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HomeMy WebLinkAboutRESOLUTION - 16-17 - 3/28/2017 - Class 6B 220 Bond Street RESOLUTION NO. 16-17 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 220 BOND STREET, 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 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 220 Bond Street, in the Village of Elk Grove Village, Cook County, Illinois, with the Property Index Numbers 08- 22-102-027-0000, 08-22-102-028-0000 and 08-22-102-188-0000, 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 220 Bond Street, Elk Grove Village, Cook County, Illinois, identified by Property Index Numbers 08-22- 102-027-0000, 08-22-102-028-0000 and 08-22-102-188-0000, 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 I 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: LOT 17 (EXCEPT THIS SOUTH 57 FEET THEREOF) AND THE SOUTH 52 FEET OF LOT 18 IN HIGGINS ROAD COMMERCIAL SUBDIVISION UNIT NUMBER 1, BEING A SUBDIVISION IN THE WEST HALF OF SECTION 22, 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- 22-102-027-0000, 08-22-102-028-0000 and 08-22-102-188-0000. 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. Replace dock drive, dock aprons, and driveway aprons; b. Resurface and stripe parking lot; c. Clean out drainage ditch in rear; d. Improve fagade, 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: 6 NAYS: 0 ABSENT: 0 PASSED this 28th day of March 2017. APPROVED this 28th day of March 2017. APPROVED: Mayor Craig B. Johnson Village of Elk Grove Village ATTEST: Loretta M. Murphy,Village Clerk 2 Exhibit"A" to be naLued .4 i r entity Special Circumstances Requested by Excel COlOr C01-1101' t On,0 an 220 Bond St., U,lk Grove Village,Illinois(PINS:08-22-102-02ZL-_02_8_/-188J Excel Color Corporation,or an entity to be named, ("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 less than 24 continuous months with a purchase for value, special circumstances and substantial rehabilitation, The Applicant plans on purchasing the subject property and Excel Color Corporation plans on occupying the entire facility for its use consisting of the manufacturing of pigment dispersions that are used in the manufacturing of industrial coatings, sealants, plastics,artistic clay and more. The subject property consists of an approximately 43,000 square.foot site with a roughly 23,000 square foot building that has been 100%vacant and unused since April,2016. The property is in need of substantial rehabilitation. Therefore,the Applicant plans to invest approximately$54,200 to immediately rehabilitate the subject property. Based on initial inspections these improvements will be to update the fagade,update the entrance that will include adding a new canopy,tuckpoint the masonry,bring the aprons up to code,seal and re-stripe the parking lot,clear the existing drainage ditch and replace with drainage stone,update the landscaping and add new signage as well as to complete other general maintenance. The Applicant also plans on completing interior improvements,, however,these exact improvements are not known at this time. Please note, however,that all of the rehabilitation costs could significantly vary depending on a variety of factors such as market variances. Further inspections of the subject property may require additional improvements. The rehabilitation will create approximately 15 to 18 construction jobs. Excel Color Corporation currently owns an approximately 6,000 square foot building in Elk Grove Village at 110 Martin Lane and has approximately I I (all full-time)employees based at that site, Excel Color Corporation's business is growing and they need to expand their operation as soon as possible. Therefore,Excel Color Corporation plans to move its entire operation to the subject property and bring all I I of its employees to the property and plans on adding approximately 2 to 3 new employees as soon as possible at the property. Additionally,Excel Color Corporation will look to hire all qualified Elk Grove Village residents for future hires, Elk Grove Village can also expect that Excel Color Corporation and its employees will continue to 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 Excel Color Corporation will continue to 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 rehabi I itate 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 less than 24 continuous months with a purchase for value, special circumstances and substantial rehabilitation.