HomeMy WebLinkAboutRes 40-17 12/05/2017 Support of Crew of Five Holdings, LLCRESOLUTION NO. 40-17
A RESOLUTION IN SUPPORT OF CREW OF FIVE HOLDINGS, LLC, 1250
FEEHANVILLE DRIVE, MOUNT PROSPECT, ILLINOIS, MAKING AN
APPLICATION FOR A 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, Illinois; 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 19, 2017, 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 6B, 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 fled 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, CREW OF FIVE HOLDINGS, LLC, has applied for or is applying for Class 6B
property status pursuant to said aforementioned ordinance and has requested the Village of Mount
Prospect support its application for certain real estate located at 1250 Feehanville Drive, Mount
Prospect, Cook County, Illinois, PIN: 03-35-104-027-0000, 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; and
WHEREAS, the Village of Mount Prospect has found that special circumstances exist in that, without
the Cook County property tax incentives, the Village of Mount Prospect is at a competitive
disadvantage with neighboring counties of Lake and DuPage in attracting industrial development; 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:
SE I"ION 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 property tax reduction from a 25%
assessment level to a 10% assessment level for the first 10 years, 15% for year 11 and 20% in year 12.
After year 12, the assessment level returns to the full 25% for the benefitting property and legally
described in Exhibit A attached hereto and made a part hereof; and
SECTION TWO: That the Village of Mount Prospect supports industrial growth, increased
employment and economic development and this proposed development is in furtherance of this goal.
The Board of Trustees of the Village of Mount Prospect further finds that this incentive is necessary
for development to occur on the property.
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: Grossi, Hatzis, Hoefert, Rogers, Saccotelli, Zadel
NAYES: None
ABSENT: None
PASSED and APPROVED this 5th day of December, 2017
Arlene A. j urace
Mayor
ATTEST:
12, bu
Karen Agoranos
Village Clerk
LOUIE I 01=11
- 'Elm�
Lot 303 in Kensington Center Resubdivision VHI as recorded in the office of the Cook County
recorder of Deeds on June 22, 1982 as Document 26268098, being a Resubdivision of Lots 303,
305 and 307 in Kenqirq)ton Center-PhaseTh e -A, said Kensington Center-Phast: 111ree-A being
a Subdivision and Resubdivision in part of lbe Nortllwcst 1/4 and the Northeilst 1/4 of Section
35, 'Township 42 North, Range 11, East of the Third Principal Meridian, according to the plat
thereof recorded in the Office of the Cook County Recorder of Deeds on May 4, 1981, as
Document 25859082, all located in Cook County, Illinois. ,
Conunonly known as: 1250 Feehanville Dr., Mount'llrospect, Illinois 60056
PIN: 03-35-104-027-001
17
PFS:003450.0067, M5544,6