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HomeMy WebLinkAboutRESOLUTION - 38-12 - 9/11/2012 - CLASS 6B-1851 ARTHUR AVE.RESOLUTION NO. 38-12 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 1851 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 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 more than 24 months and there has been no purchase 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 613 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 special circumstances pursuant to said aforementioned ordinance, for certain real estate located at 1851 Arthur Avenue, in the Village of Elk Grove Village, Cook County, Illinois, with the Property Index Number 08-35-301-044-0000, 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 1851 Arthur Avenue, Elk Grove Village, Cook County, Illinois, legally described as follows, and with the Property Index Number 08-35-301-044-0000 declared eligible for Class 613 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 613 Tax Incentive Ordinance is necessary for the said development to occur on the subject property: LOT 211 IN CENTEX INDUSTRIAL PARK UNIT 108, A SUBDIVISION IN THE SOUTH Y OF THE SOUTHWEST'/4 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 amended Class 6B Application and approves the classification of the subject property as Class 613 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 08-35-301-044-0000. 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 11 n' day of September 2012. APPROVED this 11`I' day of September 2012. APPROVED: Mayor Cram B. Johnson Village of Elk Grove Village ATTEST: Judith M. Keegan, Village Clerk Res6h"I ax IN 5 I Arthurspecial TILE LAID OFFICES OF Exhibit "A" LISTON & TSANTILIS A PROFESSiONA 1, COR PORA rioN ` ':3:i NORTN'. i.ASALLh. S'rREE1`, 25'CFI FLOOR Crl10AG0.I1,1INOIS60002 AR1AN P: LISTOR (ala) 5B0.164)i .PETER TSANTILIS (313) 004-3808 FACSINITLE (:313) 680.1502 Special Circumstances Requested by Prologis-Exchange IL LLC 1851 Arthur Avenue; Elk Grove Village, Illinois 60007 (PIN: 08-35-301-044-0000) Prologis-Exchange 11, LLC (`:'Applicant") owns the above -referenced property and desires to lease the same to an industrial user for warehousing, manufacturing and distribution. The subject property consists of an approximately 83,192 square foot building on a roughly 165,600 square foot site that is now 100% vacant and unused. From August 2008 to the present day, there have been no operations taking place at the subject property, with the same being merely used as dead storage from May 2010 to October 2010. Accordingly, since August 2008, the subject property has been 100% vacant and unused. The subject property suffered from functional obsolescence and was in need'of' significant improvements; therefore, the Applicant.completed substantial rehabilitation to the subject property in hopes of leasing the same to an industrial user for warehousing, manufacturing and/or distribution. The, Applicant spent' approximately $939,920 in completing certain,improyements to the subject property,. Specitically, the improvements included„but were not limited to, renovating the -subject property's office area; painting the subject property's ceiling, deck, walls and interior; rehabilitating the subject property's roof and applying epoxy to the subject property's warehouse floors. The Applicant plans to continue its substantial rehabilitation of the subject property after it obtains the Village's support and consent of the,Class 6b Tax Incentive..[[ has allotted $400;OOQ in rehabilitating the subject property's parking lot. The Applicant expects this substantialrehabilitation to bring approximately 20 construction jobs to the community. The.Applicanc.believes that if'it secures a Class 6b Tax Incentive for the subject property, it will be able to Secure an industrial tenant, which will occupy the currently vacant building and bringjobs to the community.. Itis for these reasons that it is necessary. to grant, the .Applicant a Resolution supporting and consenting to a Class 6b`Tax Incentive for the above -referenced property based on occupation of abandoned property for more than twenty-four (24) months continuous vacancy. without a purchase for value and with special circumstances and substantial rehabilitation.