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HomeMy WebLinkAboutRESOLUTION - 20-22 - 4/12/2022 - 119 BOND STREET 6BRESOLUTION 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 6B, 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 t: 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 fagade 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 1211 day of April 2022 APPROVED this 1.211 day of April 2022 ATTEST: Loritta M. Murphy, Vi! age Clerk 119 Bund 5L AP OVER: Mayor raig . Johnson Village of El Grove Village SARNOFF BAccAsH February 8, 2022 Josh Grodzin Economic Development Director Village of Elk Grove 901 Wellington Avenue Elk Grove, Illinois 60007 RE: Class 6b Incentive Resolution Request ORD Real Estate LLC 119 Bond St. Elk Grove Village, Illinois 60007 PIN: 08-22-301-011-0000 Dear Josh: 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. In addition, because the property has been vacant for less than 24 continuous months with a purchase for value, the Applicant will be seeking a Class 6b Incentive with special circumstances. Attached please find a brief narrative discussing the need for special circumstances. 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. SARNOFF I iw..CASH Josh Grodzin February 8, 2022 Page Two 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. As the above indicates, there are various benefits Elk Grove Village will receive should the Applicant be granted a Class 6b Incentive. The Applicant is excited to move forward with the improvements and occupation of the subject property. Additionally, ORD Trans, Inc. is excited to expand its operations at the subject property in Elk Grove Village and be a strong community member for many years to come. However, the above is all contingent on the Applicant receiving a Class 6b Incentive. Therefore, please review this letter and the following attached materials, and place the Applicant on the Agenda for the next Elk Grove Village Board meeting on February 22, 2022: 1. Petition Form for Class 6B Program. 2. Affidavit attesting to the vacancy on the subject property. 3. Legal description of the subject property. 4. Aerial of the subject property. 5. Color renderings showing the proposed new facade and landscaping. 6. List of the subject property's taxes for the past five years, including a Cook County print-out. 7. Estimated taxes on the subject property with and without the Class 6b Incentive and with 100% vacancy relief. 8. Cook County Disclosure of Ownership Interest Statement. 9. $1,000.00 filing fee. Should you have any questions or concerns, do not hesitate to contact me at (312) 782-8310. Sincerely, SARNOFF & BACCASH Zachary A. Kafitz SARNOFF , BACCASH Special circumstances requested by ORD heal 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. Petition Form for Class 6B PrO Lr im For Office Use Only Address of Subject Property: Signed Affidavit Dated: To the_Ayolicant: Anyone who intends to submit a request for a Cook County Class 6B Property Tax Abatement within the corporate limits of the Village of Elk Grove Village must first complete this petition in all its entirity. The contents of this petition are as follows: Petition Detailed Letter of Transmittal Property Tax Analysis Eligibility Checklist $500 Filing Fee Please read the entire form and complete every section as thoroughly as possible. If you have any questions, please call the Director of Business Development & Marketing at (847) 357-4007. Page I -- PETITION FOR COOK COUNTY CLASS 6B VILLAGE OF ELK GROVE VILLAGE We, the undersigned, being owners of record of the following described real estate, do hereby request that the following business and legally described real estate be granted a Cook County Class 6B Property Tax Abatement: Business: ORD Real Estate LLC _ Address: 119 Bond St., Elk Grove Village, IL 60007 Permanent Real Estate Tax Index No. 08-22-301-011-0000 Assessed Valuation 20 21 $159,910 (last 3 years) 20 20 $159.906 20 19 $159,906 a Attach Legal Description of Property Owners of Record: Print Name: Sip -nature: (Address City, State) Phone: Email: Fax: Business Applicant's Name: Print Name: Stoian Mladenov Signature: ��y ORD Real Estate LLC Business/Corporation Name 119 Bond St., Elk Grove Village, IL 60007 (Address City, State) Phone: -27 - 668 Fax: 773-360-3541 Email: stoian@ordtrans.com Page 12 Disclosure of Ownershiu I. When submitting documentation required for the Cook County Class 6B Property Tax Abatement Program, the applicant is required to submit all required and supporting documentation for the application. The applicant is REQUIRED to submit the following information: a A Letter of Transmittal detailing the existing and intended use of the property, reason for Class 6B, property alterations, pertinent business operational information, or any information of note that may be beneficial for staff and the Village Board. ❑ Completion of the Class 6B Eligibility Checklist for the property in question. ❑ Completion of the property tax analysis spreadsheet. ❑ Current property photographs and renderings of propertylbuilding modifications, if applicable. ❑ Proposed Site Plan, if applicable. If property is: ❑ Owned by the individuai(s); m Title Tract Search, or > One copy of the latest recorded deed with affidavit ❑ AdMinistereci b a tru.m; One certified copy of the trust agreement, trust deed and a list of beneficiaries * Has the property been, or is now, the subject of any other action by the Village? Node that the Applicant is If YES, give details on a separate sheet of paper. aware of at this time. Page13 1 VILLAGE OF ELK GROVE VILLAGE, ILLINOIS Petition for Cook County Class 6B Property Tax Abatement The Village of Elk Grove prides itself on being a business friendly community. As such, the Village supports the use of the Cook County Class 613 Tax Abatement in cases where it is established that a tax disparity exists and is detrimental to tenancy and where the project presents a clear benefit to the community. The Village reserves the right to review applications and render its approval or disapproval based on the infonnation provided. Adhering to all Village codes and ordinances with respect to building and landscaping alterations is required. Furthermore, proposed building and landscaping construction must follow the design guidelines promulgated in the Industrial / Commercial Revitalization Master Plan Update for 2011. Proposed enhancements should be in accordance with the attached Industrial Design Guidelines Packet. The purpose of the Cook County Class 613 Property Tax Abatement Program is to stimulate the re - occupancy of vacated industrial buildings through a reduction in property taxes. Property approved for Class 613 status allows the owner of the property to have the assessment level lowered for a period of twelve years. Under the program 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 regularly assessed at 25% of fair market value in Cook County. I - INITIATION: The following procedures are necessary for a completed petition for Cook County Class 613 Property Tax Abatement consideration: A. Documents required: 1. Petition (attached) completed in full. 2. Detailed Letter of Transmittal. 3. Completion of Class 6B Eligibility Checklist 4. Previous five (5) years of Property Tax Bill Payments. 5. Legal description of the property. 6. Photographs, both areial and land based, of the area for which the property tax exemption is requested. 7. Any additional supporting documents for the petition. Page 14 B. Fecs: Submit a check made payable to the Villa *e of Elk Grove Villa e to meet the following: 1. $500.00: Filing Fee. Documents and fees are to be submitted to the Village Manager's Office, Attn: Director of Marketing & Business Development 901 Wellington, Elk Grove Village, Illinois 60007. II - REVIEW AND PROCESSING: Upon receipt of the petition for Cook County Class 6B Property Tax Abatement and fee, the Director of Business Development & Marketing will: A. Examine the request for compliance with the above requirements for information, documents and fees. Incomplete inquires will be returned to the for their action. Step "B" will be taken when all petition requirements have been fulfilled. B. Distribute petition and required documents for departmental review and comment by Village Manager's Office, Community Development, Public Works, and Finance. Departments will submit written comments to Director of Business Development & Marketing. C. Department comments will be communicated to applicant for correction. D. When your application is determined to be complete by staff, the petition will be presented to the Mayor & Board of Trustees at the next regularly scheduled Village Board Meeting for consideration. E. Fully completed petitions will be reviewed by the Mayor & Board of Trustees to ensure that the project has a clear and demonstrated benefit to the community. If the project is deemed to have merit and the Applicant has demonstrated that the project could not occur without the assistance provided by the Cook County Class 6B Property Tax Abatement, then the Mayor & Board of Trustees will provide the applicant with a Letter of Receipt from the Village. This letter may be used to inform the Cook County Assessor's Office that Elk Grove Village is in receipt of the Applicant's request for a Cook County Class 613 Property Tax Abatement. The Letter of Receipt is not a guarantee of approval and the Applicant can move ahead with their project at their own risk. F. The Village will maintain contact with the to ensure that the stated obligations have been met. G. Once the stated obligations have been met, Village staff will present a Resolution of Support to the Mayor & Board of Trustees at a regularly scheduled Village Board Meeting for consideration. Page 12 III - FINAL ACTION: Upon their review, the Mayor and Board of Trustees at a Village Board Meeting will: A. Deny the request. B. Approve the request with or without modification. C. Adopt appropriate resolution. If Approved, the Applicant will receive a certified copy of the Village's Resolution in support of the Cook County Class 613 Property Tax Abatement. NOTE: While the Village will do its best to expedite the review and approval process, Applicants should allow at least 30 days for review by staff and consideration by the Mayor & Board of Trustees. Furthermore, additional time may be needed depending on the complexity of the development. Page 13 i VILLAGE OF ELK GROVE VILLAGE, ILLINOIS Petition for Cook County Class 6B Property Tar Abatement Eligibility Checklist In order to be considered for the Cook County Class 613 Property Tax Abatement, the Eligibility Checklist must be completed. The initial application must score 16 out of 16 points. Each item will receive 1 point for Yes and 0 points for No. Packet Item Yes Letter of Transmittal x Name of the Applying Company X No Current and Proposed Location/Address of the Applicant X Proposed Use of the Properly X Proof of Vacancy X Job Creation and Retention Data(excluding one-time construction jobs X Total Project Cost of Proposed Im rovements exclude land urchase X Proposed Detailed Construction Budget of Proposed Improvements X Proposed Landsca a Budget and Plan x Total Square Foota a of the Building x Current Color Photo ra hs of the Building x Prior Five Years of Tax Histor x Breakdown of Taxes Paid Occupied With 613 v. Occupied Without 613 x Tax PIN x Le al Description x x Letter from Applicant Explaining the Need for the Tax Abatement on Coat an Letterhead Ap2lication Fee of $500 x 16 Total Points _ _ _ �� Below is a list of recommended items to be included in your Letter of Transmittal as part of the applicant submission: • Nature of the proposed operation. • Documentation detailing how long the building has been vacant. ■ Owner occupied or leased. • Justification explaining the need for the property tax abatement, • Note if retail sales take place at the proposed location. Proposed number of employees, which should include full-time and part-time. As well as any potential growth and time -frame for filling those new positions. « Detailed breakdown of what needs to be done to the property to make it suitable for the proposed operation. • How the proposed improvements conform with the Village's Industrial/Commercial Revitalization Master Plan. • How the proposed improvements will increase the valuation of the property. ■ How the neighboring businesses with benefit from the proposed improvements. Page 14 Legal Descrintion, Site and Buildiny, Square Footage The total land area of the subject parcel located at 119 Bond St. in Elk Grove Village, Illinois (PINs: 08-22-301-011-0000) is approximately 25,000 square feet, and the total building area of the existing structure located thereon is approximately 14,875 square feet. Below please find the legal description of the subject property. 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. AFFIDAVIT I, SAMAR CHUNG, if called to testify would attest to the following facts: 1. That I am a real estate broker with Realty Executives Advance and I was a broker on the purchase of the property located at 119 Bond St. in Elk Grove Village, Illinois (PINs: 08- 22-301-011-0000) ("Subject Property"). That the prior occupant of the Subject Property was Specialty Metals. 3. That as of December, 2021, Specialty Metals completely vacated the Subject Property. 4. That since December, 2021, the Subject Property and has been 100% vacant and unused. Further Affiant Sayeth Not SAMAR CHUNG Date: 0 i I -a I ( 20Z 2- Subscribed and sworn before me This-ii day of V., 2022 Official Sena Patricia A Wolf U Notary Public State of Illlnoia . ignature of Notary Public My Commission ExpireS711f2026 =1 • 40 r: �a ,x i - 1 WL r;t .T A-W c� � 1 ii► a � Bund St + w - �— — • 7 .• � ■ r W h ` w � t � 4 1 co f• w m LU y g t CD W moil r K k{ }! I ■ �k} |/2 � \)k � 0 § § k N T W w ti 0 0 0 Cl) LLI 0(D Z J OJ m w T 0 T (� Y J W I W r N 0 Z O m ol r r 0 O O x o > m � � v w 0) > L J C� W > V) Z x W m W in C Q _ _ S r m L:• S J Q C U N O r n 'n w 0 a z Q -o O 0 2 � 2 Q H N O O U C) V Q J L J (0 m _ N w C co V _0 Z >' 2 J C Q: m Q 0 N w D Z O F-' 0 LJ W m 0 LU cr Ir W Y 2 Q 119 Bond St.. Elk Grove Village. Illinois (PIN; 08-22-301-011-0000) Tax Year Taxes 2020 $42,760, 99 2019 $38,930.22 2018 $42, 3 74.45 2017 $42,071.30 2016 $39,299.81 U" 'o 'o n n n n n n n n E d m� E c 'v I- ao v n W v n m v n m v M v ao v ao v v m a m v m v W c E CEO in '7 Q W O 9 O a C U W W fA (o!A m M fA m M f9 W c? (9 W (O (9 (0 Kl 1h (O m 01 W 0f fA W W m aj m G E i d E wpp e o o v a a r+ Ln Lo °� 61 n 3 r: is r: c w c 04 o cmwD v w e w N w ei w m w v E w e an —ww w i9 w N 1m! C d 3 W H o 9 O d IL m m d v M v w v 69 ti 6" ti N9 O- � � NM v> q � m w o w m1-.? E d m t y c w cn e E m V d N N N w N W C4 W w 4* w N 40 R N f T t G C f d me m d yN d E c e $ a {p v+ o N a+ (n0. (n0 M I ? 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This Disclosure of Ownership Interest Statement must be completed with all nforynation current as of the date this Statement is signed, Furthermore, this Statement must be kept current, by filing an amended statement, until such time as the County Board or County Agency shall take action on the application. The information contained n this Statement will be maintained in a database and made available for public viewing. County reserves the right to request idditional information to verify veracity of information containted in this statement f you are asked to list names, but there are no applicable names to list, you must state NONE. An incomplete Statement will be etumed and any action regarding this contract will be delayed. A failure to fully comply with the ordinance may result in the action aken by the County Board or County Agency being voided. "Applicant" means any Entity or person making an application to the County for any County Action. "County Action" means any action by a County Agency, a County Department, or the County Board regarding an ordinance or ordinance amendment, a County Board approval, or other County agency approval, with respect to contracts, leases, or sale or purchase of real estate. "Person" "Entity" or 'Legal Entity' means a sole proprietorship, corporation, partnership, association, business trust, estate, two or more persons having a joint or common interest, trustee of a land trust, other commercial or legal entity or any beneficiary or beneficiaries thereof. 'his Disclosure of Ownership Interest Statement must be submitted by: An Applicant for County Action and . A Person that holds stock or a beneficial interest in the Applicant Wd is listed on the Applicant's Statement (a "Holder") must file a statement and complete *1 only under Ownership Interest Declaration. Tease print or type responses dearly and legibly. Add additional pages If needed, being careful to identify each portion of the form to rhich each additional page refers. This Statement is being made by the [ X ] Applicant or [ ] Stock/Beneficial Interest Holder This Statement Is an: [ ] Original Statement or [ ] Amended Statement Identifying Information: Name Ord Real Estate LLC MIA FEIN # Only: 46-5447333 Street Address: 2375 Pratt Blvd City: Elk Grove Village State: IL Zip Code: 60007 Phone No.: 773-360-3541 Fax Number: 773-360-9103 Email: m1adenovs0cloud.com Cook County Business Registration Number: (Sole Proprietor, Joint Venture Partnership) Corporate File Number (if applicable): 04768086 Form of Legal Entity: [ ] Sole Proprietor [ ] [ ] Business Trust [ ] [ ] Other (describe) , Partnership [X] Corporation [ ] Trustee of Land Trust Estate [ ] Association [ ] Joint Venture DISCLOSURE OF OWNERSHIP INTEREST -1 Ownership Interest Declaration: 1. List the name(s), address, and percent ownership of each Person having a legal or beneficial interest (including ownership) of more than five percent (5%) in the Appllcant/Holder. Name Address Percentage Interest in Applicant/Holder Stoian Mladenov 185 N Hickory Ave. Arlington Heights, IL 60004 50% Rouslan Iovtchev 3916 Clearwater Drive, Long Grove, IL 60047 50% 2. If the interest of any Person listed in (1) above is held as an agent or agents, or a nominee or nominees, list the name and address of the principal on whose behalf the interest is held. Name of Agent/Nominee Name of Principal Principal's Address 3. Is the Applicant constructively controlled by another person or Legal Entity? [ ] Yes [ X ] No If yes, state the name, address and percentage of beneficial interest of such person, and the relationship under which such control is being or may be exercised. Name Address Percentage of Relationship Beneficial Interest Corporate Officers, Members and Partners Information: For all corporations, list the names, addresses, and terms for all corporate officers. For all limited liability companies, list the names, addresses for all members. For all partnerships and joint ventures, list the names, addresses, for each partner or joint venture. Name Address Title (specify title of Term of Office Office, or whether manager or partner/joint venture) Stoian Mladenov 185 N Hickory Ave. Arlington Heights IL 60004 Manager TBD Rouslan Iovtchev 3916 Clearwater Drive, Long Grove, IL 60047 Manager TBD Declaration (check the applicable box): [ X ] I state under oath that the Applicant has withheld no disclosure as to ownership interest in the Applicant nor reserved any information, data or plan as to the intended use or purpose for which the Applicant seeks County Board or other County Agency action. [X] I state under oath that the Holder has withheld no disclosure as to ownership interest nor reserved any information required to be disclosed. DISCLOSURE OF OWNERSHIP INTEREST - 2 1. REAL ESTATE OWNERSHIP DISCLOSURES. The Applicant must indicate by checking the appropriate provision below and providing all required information that either: a) The following is a complete list of all real estate owned by the Applicant in Cook County: PERMANENT INDEX NUMBER(S): 08-35-403-022-0000 08-27-200-062-0000 08-22-301-011-0000 (ATTACH SHEET IF NECESSARY TO LIST ADDITIONAL INDEX NUMBERS) OR: b) The Applicant owns no real estate in Cook County. 2. EXCEPTIONS TO CERTIFICATIONS OR DISCLOSURES. If the Applicant is unable to certify to any of the Certifications or any other statements contained in this EDS and not explained elsewhere in this EDS, the Applicant must explain below: If the letters, "NA", the word "None" or "No Response" appears above, or if the space is left blank, it will be conclusively presumed that the Applicant certified to all Certifications and other statements contained in this EDS. DISCLOSURE OF OWNERSHIP INTEREST - 3 COOK COUNTY DISCLOSURE OF OWNERSHIP INTEREST STATEMENT SIGNATURE PAGE Stoian Mladenov President Name AuthorizedRepresentative (please print or type) Title noff �A�pplicant/Holder 01/25/2022 Signature _ Date Y miadenovs@icioud.com 585-278-3668 E-mail address Phone Number My Commission Expires October 11, 2025 Subscribed to and sworn before me My commission expires: this day of Jan 20,u JAKE MICHALSKI x �* Notary Public otary Public Signature Notary Seal r DISCLOSURE OF OWNERSHIP INTEREST-4 Elk Grove Village Class 6B Property Tax Terms and Agreement The APPLICANT shall perform the WORK upon the SUBJECT PROPERTY located at 119 Bond Street in accordance with the PLANS and in full compliance with all applicable codes, ordinances, rules, regulations, permits, and plans as outlined in Attachment A, imposed by the VILLAGE, and shall complete the WORK in a good and workmanlike manner or risk voiding this agreement. The WORK shall include all building and landscaping alterations as proposed by the APPLICANT in exchange for the VILLAGE'S approval of a Cook County Class 6B Property Tax Abatement. The APPLICANT, will be issued a Letter of Receipt upon submission of a completed Elk Grove Village Class 66 Application Packet. This letter may be used to inform the Cook County Assessor's Office that the Village of Elk Grove is in receipt of the Applicant's request for a Cook County Class 613 Property Tax Abatement. The Letter of Receipt is not a guarantee of final approval and the Applicant may move ahead with their project at their own risk. The Letter of Receipt will serve as official notice that the APPLICANT is eligible for the incentive, however, final approval is not complete until there is an official Resolution passed by the Village. The Resolution will not be executed until such time all proposed work is complete. The APPLICANT has 365 days from taking ownership or tenancy to complete all proposed alternations and submit a full accounting of costs. If costs are not consistent with promises made in the original application, the APPLICANT may not be granted a final resolution of 6B approval. This AGREEMENT sets forth all the promises, inducements, agreements, conditions and undertaking between the APPLICANT and the VILLAGE relative to the subject matter thereof, and there are no promises, agreements, conditions or understandings, either oral or written, expressed or implied, between them, other than as set forth herein. No subsequent alteration, amendment, change or addition to this AGREEMENT shall be binding upon the PARTIES hereto unless authorized in accordance with the law and reduced in writing and signed by them. In WITNESS WHEREOF, the parties hereto have executed this Agreement as set forth below: Village of Elk Grove Village 901 Wellington Avenue Elk Grove Village, IL 60007 Signed: Name: Craig B. Johnson Title: Mayor Date: Attest: Lorrie Murphy, Village Clerk ORD Real Estate LLC 119 Bond Street Elk Grove (Village, IL 60007 Signed: r KA�IAI Name: Stoian Mladenov Title: President Date: 3-22-2022 PAO Elk Grove Village Class 613 Property Tax Terms and Agreement Terms & Conditions Attachment A The APPLICANT shall perform the WORK upon the SUBJECT PROPERTY as outlined below... • Update facade, landscaping, and signage as proposed. • Reconstruct concrete deck drive per VL11age standards. • Reconstruct the drive apron per Village standards. • Clean rear storm water ditch of debris, remove overgrown bank with grass. • Add a new ADA accessible front walkway. • Tmprove parking lot and sL-ripe per Villaqe code. • Repave driveway. • Complete interior build out. Please note, all improvements must conform to Village codes and ordinances. At the time of plan review and permitting, the Village reserves the right to alter the applicant's plans to ensure conformity. The 6B will not be granted until all improvements are completed to the satisfaction of the Village. Any alteration of the proposed work by the applicant after Village Board approval requires additional Village Board approval. The aforementioned items must be completed in accordance with the application packet submitted and enumerated in the resolution.