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HomeMy WebLinkAboutRESOLUTION - 12-09 - 3/10/2009 - CLASS 6B/2440 PRATT AVENUERESOLUTION NO. 12-09 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 2440 PRATT AVENUE, 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 6B, even though it has been vacant and unused for more than 24 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 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 that the property is deemed "abandoned" for purposes of the incentive, 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 2440 Pratt Avenue, in the Village of Elk Grove Village, Cook County, Illinois, with the Property Index Number 08- 35-403-067-0000, 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 2440 Pratt Avenue, Elk Grove Village, Cook County, Illinois, legally described as follows, and with the Property Index Number 08-35-403-067-0000 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 12 (EXCEPTING THEREFROM THE WEST 1431.80 FEET) IN CENTEX INDUSTRIAL PARK UNIT 2, BEING A SUBDIVISION IN SECTION 35, TOWNSHIP 41 NORTH, RANGE 11, EAST OF THE THIRD PRINCIPAL MERIDIAN, IN COOK COUNTY, ILLINOIS, ACCORDING TO THE PLAT OF SAID CENTEX INDUSTRIAL PARK UNIT 2, REGISTERED IN THE OFFICE OF THE REGISTER OF TITLES OF COOK COUNTY, ILLINOIS ON OCTOBER 24, 1958, AS DOCUMENT NUMBER LR1825316. 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 amended 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 08-35-403-067-0000. 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 101h day of March 2009 APPROVED this 101h day of March 2009 APPROVED: Mayor Craig B. Johnson Village of Elk Grove Village ATTEST: Ann I. Walsh, Village Clerk Rcs6hTax2440Prauspccia1 Exhibit "A" Special Circumstances Requested by CenterPoint Properties Trust The property consists of an approximately 185,767 square foot industrial building located on a roughly 312,525.square foot site The property is -in need of'signifcant improvements, and therefore CenterPoint has allotted approximately $400,000 to refurbish'the existing facility. The improvements to the site vrill.be made to the roof, structure, dock doors as well as other cosmetic improvements to attract potential industrial users CenterPoint expects the development to bring approximately 60 to 80 permanent full-time employees to the facility. However, this is all contingent on CenterPoint receiving a Class 6b Incentive. Based on our research and the additional costs that must be expended with respect to the building in order for this to be a successful endeavor, CenterPoint must possess a Class 6b -to be competitive in the marketplace and secure a tenant. CenterPoint has been unable to lease the property in over two years and the site is in need of significant improvements. It is for these reasons that it is necessary to grant CenterPoint the Class 6b Incentive with special circumstances on the property.