HomeMy WebLinkAboutRes 13-24 03/05/2024 Application For A Renewal Of A Class 6B Incentive For Their Property Located At 1305 E. Algonquin Road, Mount Prospect, IllinoisRESOLUTION NO. 13-24
A RESOLUTION IN SUPPORT OF
SEEFRIED INDUSTRIAL PROPERTIES, INC. OR ITS ASSIGNEE'S
APPLICATION FOR A RENEWAL OF A CLASS 6B INCENTIVE FOR THEIR
PROPERTY LOCATED AT
1.305 E. ALGONQUIN LOAD MOUI' T PROSPECT,_1LLI OISS
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, Seefried Industrial Properties, Inc. has requested the Village of
Mount Prospect support its application for renewal of the Class 6B Real
Property Classification at 1305 E. Algonquin Road, Mount Prospect, Illinois,
Cook County; 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
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 1305 E. Algonquin Road and legally described as:
ALL OF LOT 2 LYING SOUTH OF THE SOUTHWESTERLY LINE OF ALGONQUIN
ROAD AS OCCUPIED (EXCEPT THE EAST 595 FEET THEREOF MEASURED AT
RIGHT ANGLES TO THE EAST LINE OF SAID LOT 2 ANO ALSO EXCEPTING
THEREFROM THAT PART THEREOF DESCRIBED AS FOLLOWS: BEGINNING AT
THE NORTHWEST CORNER OF SAID LOT 2 IN THE CENTER OF THE ALGONQUIN -
DES PLAINES ROAD RUNNING THENCE SOUTH ALONG THE WEST LINE OF SAID
LOT 1108.10 FEET; THENCE EAST AT RIGHT ANGLES TO SAID WEST LINE 296.13
FEET; THENCE NORTH PARALLEL TO SAID WEST LINE 951.25 FEET TO THE
CENTER LINE OF AFORESAID ROAD, AND THENCE NORTH 62 DEGREES 05
MINUTES 30 SECONDS WEST ALONG SAID CENTER LINE 335.10 FEET TO THE
PLACE OF BEGINNING) IN FRIEDRICH BUSSE JR -S DIVISION OF LAND IN SECTION
23, TOWNSHIP 41 NORTH, RANGE 11, EAST OF THE THIRD PRINCIPAL MERIDIAN,
AS RECORDED JANUARY 20, 1911 IN THE OFFICE OF THE COUNTY RECORDER
OF COOK COUNTY IN BOOK 113 OF PLATS, PAGE 21 AS DOCUMENT NUMBER
4709799, IN COOK COUNTY, ILLINOIS.
Property Index No. 08-23-102-005-0000
SECTI N T''NJhi►O: That the Village of Mount Prospect supports industrial
growth, increased employment and economic development and the subject
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: Dante, Filippone, Gens, Grossi, Matuszak, Saccotelli
NAYS: None
ABSENT: None
PASSED and APPROVED this 5th day March 2024.
Paul Wm. Hoeft
Mayor
ATTEST:
Karen M. Agorano
Village Clerk
Pg. 2 of 2 6b Seefried