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HomeMy WebLinkAboutRESOLUTION - 55-12 - 12/11/2012 - CLASS 6B - 2250 ARTHUR AVENUE RESOLUTION NO. 55-12 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 2250 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 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 2250 Arthur Avenue, in the Village of Elk Grove Village, Cook County, Illinois, with the Property Index Number 08-35-403-057-0000, 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 2250 Arthur Avenue, Elk Grove Village, Cook County, Illinois, legally described as follows, and with the Property Index Number 08-35-403-057-0000 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 613 Tax Incentive Ordinance is necessary for the said development to occur on the subject property: The West 18 feet of Lot 78, Lots 79 to 81 and Lot 82 (Except the West 68 Feet) in Centex Industrial Park Unit 8, a Subdivision in 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 6B property pursuant to the Cook County Real Property Classification Ordinance and the Class 613 tax incentives shall apply to the property identified as Permanent Real Estate Index Number 08-35-403-057-0000. 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"i day of December 2012 APPROVED this 11t' day of December 2012 APPROVED: Mayor Craig B. Johnson Village of Elk Grove Village ATTEST: Judith M. Keegan, Village Clerk kcs6h22,UA1'Ihur A rc Exhibit A THE LAW OFFIOFA OF LISTON & TSANTILIS A PROFF,SWONALCORPORATION 33.NORTH LASALLE STREET.26TH FLOOR OHIOAGO.ILIANOIS 60602 BRIAN P.LISTON(312)680.1604 PETER TSANTILIP(312)604-3808 FACSIMH.E(312)630-1602 Special Circumstances Requested by Cabot II14L1W10;LLC 2250 Arthur Avenue,Elk Grove Village,Illinois 60007 PIN: 08-35-403-057=0000 Cabot III-ILI W10,LLC ("Applicant")owns the property located at 2250 Arthur Avenue in Elk Grove Village, Illinois(PIN:08-35403-057-0000)and plans to lease the subject property to RelaDyne, Inc. for its use as a warehouser and distributor of automotive and industrial supplies and equipment. The subject property consists of an approximately 76,430 square foot building on a roughly 139;763 square foot site that has been 1006/o vacant and unused since October 27, 2010. The previous occupant of the subject property,Complementary Coatings Corporation ("Complementary Coatings"),occupied 100%of the subject property as of March 3,2008. Between March 4,2008 and October 26,2010,the entity was winding down its operations at the subject property, as the company was purchased by a third-party, during which time the property was underutilitzed. From October 27, 2010 to the present date, the subject property has been 100%vacant and unused. The.subject property is in need of significant improvements, and therefore,the Applicant has allotted approximately$368,000 to rehabilitate the same. The improvements will be made with regard to, but not limited to the subject property's office area, carpeting,electrical systems, interior walls,exterior paving, HVAC systems,drainage system and lighting system. The above improvements will likely create an estimated 10 to 30 construction jobs. RelaDyne, Inc. is located throughout the country, including several locations throughout the Chicagoland-area. It currently leases and operates at roughly 13,000 square feet in Elk Grove Village, which comprises of the facilities at 1490 Jarvis Avenue, 1500 Jarvis Avenue and 1510 Jarvis Avenue. RelaDyne plans to transfer all of its operations from these properties to the subject property(along with its 25 full-time and one part-time employee from the same)thus consolidating and expanding its operations while increasing its total building square footage in the Village by approximately 588%. It hopes to hire an additional approximately 7 full-time employees and one part-time employee to work at the subject property within the first few years of occupying the site. RelaDyne, Inc. will look to hire all qualified Village of Elk Grove Village residents for future hires; however, the above is contingent on the Applicant receiving a Class 6b Tax Incentive. TIIG LAW OFFIOF4 OF LISTON & TSANTILIS Special Circumstances Page 2 It is 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 greater than twenty-four(24) months continuous vacancy without a purchase for value but with special circumstances and substantial rehabilitation.