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HomeMy WebLinkAboutRESOLUTION - 20-16 - 6/21/2016 - Class 6B, 650 Morse AveRESOLUTION NO. 20-16 A RESOLUTION DETERMINING THE APPROPRIATENESS FOR CLASS 6B STATUS PURSUANT TO THE COOK COUNTY REAL PROPERTY CLASSIFICATION ORDINANCE AS AMENDED JULY 17, 2013 FOR CERTAIN REAL ESTATE LOCATED AT 650 MORSE 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 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 650 Morse Avenue, in the Village of Elk Grove Village, Cook County, Illinois, with the Property Index Number 08-34-102-025-0000, 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 650 Morse Avenue, Elk Grove Village, Cook County, Illinois, identified by Property Index Number 08-34- 102-025-0000, 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 Village, Illinois, has determined that the incentive provided by the said Class 613 Tax Incentive Ordinance is necessary for the said development to occur on the subject property, legally described as follows: Lot 134 (except the West 253.53 feet, as measured along the North Line of said Lot) in Centex Industrial Park Unit 99, being a subdivision in the West '/z of Section 34, 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 613 Application and approves the classification of the subject property as Class 613 property pursuant to the Cook County Real Property Classification Ordinance and the Class 613 tax incentives shall apply to the property identified as Permanent Real Estate Index Number 08-34-102-025-0000. 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. Side drainage ditch shall be cleared of all trees and invasive brush and restored to a grass lined ditch; b. Remove and replace the parking lot apron, install a parking lot in accordance with Village Code including storm water detention; c. Remove and replace main building entrance which shall be ADA accessible; d. Update fagade, landscaping and sign. 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 211t day of June 2016. APPROVED this 211t day of June 2016. APPROVED: Mayor Craig B. Johnson Village of Elk Grove Village ATTEST: Judith M. Keegan, Village Clerk Exhibit "A" Special Ci reu instances Requested by Tradewater i:+GV, LI.0 650 Morse Ave,, FIk Grove Village, Illinois (PIN: 08-34-102-025-0000) Tradewater EGV, LLC ("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, new construction, substantial rehabilitation and special circumstances. The Applicant plans on purchasing the subject property and its related entity, Tradewater, LLC, plans on occupying the entire facility for its use consisting of the warehousing and processing of harmful CFC refrigerants (which are ozone depleting substances) for carbon credits under the California cap and trade program. The property consists of an approximately 30,000 square foot site with a roughly 12,000 square foot building that has been 100%n vacant and unused since January 1, 2015. The property is in need of substantial rehabilitation. Therefore, the Applicant plans to invest approximately $900,000 to rehabilitate the existing building and to construct an approximately 2,025 square foot addition on the west side of the building. This addition will house a multi-million dollar proprietary plasma arc gasification system. Based on initial inspections the improvements will be to pave the side yard to create additional parking spaces, upgrade the electricity to 1,200 amp service, add signage, update the facade and update the landscaping as well as to complete other general maintenance. The Applicant also plans on completing interior improvements, however, these exact improvements are still in development. At a minimum, it will include painting offices, installing a control room and installing windows on the east side of the building. Please note, however, that all of the rehabilitation costs could significantly vary depending on a variety of factors. Further inspections of the subject property may requite additional improvements. The rehabilitation will create approximately 30 to 40 construction jobs. Tradewater, LLC currently leases approximately 3,600 square feet at 415 N. Aberdeen St. in Chicago, Illinois. Tradewater, LLC plans to stay in its Chicago location and its 10 employees at that site will remain there. However, Tradewater, LLC needs to expand its operation and plans on expanding at the subject property. Tradewater, LLC plans on hiring three full-time employees as soon as possible at the subject property and hopes to add an additional one to two employees shortly thereafter. Additionally, Tradewater, LLC will look to hire all qualified Elk Grove Village residents for future hires. Elk Grove Village can also expect that Tradewater, LLC and its employees will invest commercially back into the community by visiting local establishments such as suppliers, restaurants, gas stations, grocery stores and more. In addition, Elk Grove Village can expect that Tradewater, LLC will attract business and various customers to the Village in the course of their operations. 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, the Applicant must possess a Class 6b Incentive to complete the substantial rehabilitation thereof and new construction 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, new construction, substantial rehabilitation and special circumstances.