Loading...
HomeMy WebLinkAboutRESOLUTION - 34-10 - 6/15/2010 - CLASS 6B/1776 COMMERCE DRIVERESOLUTION NO. 34-10 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 1776 COMMERCE DRIVE, 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 6B, even though it has been vacant and unused for less than 24 months and has been purchased for value, 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 that the property is deemed "abandoned" for purposes of the incentive, 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 1776 Commerce Drive, in the Village of Elk Grove Village, Cook County, Illinois, with the following Property Index Numbers 08-26-100-014-0000, 08-26-100-015-0000, 08-26-100-016-0000, and 08-26- 100-017-0000, 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 1776 Commerce Drive, Elk Grove Village, Cook County; Illinois, legally described as follows, and with the Property Index Numbers 08-26-100-014-0000, 08-26-100-015-0000, 08-26-100-016- 0000, and 08-26-100-017-0000 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: LOTS 11, 14, 15, AND 16 IN FRISBIE SUBDIVISION OF PART OF THE WEST HALF OF THE NORTHWEST QUARTER OF SECTION 26, TOWNSHIP 41 NORTH, RANGE 11, EAST OF THE THIRD PRINCIPLE 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 amended Class 613 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 08-26-100-014-0000, 08-26-100-015-0000, 08-26-100-016-0000, and 08-26-100-017- 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 15`h day of June 2010. APPROVED this 15'h day of June 2010. ATTEST: Judith M. Keeizan, VillalZe Clerk Res6bTax 1776Commerce.2010 2 APPROVED: Mayor Craia B. Johnson Village of Elk Grove Village EXHIBIT A SPECIAL CIRCUMSTANCES Novaspect, Inc., the former lessee/occupant of 1776 Commerce Drive, Elk Grove Village, is an engineering company providing control valves, regulators, and process control systems to the industrial marketplace. They had occupied the building since it was built in 1976 containing 19,500 sf of warehousing, developmental engineering/process management and related office uses. Novaspect advised existing ownership in the fall of 2008 that they would be relocating to a facility outside of Cook County or to a property that already had an existing Class 6B designation in Cook County in order to reduce occupancy costs. In anticipation of Novaspect moving in late 2009/early 2010, the property was formally put on the market for sale or lease in February 2009 and only one legitimate user has toured the facility since that time primarily due to the abnormally high real estate taxes of approximately $3.70/sf. This property is at a competitive disadvantage in that it is located only blocks away from Devon Avenue and the DuPage County line where real estate taxes are less than one-half the amount of taxes at 1776 Commerce Drive. It is anticipated that any future user/occupant of this building could bring upwards of 55 to 60 new jobs working out of this location, primarily in the engineering and technology fields to the many industrial related companies in Elk Grove Village. Thank you for understanding the situation and for considering this request.