevelopment Agreement and the First Amendment shall be construed as one instrument. The terms and provisions of the Redevelopment Agreement not specifically modified by this First Amendment shall remain in full force and effect and shall not be construed to have been modified, waived, discharged or otherwise altered by this First Amendment. The terms and provisions of the Redevelopment Agreement are incorporated herein by reference as if fully stated herein. 8. FINAL FORM. This First Amendment represents the final agreement between the Parties and may not be contradicted by evidence of prior, contemporaneous, or subsequent oral agreements between the Parties. There are no unwritten oral agreements between the Parties. 9. SEVERABILITY. If any term or provision of this First Amendment, or the application thereof to any person or circumstance shall to any extent be invalid or unenforceable, the remainder of this First Amendment, or the application of such provision to persons or circumstances other than those as to which it is invalid or unenforceable, shall not be affected thereby. Each provision of this First Amendment shall be valid and shall be enforceable to the extent permitted by law. 10. AUTHORITY. Each Party represents and warrants to the other that is has the requisite authority to enter into this First Amendment, and each party shall, upon request, provide evidence of such authority acceptable to the other at the time of execution of this First Amendment. 11. BINDING EFFECT. This First Amendment shall be binding upon and inure to the benefit of the successors and permitted assigns of Village and Purchaser. 12. COUNTERPARTS. This First Amendment may be executed in multiple counterparts, each of which for all purposes is deemed an original, and all of which constitute collectively but one instrument; but in making proof of this First Amendment, it shall not be necessary to produce or account for more than one such counterpart. [Signature page follows] May 21, 2025 1 RESOLUTION NO. _____ 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 500 HIGGINS ROAD, 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 Petitioner has applied for or is applying for Class 6B property status pursuant to said aforementioned ordinance for certain real estate located at 500 Higgins Road, in the Village of Elk Grove Village, Cook County, Illinois, with the Property Index Number 08-21- 401-027-0000, 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 500 E. Higgins Road, Elk Grove Village, Cook County, Illinois, and identified by Property Index Number 08-21-401-027-0000, 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 77 (EXCEPTING THEREFROM THE SOUTH 17 FEET THEREOF) IN HIGGINS ROAD COMMERCIAL SUBDIVISION UNIT NUMBER 47, BEING A RESUBDIVISION IN SECTION 21, TOWNSHIP 41 NORTH, RANGE 11, EAST OF THE THIRD PRINCIPAL MERIDIAN, ACCORDING TO PLAT THEREOF REGISTERED IN THE OFFICE OF THE REGISTRAR OF TITLES OF COOK COUNTY, ILLINOIS, ON MAY 2, 1969, AS DOCUMENT NUMBER 2448731, IN COOK COUNTY, ILLINOIS. Section 2. 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 2 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 Number 08- 21-401-027-0000. Section 3. That the Mayor and Village Clerk are hereby authorized to sign any necessary documents to implement this Resolution including the Elk Grove Village Class 6b Property Tax Incentive Terms and Agreement subject to the petitioner completing new construction of a 19,425 square foot industrial building, in substantial conformance with the Applicant completing the improvements stated in their application. Section 4. That this Resolution shall be in full force and effect from and after its passage and approval according to law. VOTE: AYES: ______ NAYS: _____ ABSENT: _____ PASSED this ______ day of _____________________ 2025 APPROVED this _____ day of ____________________ 2025 APPROVED: Mayor Craig B. Johnson Village of Elk Grove Village ATTEST: Loretta M. Murphy, Village Clerk Res6b,500 Higgins 1 RESOLUTION NO. _____ 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 570 HIGGINS ROAD, 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 Petitioner has applied for or is applying for Class 6B property status pursuant to said aforementioned ordinance for certain real estate located at 500 Higgins Road, in the Village of Elk Grove Village, Cook County, Illinois, with the Property Index Number 08-21- 401-010-0000, 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 570 E. Higgins Road, Elk Grove Village, Cook County, Illinois, and identified by Property Index Number 08-21-401-010-0000, 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 22 (EXCEPT THE SOUTHERLY 17 FEET THEREOF, AS CONDEMNED IN CASE NO. 70L7062) IN HIGGINS ROAD COMMERCIAL SUBDIVISION UNIT NUMBER 16, BEING A RESUBDIVISION IN SECTION 21, 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 OF COOK COUNTY, ILLINOIS, ON APRIL 28, 1967, AS DOCUMENT NO. 2321821, IN COOK COUNTY, ILLINOIS. Section 2. 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 2 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 Number 08- 21-401-010-0000. Section 3. That the Mayor and Village Clerk are hereby authorized to sign any necessary documents to implement this Resolution including the Elk Grove Village Class 6b Property Tax Incentive Terms and Agreement subject to the petitioner completing new construction of a 18,917 square foot industrial building, in substantial conformance with the Applicant completing the improvements stated in their application. Section 4. That this Resolution shall be in full force and effect from and after its passage and approval according to law. VOTE: AYES: ______ NAYS: _____ ABSENT: _____ PASSED this ______ day of _____________________ 2025 APPROVED this _____ day of ____________________ 2025 APPROVED: Mayor Craig B. Johnson Village of Elk Grove Village ATTEST: Loretta M. Murphy, Village Clerk Res6b,570 Higgins