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HomeMy WebLinkAboutRESOLUTION - 22-09 - 4/28/2009 - CLASS 6B/850 PRATT BOULEVARDRESOLUTION NO. 22-09 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 850 PRATT 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 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 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 613 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 850 Pratt Boulevard, in the Village of Elk Grove Village, Cook County, Illinois, with the Property Index Number 08-34-305-034-0000, 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 850 Pratt Boulevard, Elk Grove Village, Cook County, Illinois, legally described as follows, and with the Property Index Number 08-34-305-034-0000 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: THE WEST 24 FEET OF LOT 35 AND ALL OF LOTS 36, 37, 38 AND 39 (EXCEPT THE WEST 24 FEET OF SAID LOT 39) IN CENTEX INDUSTRIAL PARK UNIT NO. 22, BEING A SUBDIVISION IN SECTION 34, TOWNSHIP 41 NORTH, RANGE 11, EAST OF THE THIRD PRINCIPAL MERIDIAN, ACCORDING TO THE PLAT THEREOF RECORDED SEPTEMBER 14, 1964 AS DOCUMENT 19243500, 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 08-34-305-034-0000. 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 28`h day of April 2009. APPROVED this 28`h day of April 2009. APPROVED: Mayor Craig B. Johnson Village of Elk Grove Village ATTEST: Ann I. Walsh, Village Clerk Res6h1'ax8 Wratt Boulevard Exhibit "A" Special Cimumstances Requested by Malmo -Pratt, LLC (operating as PMI Cartoning, Inc.) The property contains a 63,000 square foot building that was vacant at the time of its purchase by Malmo-natt, LLC and that by the time it is occupied will have been vacant and unused for nearly one year. Currently, the propeaty is vacant and in need of substantial rehabilitation Malmo -Pratt, LLC, has purchased this property and plans to invest roughly $150,000 to $200,000 to refurbish the existing facility. The improvements will be made to, but not limited to, the parking lot, office and lighting as well as updating the fire protection systems and emergency exits. PMI Cartoning, Inc is currently located in Arlington Heights in a Class 6b building with 55 employees and plans to relocate its operations to 850 Pratt Blvd_ in Elk Grove Village and begin its operations at this site with *75 employees with the likelihood of expanding to 80-95 employees within the next year. However, this is all contingent on Mglmo-Pratt, LLC receiving a Class 6b Iax Incentive_ Based on our research and the additional costs that must be incurred to rehabilitate the building in order for this to -be a successful endeavor, Malmo -Pratt, LLC must possess a Class 6b in order to successMy operate the facility. PMI Cwtoning, Inc. is cmiently located in a Class 6b facility in Arlington Heights and needs to . expand. PMI Cartoning, Inc. believes that this new facility will fit its needs moving forward, however, without a Class 6b, it will not be able to successfully operate at this site nor complete the substantial rehabilitation_ It is for these reasons that it is necessary to giant Malmo -Pratt, LLC a Class 6b Incentive based on occupation of abandoned property for less than twenty-four months continuous vacancy, with a purchase for value and special circumstances as well as substantial rehabilitation for the above -referenced property.