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HomeMy WebLinkAboutRESOLUTION - 24-07 - 4/24/2007 - CLASS 6B/1040 BONAVENTURE DRRESOLUTION NO. 24-07 A RESOLUTION DETERMINING THE APPROPRIATENESS FOR CLASS 6B STATUS PURSUANT TO THE COOK COUNTY REAL PROPERTY CLASSIFICATION ORDINANCE AS AMENDED FEBRUARY 15, 2006 FOR CERTAIN REAL ESTATE LOCATED AT 1040 BONAVENTURE DRIVE, 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 February 15, 2006, 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. 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 1040 Bonaventure Drive, in the Village of Elk Grove Village, Cook County, Illinois, with the Property Index Number 08-31-400-041-0000, 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 1040 Bonaventure Drive, Elk Grove Village, Cook County, Illinois, legally described as follows, and with the Property Index Number 08-31-400-041-0000 declared eligible for Class 6B status pursuant to the Cook County Real Property Classification Ordinance as amended February 15, 2006, 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 1 IN JUST PANTS RESUBDIVISION OF LOT 2 IN ROHLWING GROVE UNIT 4, BEING A SUBDIVISION OF PART OF THE SOUTH''/2 OF SECTION 31, TOWNSHIP 41 NORTH, RANGE 11, EAST OF THE THIRD PRINCIPAL MERIDIAN, IN COOK COUNTY, ILLINOIS RECORDED ON FEBRUARY 23, 1978, AS DOCUMENT NO. 3000931, ACCORDING TO THE PLAT THEREOF REGISTERED IN THE OFFICE OF THE REGISTRAR OF TITLES OF COOK COUNTY, ILLINOIS ON DECEMBER 31, 1985 AS DOCUMENT NO. 3487187, 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 Number 08-31-400-041-0000. Section 4: That the Mayor and Village Clerk are hereby authorized to sign any necessary documents to implement this Resolution. 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 24`h day of April 2007 APPROVED this 241h day of April 2007 APPROVED: Mayor Craig B. Johnson Village of Elk Grove Village ATTEST: Ann I. Walsh, Village Clerk Ke,6b lug 104013unmeIII mespend Etruscan Developers, LLC P.O. Box 308 Exhibit "A" Elk Grove Village, IL 60143 The building is in a area that is not predominately industrial, for example next door to the immediate west is a Kinder Care children's day car center. The street is a dead end street, which doesn't provide easy access for employees, business etc. Our real estate agent has indicated that the current taxes on the property are much higher than most comparable properties in Elk Grove Village and the neighboring Cook County communities. Taxes in the area on other buildings., range from $2.50 - $3.00 per square foot respectively while the taxes on the ' property we are Interested in purchasing are $8.20 per.square foot. The building adjacent to the east is a 52,000 Sq. R. and the taxes are $1.82 per square foot. The current tax rate on the building will deter us from purchasing the building as the taxes alone are approximately $3,750.00 per month. Coupled with an estimated mortgage payment of $2,600.00 would make the monthly payments unaffordable.