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HomeMy WebLinkAboutRESOLUTION - 5-17 - 1/24/2017 - Class 6B RESOLUTION NO. 5-17 A RESOLUTION DETERMINING THE APPROPRIATENESS FOR CLASS 611 STATUS PURSUANT TO THE COOK COUNTY REAL PROPERTY CLASSIFICATION ORDINANCE AS AMENDED JULY 17,2013 FOR CERTAIN REAL ESTATE LOCATED AT 2250 LIVELY 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,the Mayor and Board of Trustees, finds that special circumstances justify finding that the property is "abandoned" for purpose of a Class 6B designation, even though it has been vacant and unused for more than 12 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; 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 2500 Devon Avenue, in the Village of Elk Grove Village, Cook County, Illinois, with the Property Index Number 08-34-302-020-0000, and 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 Lively Boulevard, Elk Grove Village, Cook County, Illinois, and identified by Property Index Numbers 08-34-302-020-0000, declared eligible for Class 6B 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, legally described as follows: 1 LOT 312 IN CENTEX INDUSTRIAL PARK, UNIT 188, BEING A SUBDIVISION IN THE SOUTH '/2 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 tax incentives shall apply to the property identified as Permanent Real Estate Index Numbers 08-34-302-020-0000. 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. Relocating loading docks Lively Street to the North Side Parking Lot; b. Underground Detention; c. Extensive facade Enhancements; and d. New Landscaping and signage. 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 241h day of January 2017. APPROVED this 24th day of January 2017. APPROVED: Mayor Craig B.Johnson Village of Elk Grove Village ATTEST: Judith M. Keegan,Village Clerk 2 Exhibit"A" SARNOFF+BACCASH .Special Circumstances Rggoested by NILR11,2250 Uvety U.'.or an entity to be named 22541 Lively Blvd., EU(,'rovc Village,Minot,;O"IN: 418-34-302-020-0000 MLRP 2250 Lively LLC ("Applicant")is requesting a Resolution in support and consent of a Class 6b Incentive on the above-referenced property based on occupation of an abandoned property that has been vacant for greater than 24 continuous months without a purchase for value and with special circumstances, new construction and substantial rehabilitation. The Applicant owns the subject property and plans on completing inaJ or rehabilitation to the same in order to lease to a warehousing, manufacturing and/or distribution user. The subject property consists of an approximately 174,972 square foot site with a currently roughly 108,315 square foot building that has been 100%vacant and unused since March 31,2013. subject property has been sitting vacant for almost four years because it needs significant changes and updates and the taxes are far too high. Therefore,the Applicant plans to invest approximately $3,500,000 to complete significant changes and updates to the subject property. Specifically,the Applicant plans to demolish the existing two northern bays and construct new precast wall panels approximately 80 feet south of the existing wall,which will reduce the building's total square footage from approximately 108,315 to approximately 85,102, These changes will allow the Applicant to move the existing obsolete docks along Lively Boulevard to a truck court on the north side of the building that is sized appropriately for today's trucks. The new walls will be constructed of precast and glass, and the existing dock doors and tenant entries will be infilled with EIPS and glass. All existing metal panels that remain will be repainted to match the color scheme of the new elevations. In addition,the Applicant plans on installing a new parking lot with underground detention on the north side of subject property as well as adding new landscaping, The Applicant also plans on installing new plumbing, HVAC, fire and electrical systems as well as demolishing the existing office and installing a new approximately 3,000 square foot office at the north east comer of the building. Additionally,the Applicant plans on providing signage on the face or the building when a tenant is secured as well as completing other general maintenance. Please note,however,that all of the rehabilitation costs could significantly vary depending on a variety of factors such as market variances. Additional improvements may also be required. The rehabilitation will create approximately 100 to 125 construction jobs. The Applicant will be marketing the subject property to industrial users and has a strong history in Elk Grove Village of filling properties with good industrial tenants. Additionally, the Applicant expects that an industrial user at the subject property will bring anywhere from 50 to 100 jobs to the same. Elk Grove Village can also expect that an industrial user at the subject property 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,Elk Grove Village can expect that an industrial user at the subject property will attract business and various customers to the Village in the course of its operations. Based on our research and the significant 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 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 subject property based on occupation of an abandoned property that has been vacant for greater than 24 continuous months without a purchase for value and with special circumstances,new construction and substantial rehabilitation,