HomeMy WebLinkAboutRes 32-94 09/06/1994 /~f
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RESOLUTION NO. 32-94
A RESOLUTION IN SUPPORT OF ILLINOIS SUPERCONDUCTOR
MAKING APPLICATION FOR COOK COUNTY CLASS 6b TAX EXEMPTION
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 new businesses to become established in Mount Prospect, Cook County; and
WHEREAS, without the Cook County property tax incentives, Mount Prospect is at a
competitive disadvantage with the neighboring counties of Lake and Du Page in attracting
industrial development; and
WHEREAS, Illinois Superconductor Corporation has requested the Village of Mount
Prospect to support their application for a Class 6b real property classification; and
WHEREAS, the corporate authorities of the Village of Mount Prospect believe that the
request of Illinois Superconductor 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 of Illinois Superconductor for a Class
6b Property Classification from Cook County, which allows a 16% assessment level for
8 years for the property identified in Exhibit "A" attached hereto and hereby made a part
hereof and further identified by Permanent Index Number 03-35-200-054-000.
SECTION TWO: That the Village of Mount Prospect supports industrial growth, increased
employment and economic development and this proposed development is in furtherance
of this goal. The Board of Trustees of the Village of Mount Prospect further finds that this
incentive is necessary for development to occur on the Subject Property.
SECTION THREE: That development of the property is subject to compliance with all
requirements of the I-1 (Light Industrial) District and development standards of the
Kensington Center for Business.
SECTION FOUR: That this Resolution shall be in full force and effect from and after its
passage and approval in the manner provided by law.
AYES: Clowes, Corcoran, Hendricks, Hoefert, Skowron, Wilks
NAYS: None
ABSENT: None
PASSED and APPROVED this 6th day of September , 1994.
~ Gerald L. Farle.~ ~ ~
Velrn~ W. Lowe
Deputy Village Clerk
EXHIBIT "A"
Lot 6 in in Kensington Center Resubdivision Twenty Five in part of the North half
of Section 35, Township 42 North, Range 11 East of the Third Principal Meridian
according to Plat filed for record February 1, 1989 in the Office of the Registrar of
Titles as Document LR-3, 770, 802, all in Cook County, Illinois.
Lot 6 Tax ID #03-35-200-054-000
451 Kingston Court