HomeMy WebLinkAboutRes 20-22 06/21/2022 in support of Stotan Industrial LLC's application for a Cook County Class 6B Tax Incentive for the Property located at 305 N. Wolf Road, Mount Prospect, IllinoisRESOLUTION NO. 20-22
A RESOLUTION IN SUPPORT OF
STOTAN INDUSTRIAL LLC'S APPLICATION FOR A COOK COUNTY
CLASS 613 TAX INCENTIVE FOR THE PROPERTY LOCATED AT
350 N. WOLF ROAD MOUNT PROSPECT ILLINOIS.
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, Stotan Industrial LLC, has requested the Village of Mount Prospect support its
application for the Class 6B Real Property Classification at 350 N. Wolf Road, 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:
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 Tax Incentive of a
property tax reduction from 25% 10 10% for years 1 through 10, 15% in year 11, and 20%
in year 12 from Cook County for the Property located at 350 N. Wolf Road and legally
described as:
LOT 1 IN WINONA SCHOOL SUBDIVISION IN THE NORTHEAST'/4 OF SECTION 35,
TOWNSHIP 42 NORTH, RANGE 11 EAST OF THE THIRD PRINCIPAL MERIDIAN,
ACCORDING TO PLAT THEREOF RECORDED FEBRUARY 3, 1984 AS DOCUMENT
LR3353847 (EXCEPTING THAT PART TAKEN FOR CONDEMNATION IN CASE
871-51412 DATED JUNE 16, 1988), IN COOK COUNTY, ILLINOIS
PIN: 03-35-200-026-0000,
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.
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AYES: Filippone, Gens, Matuszak, Rogers, Zadel
NAYS: None
ABSENT: Saccotelli
PASSED and APPROVED this 21 ST day of June, 2022
Karen M. Agora os
Village Clerk
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