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HomeMy WebLinkAboutRESOLUTION - 44-14 - 10/14/2014 - CLASS 6B, 360 BENNETTRESOLUTION NO. 44-14 A RESOLUTION DETERMINING THE APPROPRIATENESS FOR CLASS 6B STATUS PURSUANT TO THE COOK COUNTY REAL PROPERTY" CLASSIFICATION ORDINANCE AS AMENDED JULY 17, 2013 FOR CERTAIN REAL ESTATE LOCATED AT 360 BENNETT 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 �I Cook County Board of Commissioners, and amended from time to time, the most recent amendment becoming effective as of July 17, 2013, 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 613 property status pursuant to said aforementioned ordinance, for certain real estate located at 360 Bennett Road, in the Village of Elk Grove Village, Cook County, Illinois, with the Property Index Number 08-21- 202-016-0000, 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 360 Bennett Road, Elk Grove Village, Cook County, Illinois, legally described as follows, and with the Property Index Number 08-21-202-016-0000, declared eligible for Class 6B special circumstances status pursuant to the Cook County Real Property Classification Ordinance as amended July 17, 2013, 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 27 IN HIGGINS ROAD COMMERCIAL SUBDIVISION OF UNIT NUMBER 20, A RESUBDIVISION OF PART OF LOT 1 IN SCHARRINGHAUSEN'S SUBDIVISION OF THE NORTH 50 ACRES OF THE SOUTH % OF THE NORTHWEST'/40F SECTION 22 AND PART OF THE NORTH '/20F SECTION 21 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 Numbers . Section 4: That the Mayor and Village Clerk are hereby authorized to sign any necessary documents to implement this Resolution subject to the petitioner completing the following conditions within twelve months of closing: a. Demolition and repair of driveway and apron b. Landscaping ' c. Install stainless steel awning/canopy d. Refurbish storefront and electrical 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 14`h day of October 2014. APPROVED this 14`h day of October 2014. APPROVED: Mayor Craig B. Johnson Village of Elk Grove Village ATTEST: Judith M. Keegan, Village Clerk Cln,v 61336013cnnett Exhibit "A" SARNOFF . SACCA.SH - -_ __.__._.. -- .v -_ ..._. Y R O Y R. R T Y T A X L A W 360 Property LLC ("Applicant") is requesting a Resolution in support and consent of a Class 6b Incentive on the property located 360 Bennett Rd. in Elk Grove Village, Illinois (PIN: 08-21-202- 016-0000) based on occupation of abandoned property that has been vacant for less than twenty-four (24) continuous months with a purchase for value, special circumstances and substantial rehabilitation. The Applicant plans on purchasing the subject property and its related entity, SRC Electric LLC, will use the same for its own operations consisting of the light assembly, warehousing and distribution of electrical products. The subject property consists of an approximately 14,000 square foot site with a roughly 5,000 square foot building that has been 100% vacant and unused since April, 2014. The property is in need of substantial rehabilitation in order for any occupant to use the same. Therefore, the Applicant plans to invest approximately $54,000 to immediately rehabilitate the subject property. Based on initial inspections, these improvements will be to update the landscaping, repair exterior concrete, interior demolition and masonry, update the facade/storefront/awning/canopy, add signage and upgrade the electrical as well as for other general maintenance. Further inspections of the subject property may require additional improvements. This rehabilitation will create approximately 3 to 5 construction jobs. SRC Electric LLC currently leases approximately 2,000 square feet in Chicago, Illinois, and because its business has been growing it needs to expand its operations as soon as possible. SRC Electric LLC plans to move its entire operation to the subject property and bring all 12 (all full-time) of its current employees to the same. The subject property will serve as SRC Electric LLC's headquarters. In addition, SRC Electric LLC plans on adding approximately 3 to 4 (all full-time) new employees within the first few years at the subject property and will look to hire all qualified Village of Elk Grove Village residents for future hires. The Village of Elk Grove Village can also expect that SRC Electric LLC and its employees will invest commercially back into the community by visiting local establishments such as restaurants, gas stations, grocery stores and more, In addition, the Village of Elk Grove Village can expect that SRC Electric LLC will attract business and various customers to the Village in the course of its operations. Based on our research and the additional costs that.must be incurred to rehabilitate the building in order for this to be a successful endeavor, the Applicant must possess a Class 6b Incentive to complete the substantial rehabilitation thereof and to successfully operate the subject property. It is for these reasons that it is necessary to grant the Applicant a Resolution in support and consent of a Class 6b Incentive for the above -referenced property based on occupation of abandoned property for less than twenty-four (24) months of continuous vacancy with a purchase for value, special circumstances and substantial rehabilitation.