HomeMy WebLinkAboutRes 08-16 03/01/2016 In Support of Lapmaster LLC Application for Extension of 6B Tax AbatementRESOLUTION NO. 08-16
A RESOLUTION IN SUPPORT OF LAPMASTER LLC,
501 WEST ALGONQUIN ROAD, MOUNT PROSPECT, ILLINOIS,
MAKING APPLICATION FOR AN
EXTENSION OF COOK COUNTY CLASS 6B TAX ABATEMENT
WHEREAS, the Village of Mount Prospect encourages community development to provide
for economic growth and career opportunities; and
WHEREAS, through property tax incentives offered by Cook County, various opportunities
exist for industrial properties in the Village of Mount Prospect, Cook County; and
WHEREAS, without the Cook County property tax incentives, the Village of Mount
Prospect is at a competitive disadvantage with the neighboring counties of Lake and
DuPage in attracting industrial development; and
WHEREAS, LAPMASTER LLC, has requested the Village of Mount Prospect support its
application for Extension of the Class 6B Real Property Classification at 501 West
Algonquin Road, Mount Prospect, Cook County (Property); and
WHEREAS, the corporate authorities of the Village of Mount Prospect believe that their
request is in the best interest of the economic development in the Village of Mount
Prospect.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND BOARD OF TRUSTEES
OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS:
SECTION ONE: That the Mayor and Board of Trustees of the Village of Mount Prospect
do hereby support and consent to the application for the Class 6B Renewal from Cook
County for the Property located at 501 West Algonquin Road and legally described as:
LOT ONE, IN KEOLYN PLASTICS, INC. SUBDIVISION OF THE NORTH 683.46 FEET
OF THAT PART OF THE NORTH EAST QUARTER OF SECTION 23, TOWNSHIP 41
NORTH, RANGE 11 EAST OF THE THIRD PRINCIPAL MERIDIAN, LYING WEST OF
THE EAST 20 ACRES OF SAID NORTH EAST QUARTER OF THE SOUTH EAST
QUARTER, IN COOK COUNTY, ILLINOIS.
PIN: 08-23-401-030-0000
SECTION TWO: That the Village of Mount Prospect supports industrial growth, increased
employment and economic development and the "property' is in furtherance of this goal.
SECTION THREE: That this Resolution shall be in full force and effect from and after its
passage and approval in the manner provided by law.
AYES:
Hoefert, Matuszak, Polit, Rogers, Saccotelli, Zadel
NAYS:
None
ABSENT:
Juracek
PASSED and APPROVED this 1 s t day of March, 2016.
v nww -11%
H:\CLKO\WIN\MEMOS\RESOLUTION\Class 6 tax abatement420kingstoncourtlechner.doc