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Home My WebLink AboutRESOLUTION - 55-14 - 12/16/2014 - CLASS 6B-751 PRATT RESOLUTION NO. 55-14 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 751 PRATT BOULEVARD, 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 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 613 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 751 Pratt Boulevard, in the Village of Elk Grove Village, Cook County, Illinois, with the Property Index Numbers 08- 34-307-004-0000, 08-34-307-006-0000 and 08-34-307-007-0000, has proven to this Board that 1 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 751 Pratt Boulevard, Elk Grove Village, Cook County, Illinois, legally described as follows, and with the Property Index Numbers 08-34-307-004-0000, 08-34-307-006-0000 and 08-34-307-007-0000, 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 6B Tax Incentive Ordinance is necessary for the said development to occur on the subject property: LOT 72 IN CENTEX INDUSTRIAL PARK UNIT NUMBER 43, A SUBDIVISION IN THE SOUTHWEST '/4 OF SECTION 34 TOWNSHIP 41 NORTH, RANGE 11 EAST OF THE THIRD PRINCIPAL MERIDIAN, IN COOK COUNTY, ILLINOIS. LOT 117 IN CENTEX INDUSTRIAL PARK UNIT NUMBER 84, A SUBDIVISION IN THE SOUTHWEST '/4 OF SECTION 34 TOWNSHIP 41 NORTH, RANGE 11 EAST OF THE THIRD PRINCIPAL MERIDIAN, IN COOK COUNTY, ILLINOIS. LOT 118 IN CENTEX INDUSTRIAL PARK UNIT NUMBER 84 IN THE SOUTHWEST ''/4 OF SECTION 34 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 2 tax incentives shall apply to the property identified as Permanent Real Estate Index Numbers 08- 34-307-004-000, 08-34-307-006-0000, 08-34-307-0107-0000. 834-307-004-000, 08-34-307-006-0000, 08-34-307-0107-0000. 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. Installation of landscaping, sealcoat and restripe parking lot, remove and replace concrete walks, remove curb stops behind building and tree on east side of building. b. Bring loading dock on north end of building up to code. c. Install new fagade element and signage. d. Interior demolition and office renovation, install energy efficient warehouse lights. e. Construct four new docks on east side of building and fill in and convert existing dock located on Pratt to a drive in. 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 16th day of December 2014. APPROVED this 16th day of December 2014. APPROVED: Mayor Craig B. Johnson Village of Elk Grove Village ATTEST: Judith M. Keegan, Village Clerk Cluss61375I Plan 3 E SARNOFF•BACCASH PROPERTY T A x L A IN Exhibit"A" Special Circumstances Requested by VK.751_Pratt.LLC i751'Pratt Blvd'..Llkt�Grove'Villu€te,`Illiiioi5�(EI1Vs a08 34 3020047;00(1:0071; VK 751 Pratt-LLC ("Applicant") is requesting a Resolution in support and consent of a Class 6b Incentive on the property located 751 Pratt Blvd. in Elk Grove Village, Illinois (PINS: 08-34-307- 004/-006/-007) based on occupation of an 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 leasing the same to Coast Connection, Inc. to use the site for its own operations consisting of warehousing and distribution. The subject property consists of an approximately 151,582 square foot site with a roughly Y 53,000 square foot building that has been 100%vacant and unused since July, 2014. The property is y in need of substantial rehabilitation in order for any occupant to use the same. Therefore, the 1 Applicant plans to invest approximately$709,485 to immediately rehabilitate the subject property. n Based on initial inspections, these improvements will be to update and install new landscaping, rehabilitate the parking lot, install new entry aprons, install a new fagade, install new signage, replace the sidewalk, interior demolition, install new energy efficient warehouse lighting, renovate the offices, drive in door conversion and install four new docks on the east wall as well as for other general J maintenance. Further inspections of the subject property may require additional improvements. This s rehabilitation will create approximately 10 to 15 construction jobs. Coast Connection, Inc. currently leases an approximately 30,000 square foot facility located at 297 Dunlay Ct. in Wood Dale, Illinois, and because its business has been growing it needs to expand its operations as soon as possible. Coast Connection, Inc. plans to move its entire operation to the s subject property and bring approximately 30 to 35 (all full-time) of its current employees to the same. . The subject property will serve as Coast Connection, Inc.'s headquarters:. In addition, Coast N Connection Inc. plans on adding approximately 10 employees (all full-time) within the first year of G. operations 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 Coast Connection, Inc. 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 Coast Connection, Inc. will attract business and various customers to the Village in the course of its operations. M l� Based on our research and the additional costs that must be incurred to rehabilitate the building and site in order for this to be a successful endeavor, the Applicant must possess a Class 6b Incentive t to complete the substantial rehabilitation thereof and to successfully operate the subject property. R It is for these reasons that it is necessary to grant the Applicant a Resolution in support and fi consent of a Class 6b Incentive on the above-referenced property based on occupation of an abandoned f property that has been vacant for less than twenty-four (24) continuous months with a purchase for value, special circumstances and substantial rehabilitation. r� a e t