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HomeMy WebLinkAboutRESOLUTION - 33-12 - 7/10/2012 - CLASS 6B-1951 LANDMEIER ROADRESOLUTION NO. 33-12 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 1951 LANDMEIER ROAD, 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, 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 613 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 1951 Landmeier Road, in the Village of Elk Grove Village, Cook County, Illinois, with the Property Index Number 08-26-304-053-0000, 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 1T 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 1951 Landmeier Road, Elk Grove Village, Cook County, Illinois, legally described as follows, and with the Property Index Number 08-26-304-053-0000 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 1 (Except the North 10 feet thereot) in McKone's Resubdivision in Elk Grove Village, being a Resubdivision in Section 26, 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 08-26-304-053-0000, 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 10t1i day of July 2012. APPROVED this 101h day of July 2012. APPROVED: Mayor Craig B. Johnson Village of Elk Grove Village ATTEST: Judith M. Keegan, Village Clerk Rcs6b Fax 1951 l audnicier COLAW OFFICE RYOj� 1699 Wall Street Suite 702, Mt. Prospect, Illinois 60056 Bl T.847.472.9221 I F.847.364.9944 I www.coryolaw.com Exhibit "A" Special Circumstances The property contains a 41,225 square foot building that has been vacant and unused for approximately 1 year and two months. The prior occupant, who operated a printing business, vacated the property 14 months ago; and the property has been vacant since. Mr. Bob Lu, owner of Sina International Corporation, would like to purchase the building and plans to invest up to $200;000 to renew the interior of the building. This development will bring approximately 9 new permanent employees in addition to the relocation of the existing 17 employees. Furthermore, construction work for the development will create a number of construction jobs in the area as well. Mr. Lu, after thorough research, has decided to purchase the property and has planned to make substantial updates to the property to make the property viable. This additional investment on the property cannot be made without considering compensation from.6(b) tax incentive benefits. Therefore, he has entered into a purchase contract with the current owner of the property contingent upon a 6(b) tax incentive approval. Without the tax incentive, he would not be able to perform renovations of the property, and the planned development goal cannot be achieved. It is for these reasons that it is necessary to grant Mr. Lu the Class 6B Incentive with Special Circumstances for vacancy.