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HomeMy WebLinkAboutRESOLUTION - 15-17 - 3/28/2017 - Class 6B 1200 Lunt RESOLUTION NO. 15-17 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 1200 LUNT 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 1200 Lunt Avenue, in the Village of Elk Grove Village, Cook County, Illinois, with the Property Index Number 08-34- 202-028-0000 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 1200 Lunt Avenue, Elk Grove Village, Cook County, Illinois, identified by Property Index Number 08-34- 202-028-0000, 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 1 provided by the said Class 6B Tax Incentive Ordinance is necessary for the said development to occur on the subject property, legally described as follows: THE EAST 273 FEET OF LOT 78 IN CENTEX INDUSTRIAL PARK UNIT 49, A SUBDIVISION IN 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 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- 34-202-028-0000. 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. Replace dock drive, dock and driveway aprons to Village code; b. Resurface and stripe parking lot; c. Install storm water detention in parking lot; d. Install new dock seals and paint all dock doors and bollards; e. Install a new roof, f. Clean out drainage ditch and improve fagade, landscaping and signage. 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 2811 day of March 2017. APPROVED this 28th day of March 2017. APPROVED: Mayor Craig B. Johnson Village of Elk Grove Village ATTEST: Loretta M. Murphy, Village Clerk 2 Exhibit"A" SARNOFF w BIA(VASH 1t 0 11 is k 1, Special Circumstances Requested by 1200 Lunt LLC 1200 Lunt Ave., Flk Grove Whig" Illinois(PIN: 08-34-202-024±000 1200 Lunt 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 will be vacant for greater than 12 continuous months but less than 24 continuous months without a purchase for value and with special circumstances and substantial rehabilitation. The Applicant owns the subject property and plans on rehabilitating the same in order to lease to a warehousing,manufacturing and/or distribution user. The subject property consists of an approximately 87,360 square foot site with a roughly 52,266 square foot building that has been 100%vacant and unused since July 31,2016. The property is in need of substantial rehabilitation for any user to occupy the same. Therefore,the Applicant plans to invest approximately $550,297 to immediately rehabilitate the subject property. These improvements will be to replace the roof and roof deck, improve the concrete/asphalt(this will include but is not limited to: replace part of the dock wall, install a new wall handrail,replace the dock asphalt with concrete, bring the concrete aprons up to code, install an ADA compliant sidewalk, install new catch basins, replace the existing parking lot), update the fa4ade, add a new canopy, repair the masonry, install new lighting, update the landscaping and install a new illuminated sign as well as to complete other general maintenance. In addition, the Applicant plans to complete interior improvements upon securing a tenant. Please note,however,that all of the rehabilitation costs could significantly vary depending on a variety of factors such as market variances. The subject property may require additional improvements. The rehabilitation will create approximately 25 to 50 construction jobs. The Applicant is in the process of starting to market the subject property to industrial users. Additionally, the Applicant expects that an industrial user at the subject property will bring anywhere from 20 to 40 jobs to the same. Elk Grove Village can also expect that an industrial user at the subject property and its employees will invest commercially back into the community by visiting local establishments such as restaurants,gas stations,grocery stores and more. In addition,Elk Grove Village can expect that an industrial user at the subject property will attract business and various customers to the Village in the course of its operations. Based on our research an'd 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 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 will be vacant for grcater than 12 continuous months but less than 24 continuous months without a purchase for value and with special circumstances and substantial rehabilitation.