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Home My WebLink AboutRESOLUTION - 3-12 - 1/10/2012 - CLASS 6B - 2567 GREENLEAF AVE.RESOLUTION NO. 3-12 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 2567 GREENLEAF 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 special circumstances pursuant to said aforementioned ordinance, for certain real estate located at 2567 Greenleaf Avenue, in the Village of Elk Grove Village, Cook County, Illinois, with the Property Index Number 08-35-202-045-0000, 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 2567 Greenleaf Avenue, Elk Grove Village, Cook County, Illinois, legally described as follows, and with the Property Index Number 08-35-202-045-0000 declared eligible for Class 6B special circumstances 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 22 IN CENTEX INDUSTRIAL PARK UNIT #5 SUBDIVISION 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 08-35-202-045-0000. 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: 5 NAYS: 0 ABSENT: 1 PASSED this 10'h day of January 2012. APPROVED this 101' day of January 2012. APPROVED: Mayor Cram B. Johnson Village of Elk Grove Village ATTEST: Judith M. Keegan, Village Clerk R cAbTat] 567 Gnrnl eafsperial Exhibit "A" 911E J'AW OW]"M!61S (1'P LiSTONI & TSA_NTi-L zs A PRO1`RSStONdt, C'ORPORXPION s3No2rrlrnssla;r..�(xR1+,7cnts�i+l,Ic.,�ooa ota]cncto.n.r.INorsuorue 7381. -ANP. IdE'I'ON (3],0.560-16144 PI]OT.R TSANf1TLIS (ill -3) 1104 .480E C+\CSf:9:l Tili: (31-2) 6R0-I:iIL DCT'Industrial Trustor Assignee ("Applicant') plans on purchasing the property located at 2567 Greenleaf Ave. in•1:Ik Grove Village, lllindis'(PINs: 08-35-202-045-0000).. The Applicant also plans on rehabilitating tilesubject property and leasinig.the same to an industrial user for warehousing, manufacturing and/or -distribution. This;property consists of an approximately 124,200 square foot building on,a roughly 1:75;309 squarefoot site,thatis,now:1.00%vacant aitd'unused. Prior to the site becoming 100% vacant and unused, the subjeetprnperty was extremely'underutilized. In 2010, the suUject property was roughly 72%o vacant. The subject property became:approzimately 78% vacant in February and approximately 88% vacant in August 2011. The+subject property has been 100% vacant and.unused.since November 29, 2011. The subject property suffers from functional obsolesce and is in nce&ol'.signiticant improvements; and therefore, the Applicant has allotted approximately $2,163,353 to refurbishthe same as well as allowed $336;776: for tenant improvements. The overall improvements will be:niade with regard to, but not Iimited.to-site .utiIities, floors, ceilings, walls, doors, windows,,bathrooms,-plumbingJandscaping, fire. protection, HVAC, electrical, life safety of natural gas utility as well as other' general maintenance, Hhaddition, the:Applicantplans on removing the front office-to`increase parking. The s Applicant also'planon remodeling,4he true]( docks and demolishing the existing southeast bay:to allow for off sue6 tiuck loading and unloading. The above will reduceahe current size of the building from approximately 124;200 square feet to roughly 104;000 square feet. Tlie Applicant..expectsthat this site will bring approximately 50 to .106 employees„however, this is all contiingent:on the Applicant receiving a Class 6b Tax, Incentive. Without a_Class'6b in place on this property: the Apolicant,does not=I'elieve ifwill'be able to Successftdlyleaseahe site because -o'f the comparatively high taxes-causing-potentiaftenants to be forced to locate their operations eitherr to the collar counties where the taxes.are.consideiabiy lower.. or (o'another locationrwiihin,Cook Count), that either already-has'a Clrrss 6b_Incentive inplace,or that will grant them anew Class 6b° Incentive. The;Applicantbelieves the'Class 6b Incentive will.allow it topurchase,;rehabiliiate and. successfully lease the subject property to an industrial tenant, and therefore, f Il a formerly underutilized and Currentlyvacant.sitc Lind briing jobs to the Village of rlk Grove Village. It is for these reasons that it is necessary to grant title Applicant'a_Resolution supporting and consentigg-to a Class 6b'Ineentive,for [lie above -referenced l operty based on occupation of abandoned property for less than twenty-foun(24) months continuous vacancy with a purchase for value, special circumstances and substantial rehabilitation.