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HomeMy WebLinkAboutRESOLUTION - 16-18 - 3/27/2018 - Class 6B - 825 Nicholas RESOLUTION NO. 16-18 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 825 NICHOLAS 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 825 Nicholas Boulevard, in the Village of Elk Grove Village, Cook County, Illinois, with the Property Index Numbers 08-26-309-006-0000 and 08-26-309-012-0000, 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 825 Nicholas Boulevard, Elk Grove Village, Cook County, Illinois, identified by Property Index Numbers 08-26-309-006-0000 and 08-26-309-012-0000, 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 6B Tax Incentive Ordinance is necessary for the said development to occur on the subject property, legally described as follows: LOT 10 IN CENTEX INDUSTRIAL PARK NORTH UNIT 2 A SUBDIVISION OF PART OF LOTS 2 AND 4 OF THE ESTATE OF HENRY LANDMEIER BEING A PART OF SECTIONS 26 AND 35, TOWNSHIP 41 NORTH, RANGE 11 EAST OF THE THIRD PRINCIPAL MERIDIAN, IN COOK COUNTY, ILLINOIS. LOT 11 IN CENTEX INDUSTRIAL PARK NORTH UNIT 3 A RESUBDIVISION OF PART OF LOT 2 IN THE SUBDIVISION OF THE ESTATE OF HENRY LANDMEIER BEING A PART OF SECTIONS 26 AND 35, 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 Numbers 08- 26-309-006-0000 and 08-26-309-012-0000. 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. New fagade, b. Landscaping and signage improvements; c. Parking lot repairs; and d. Interior 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: 6 NAYS: 0 ABSENT: 0 PASSED this 2711 day of March 2018. APPROVED this 27' day of March 2018. APPROVED: Mayor Craig B. Johnson Village of Elk Grove Village ATTEST: Loretta M. Murphy,Village Clerk 2 Exhibit "A" SARNOFF• A(.!CASH P H O P P R 11' Y T A X L A W Snccisal circumstances rcnuested by Source tinited Properties,LLC 825 Nicholas Blvd.. Elk Grove Villaee,Illinois(PINS: 08-26-309-0(I6l-012) Source United Properties,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, Source United,LLC,plans on occupying the entire facility for its use consisting of the equipment design, machining, metal fabrication and custom equipment design and build of products used in the industrial market. The subject property consists of an approximately 34,200 square foot site with a roughly 10,000 square foot building that has been vacant and unused since June 30,2017. The'property is in need of substantial rehabilitation. Therefore,the Applicant plans to invest approximately $100,000 to$150,000 to immediately rehabilitate the subject property. Based on initial inspections these improvements will be to install a new loading dock drive apron and parking lot drive apron per Elk Grove Village standards,install new exterior lighting, install a new dock awning,clean and tuckpoint the exterior brick as necessary, update the fagade, update the landscaping,install a new wall mounted backlit sign, install a new overhead door,repair the parking lot and add a new exterior concrete pad as well as to complete other general maintenance. The Applicant also plans on completing additional interior improvements, however,these exact improvements are not known at this time. Please note 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 10 to 20 construction jobs. Source United, LLC currently leases approximately 6,000 square feet in a building in Elk Grove Village located at 689 Chase Ave. and has 10(8 full-time;2 part-time)employees at that site. Source United,I.LC's business is growing and it needs to expand its operation as soon as possible. Therefore, Source United, LLC plans to move its entire operation to the subject property and bring all of its employees to the same and plans on adding approximately 10 new employees within the first 3 years at the property. Additionally, Source United,LLC will look to hire all qualified Elk Grove Village residents for future hires. Elk Grove Village can also expect that Source United, LLC and its employees will continue 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 Source United,LLC will continue to attract business and various customers to the Village in the course of its 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.