HomeMy WebLinkAboutRes 32-20 06/16/2020 Xttrium Lab Inc, application for renewal of a class 68 incentive for their propertyRESOLUTION NO. 32-20
A RESOLUTION IN SUPPORT OF
XTTRIUM LABORATORIES INC'S APPLICATION FOR A RENEWAL OF A CLASS
6B INCENTIVE FOR THEIR PROPERTY LOCATED AT
1200 N. BUSINESS CENTER DRIVE,MOUNT PROSPECT TLS INOIS
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, Xttrium Laboratories Inc. has requested the Village of Mount
Prospect support its application for Extension of the Class 6B Real Property
Classification at 1200 N. Business Center Drive, 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 BYTHE MAYORAND BOARD OFTRUSTEES
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 of a property tax reduction from 25% to 10% for years 1 through 10,
15% in year 11, and 20% in year 12 from Cook County for the Property located
at 1200 Business Center Drive and legally described as:
THAT PART OF LOT 407 IN KENSINGTON CENTER RESUBDIVISION TWENTY
FOUR DESCRIBED LYING WEST OF THE WEST LINE OF LOT 402 IN
KENSINGTON CENTER -RESUBDIVISION FOURTEEN IN SECTION 35,
TOWNSHIP 42 NORTH, RANGE 11, IN THE KENSINGTON BUSINESS CENTER
RESUBDIVISION TWENTYFOUR OF LOTS 401 AND 402 IN KENSINGTON
CENTER RESUBDIVISOIN FOURTEEN AND LOT 403 IN KENSINGTON
CENTER -PHASE FOUR IN PART OF THE NORTHEAST QUARTER OF SECTION
35, TOWNSHIP 42 NORTH, RANGE 11, EAST OF THE THIRD PRINCIPAL
MERIDIAN, ACCORDING TO THE PLAT THEREOF RECORDED MARCH 30,
1989 AS DOCUMENT NUMBER T3782920, IN COOK COUNTY, ILLINOIS.
Property Index No. 03-35-201-012 and;
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: Grossi, Hatzis, Hoefert, Rogers, Saccotelli, Zadel
NAYS: None
ABSENT: None
PASSED and APPROVED this 16th day of June, 2020.
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Arlene A. Jurace
Mayor
Karen M. Agora s
Village Clerk