HomeMy WebLinkAboutRESOLUTION - 32-88 - 5/10/1988 - CLASS 6B STATUS/2300 E. PRATT BLVDRESOLUTION NO. 32-88
A RESOLUTION FOR APPROVAL OF CLASS 6b INCENTIVE ABATEMENT
FOR PLANNED NEW CONSTRUCTION IN THE VILLAGE OF ELK GROVE
VILLAGE
WHEREAS, PRE -FINISH METALS, INC., lessee of the property commonly known
as 2300 East Pratt Avenue, in the Village of Elk Grove Village, proposes to
purchase and substantially rehabilitate an adjoining property, and to under-
take a program of expansion and remodeling of its existing leased premises,
at a cost estimated at $2,000,000; the viability of the said program being
dependent on the eligibility of the said property for Class 6(b) incentives;
and
WHEREAS, the permanent real estate tax index numbers of this property
are 08-35-403-061-0000 on the leased parcel and 08-35-403-059-0000 on the
parcel the purchase of which is proposed; and
WHEREAS, PRE -FINISH METALS, INC., has received, from the Office of the
Assessor of Cook County, acknowledgement of a "Pre -Eligibility Application"
for Class 6(b) classification under the Cook County Real Property Assessment
Classification Ordinance, adopted by the Cook County Board of Commissioners
on October 1, 1984; and
WHEREAS, PRE -FINISH METALS, INC., will, as a result of this aforesaid
new construction and substantial rehabilitation, significantly expand and
improve its facilities at the subject location; and
WHEREAS, the aforesaid program of new construction and substantial
rehabilitation will create additional temporary employment opportunities
during construction, and permanent employment opportunities in the expanded
facilities; and
WHEREAS, additional economic development is deemed to be a necessity
for the continued economic development and viability of the Village of Elk
Grove Village; and
WHEREAS, notwithstanding the Class 6(b) status of the subject property,
the expansion and substantial rehabilitation of the subject property by PRE -
FINISH METALS, INC., will generate significant new revenues in the form of
addition state and federal income tax revenues, local real estate and other
taxes.
NOW, THEREFORE, BE IT RESOLVED by the President and Board of Trustees
of the Village of Elk Grove Village, Counties of Cook and DuPage, State of
Illinois as follows:
Section 1. That the subject property is appropriate for Class 6(b)
incentive assessment under the Cook County Real Property Assessment Classi-
fication Ordinance of October 1, 1984.
Section 2. That this Resolution shall be in full force and effect
from and after its passage and approval according to law.
VOTE: AYES: 5
PASSED this 10th
APPROVED this 10th
Patricia S. Smith
Village Clerk
NAYS:
- 2 -
ABSENT: 1
day
of
May
1988.
day
of
May
1988.
Charles J. Zettek
Village President