HomeMy WebLinkAboutRes 37-21 10/05/2021 In support of LIT Industrial Linited, making application for Cook County Class 6B Tax Incentive for The property located at 1743-1759 S. Linneman RoadRESOLUTION NO. 37-21
A RESOLUTION IN SUPPORT OF LIT INDUSTRIAL LIMITED,
MAKING APPLICATION FOR COOK COUNTY CLASS 6B TAX INCENTIVE FOR
THE PROPERTY LOCATED AT 1743-1759 S. LINNEMAN ROAD
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, LIT Industrial Limited has requested the Village of Mount Prospect
support its application for the Class 6B Real Property Classification at 1743-
1759 Linneman Road, Mount Prospect, Cook County (Property); and
WHEREAS, an Economic Disclosure Statement has been received and filed by
the Village of Mount Prospect; 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:
$ECTIONDN' :, 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 Tax
Incentive 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 1743-1759 Linneman Road and legally described as:
Lot 2 in Briarwood Business Center, being part of the northl/a of Section 23,
Township 41, North, Range 11, east of the Third Principal Meridian,
according to the Plat thereof recorded October 6, 2006 as Document
Number 0627931120 and Certificate of Correction recorded December 4,
2007 as document 0733839190, in Cook County, Illinois.
Less and Except;
That part of Lot 2 in Briarwood Business Center being part of the north 1/4 of
Section 23, Township 41 North, Range 11, east of the Third Principal
6b LIT res pg. 1 of 2
Meridian, according to the Plat thereof recorded October 6, 2006 as
document No. 0627931120, described as follows:
Beginning at the southwest comer of said Lot 2; thence north 00 degrees 46
minutes I 7 seconds west along the west line of said Lot 2 a distance of
48.00 feet; thence south 32 degrees 17 minutes 17 seconds east 63.15 feet
to a point on a line lying 10.00 feet (as measured at right angles) north of
and parallel with the southerly line of said Lot 2; thence south 63 degrees
23 minutes 19 seconds east along the last described parallel line 648.56 feet
to a point on the east line of said Lot 2; thence south 00 degrees 44 minutes
14 seconds east along said east line 11.26 feet to the southeast comer
thereof; thence north 63 degrees 23 minutes 19 seconds west along said
south 685. 73 feet to the point of beginning, in Cook County, Illinois.
PIN: 08-23-202-050-0000
SECTION WO That the Village of Mount Prospect supports industrial growth,
increased employment and economic development and 1743-1759 Linneman
Road is in furtherance of this goal.
E : That this Resolution shall be in full force and effect from
and after its passage and approval in the manner provided by law.
AYES: Filippone, Gens, Matuszak, Pissarreck, Rogers, Saccotelli
NAYS: None
ABSENT: None
PASSED and APPROVED this 5th day of October, 2021
Paul Wm. Ho ert
Mayor
Karen M. Agora os
Village Clerk
6b LIT res pg. 1 of 2