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HomeMy WebLinkAboutRESOLUTION - 13-10 - 2/23/2010 - CLASS 6B/425 CROSSEN AVENUERESOLUTION NO. 13-10 A RESOLUTION DETERMINING THE APPROPRIATENESS FOR CLASS 6B STATUS PURSUANT TO THE COOK COUNTY REAL PROPERTY CLASSIFICATION ORDINANCE AS AMENDED FEBRUARY 15, 2006 FOR CERTAIN REAL ESTATE LOCATED AT 425 CROSSEN 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 February 15, 2006, 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 425 Crossen Avenue, in the Village of Elk Grove Village, Cook County, Illinois, with the Property Index Number 08-27-200-048-0000, 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 425 Crossen Avenue, Elk Grove Village, Cook County, Illinois, legally described as follows, and with the Property Index Number 08-27-200-048-0000 declared eligible for Class 6B status pursuant to the Cook County Real Property Classification Ordinance as amended February 15, 2006, 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: LOT 223 IN HIGGINS INDUSTRIAL PARK, UNIT 158, BEING A SUBDIVISION IN THE NORTHEAST'/4 OF SECTION 27, 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 08-27-200-048-0000. 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: 6 NAYS: 0 ABSENT: 0 PASSED this 23`d day of February 2010. APPROVED this 23`d day of February 2010. APPROVED: Mayor Craig B. Johnson Village of Elk Grove Village ATTEST: Judith M. Keegan, Village Clerk Res6bTa\425 Crossenspeci al Exhibit "A" Special Circumstances Requested by Walter and Theresa Lowkis and Faster & Better Machining, Inc. Walter and Theresa Lowkis (collectively the "Applicant") have purchase the property located at 425 Crossen Ave. in Elk Grove Village, Illinois and plan to rehabilitate and lease the same to Faster & Better Machining, Inc ("Faster") a company which they own and operate. Faster will be using this site to manufacture, warehouse and distribute machine parts and molds. The subject property consists of an approximately 7,600 square foot building that by the time it is occupied in roughly April of this year, will have been vacant for nearly one year. Currently, the property is vacant and in need of substantial rehabilitation. The Applicant purchased the site for $500,000 and plans to invest roughly $70,000 to $90,000 to refurbish the existing facility. The improvements will be made to, but not limited to, the bathrooms, break room, landscaping, tuckpointing and parking lots. The Applicant also plans to construct new offices and conference rooms. In addition, the Applicant will be installing a new HVAC system and a drive in door. b Faster is currently located in Elk Grove Village and plans to relocate its entire operation within Elk Grove Village at 425 Crossen Ave. and bring all 5 of its current employees to this location with the likelihood of hiring an additional I to 2 employees within the next year. Faster will look to hire all qualified Village of Elk Grove Village residents for future hires. However, this is all contingent on the Applicant receiving a Class 6b Tax Incentive. Based on our research and the additional costs that must be incurred to rehabilitate the building in order for this to be a successful endeavor, the Applicant must possess a Class 6b Incentive in order to successfully operate the facility. Faster needs to expand and believes that this new facility will fit its needs moving forward, however, without a Class 6b Incentive, it will not be able to successfully operate at this site nor complete the substantial rehabilitation. It is for these reasons that it is necessary to grant the Applicant a Class 6b Incentive based on occupation of abandoned property for less than twenty-four months continuous vacancy, with a purchase for value, special circumstances and substantial rehabilitation for the above -referenced property.