HomeMy WebLinkAboutRESOLUTION - 62-05 - 11/15/2005 - CLASS 6B - 1850 ARTHUR AVENUERESOLUTION NO. 62-05
A RESOLUTION DETERMINING THE APPROPRIATENESS FOR CLASS 6B STATUS PURSUANT TO THE COOK COUNTY REAL PROPERTY CLASSIFICATION ORDINANCE AS AMENDED JANUARY 1, 2000 FOR CERTAIN REAL ESTATE
LOCATED AT 1850 ARTHUR 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 January 1, 2000, 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.
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 1850 Arthur Avenue,
in the Village of Elk Grove Village, Cook County, Illinois, with the Property Index Number 08-35-301-042 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 1850 Arthur Avenue, Elk Grove Village, Cook County, Illinois, legally described as follows, and
with the Property Index Number 08-35-301-042 declared eligible for Class 6B status pursuant to the Cook County Real Property Classification Ordinance as amended January 1, 2000, 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:
Legal Description
Lot 209 in Centex Industrial Park Unit No. 106, Being a Subdivision in the West ½ of the Southwest ¼ of Section 35, Township 41 North, Range 11, East of the Third Principal Meridian,
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
Number
08-35-301-042.
Section 4. That the Mayor and Village Clerk are hereby authorized to sign any necessary documents to implement this Resolution.
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 13th day of December 2005
APPROVED this 13th day of December 2005
APPROVED:
Mayor Craig B. Johnson
Village of Elk Grove Village
ATTEST:
Ann I. Walsh
Village Clerk
EXHIBIT “A”
Special Circumstances
1. MODERNIZATION/DEFERRED MAINTENANCE – The subject property was built in 1967. As a result, the building requires a significant expenditure to update the office area for a new user.
In addition, all mechanical systems are in need of repair and modernization to accommodate the needs of a modern industrial entity.
2. BUILDING SIZE – The correct building size is 65,745 square feet with a limited opportunity for expansion. Current industrial users require larger facilities in order to house their
entire business operation – office, manufacturing and warehousing – in one facility.
3. BUSINESS COMPETITION – The property has been listed for sale since December 2004 with limited interest from potential purchasers. Given the existing real estate tax liability and
the proximity of Elk Grove Village to the collar counties of DuPage, Lake and Will counties, no serious interest exists without the availability of the Class 6b Tax Incentive.
Res6bTax1850ArthurSpecial.doc