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HomeMy WebLinkAboutRESOLUTION - 2-18 - 1/9/2018 - Class 6B 1520 Pratt Blvd. RESOLUTION NO. 2-18 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 1520 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 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 1520 Pratt Boulevard, in the Village of Elk Grove Village, Cook County, Illinois, with the Property Index Number 08- 34-403-020-0000, 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 1520 Pratt Boulevard, Elk Grove Village, Cook County, Illinois, identified by Property Index Number 08- 34-403-020-0000, 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 I incentive 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: LOT 1 (EXCEPT THE WEST 15 FEET THEREOF) IN GEORGE ANDERSON RESUBDIVISION IN ELK GROVE VILLAGE BEING A RESUBDIVISION OF THE NORTHEAST 1/4 OF THE SOUTHEAST 1/4 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 6B 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 6B tax incentives shall apply to the property identified as Permanent Real Estate Index Number 08- 34-403-020-0000. 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. Refurbish both interior and exterior of the building including sidewalk; b. Install new canopy and lights over front entrance; c. Install new EIFS on fagade; d. Install new dock apron e. Update the landscaping and install new illuminated signage; and f. Office and warehouse build out. Section 5: That this Resolution shall be in full force and effect from and after its passage and approval according to law. VOTE: AYES: 5 NAYS: 0 ABSENT: 1 PASSED this 911 day of January 2018. APPROVED this 9th day of January 2018. APPROVED: Mayor Craig B. Johnson Village of Elk Grove Village ATTEST: Loretta M. Murphy, Village Clerk 2 EXHIBIT"A" SARNOFF®BmrAsti I", s' 'F_, N T_Y 'r A_X­ _f. A—"W— Special Circunistanc" Regue-stedby BW Pratt Boulevard.LL 1520, Pratt Blvd- Elk Grove Village. Illinois IN:08-34-40-3-020-0001 BW Pratt Boulevard, 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,special circumstances and substantial rehabilitation, The Applicant plans on purchasing the subject property and its related entity, Blue Water Builders, Inc.,plans on occupying approximately 51%of the facility for its use consisting of light assembly,warehousing and distribution of products used in the construction industry. The Applicant also plans on leasing the remaining approximately 49%of the facility to an industrial user. The subject property consists of an approximately 108,255 square foot site with a roughly 64,121 square foot building that has been 100%vacant and unused since December 2, 2017. The subject property is in need of substantial rehabilitation. Therefore, the Applicant plans to invest approximately $306,300 to immediately rehabilitate the subject property. Based on initial inspections these improvements will be to update the facade,update the landscaping,add a new illuminated and backlit monument sign as well as a new wall mounted illuminated and backlit sign,repair and paint existing exterior doors, tuckpoint where necessary,repair damaged masonry, install a new loading dock drive apron per Elk Grove Village standards,repair the sidewalk leading to the entrance,install new exterior windows, install new exterior lighting,repair and update the parking lot,install new metal awnings,paint the interior, upgrade the interior floors, update the office and upgrade the warehouse as well as to complete other general maintenance. Please note,however,that all of the rehabilitation costs could significantly vary depending on a variety of factors such as market variances. Further inspections of the subject property may require additional improvements. The rehabilitation will create approximately 25 to 30 construction jobs. Blue Water Builders,Inc. currently leases approximately 11,000 square feet in Elk Grove Village at 2450 United Lane and has 18 employees(all full-time). Blue Water Builders, Inc.'s busincss is growing and they need to expand their operation as soon as possible, Therefore, Blue Water Builders, Inc. plans to move its entire operation to the subject property and bring 18 of its employees to the property and plans on adding approximately 3 to 4 new employees (all full-time)as soon as possible at the property, Additionally, Blue Water Builders, Inc. will look to hire all qualified Elk Grove Village residents for future hires. In add'ition, the Applicant expects that an industrial user in the other approximately 49%of the facility should bring anywhere from 10 to 25 employees. Elk Grove Village can also expect that Blue Water Builders, Inc. and its employees as well as the other tenant to 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 Blue Water Builders, Inc. and the other tenant 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 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, special circumstances and substantial rehabilitation.