HomeMy WebLinkAboutRes 18-22 06/21/2021 In support of Andrews Products Inc., application for a renewal of their Cook County Class 6B Tax Incentive for the property located at 431 Kingston Court, Mount Prospect, IllinoisRESOLUTION NO. 18-22
A RESOLUTION IN SUPPORT OF
ANDREWS PRODUCTS INC.'S APPLICATION FOR A RENEWAL OF THEIR
COOK COUNTY CLASS 6B TAX INCENTIVE FOR THE PROPERTY LOCATED AT
431 KINGSTON COUry r� IO, RT",*F'R( (?j�T -ILLIRQ15
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, Andrews Products Inc., has requested the Village of Mount Prospect
support its application for Extension of the Class 6B Real Property Classification
at 431 Kingston Court, 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 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 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 431 Kingston Court and legally described as:
LOT 5 (EXCEPT THE NORTH 18 FEET) IN KENSINGTON CENTER
RESUBDIVISION 25 OF LOT 701 IN KENSINGTON CENTER PHASE 6, A
RESUBDIVISION OF OUTLOT 1 IN KENSINGTON CENTER PHASE 3-A,
A SUBDIVISION AND A RESUBDIVISION IN PART OF THE
NORTHWEST 1/4 AND THE NORTHEAST 1/4 OF SECTION 35 TOGETHER
WITH PART OF THE EAST 1/2 OF THE NORTHWEST 1/4 AND PART OF
THE NORTHEAST 1/4 OF SECTION 35 TOWNSHIP 42 NORTH, RANGE
11 EAST OF THE THIRD PRINCIPAL MERIDIAN, IN COOK COUNTY,
ILLINOIS
Property Index No. 03-35-200-069-0000; 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: Filippone, Gens, Matuszak, Rogers, Zadel
NAYS: None
ABSENT: Saccotelli
PASSED and APPROVED this 21st day of June 2021.
Paul µ W m .... _ _.... .m�...................
..�------
.-------------
. Hoe rt
Mayor
Karen M. Agoranos
Village Clerk