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HomeMy WebLinkAboutRes 06-11 03/15/2011 In support of CRP Holdings for Cook County 6B Tax AbatementRESOLUTION NO. 06 -11 A RESOLUTION IN SUPPORT OF CRP HOLDINGS A -2, LLC 1000 BUSINESS CENTER DRIVE, MOUNT PROSPECT, ILLINOIS, MAKING APPLICATION FOR COOK COUNTY CLASS 6B TAX ABATEMENT 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 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, CRP Holdings A -2, LLC has requested the Village of Mount Prospect to support its application for a Class 6B Real Property Classification at 1000 Business Center Drive Mount Prospect, Cook County (Property); and WHEREAS the Village of Mount Prospect has found that special circumstances exist in that the Village is at a competitive disadvantage with nearby DuPage and Lake Counties and their tax structure; and WHEREAS the Property has been vacant and unused for more than 24 continuous months and the Village of Mount Prospect has found that special circumstances exist which justify finding that the Property is abandoned for the purpose of Class 6B Real Property Classification; 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 PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS ACTING IN THE EXERCISE OF THEIR HOME RULE POWERS: SECTION ONE: That the President and Board of Trustees of the Village of Mount Prospect do hereby support and consent to the application of CRP Holdings A -2 for a Class 6B Property Classification from Cook County, which allows a 10% assessment level for the first 10 years, 15% in the 11 th year and 20% in the 12 year for the Subject Property located at 1000 Business Center Drive and legally described as: Page 2/2 CRP Holdings A -2, LLC Class 613 Tax Abatement That part of Lot 301 -A lying West of a straight line drawn from a point on the South line of said Lot 301 -A, 203.89 feet as measured along said South line West of the Southeast corner of said Lot 301 -A to a point on the North line of said Lot 207.24 feet as measured along said North line West of the Northeast corner of said lot 301 -A in Kensington Center Resubdivision 13 in the North' /2 of Section 35 Township 42 North, Range 11 East of the Third Principal Meridian, in Cook County, Illinois. PIN: 03 -35 -104- 057 -0000 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 "Property." SECTION THREE: That development of the property is subject to compliance with all requirements of the 1 -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: Juracek, Korn, Matuszak, Polit, Zadel NAYS: None ABSENT: Hoefert PASSED and APPROVED this 15 day of March 2011 Irvana K. Wilks Mayor M. Lisa Angell Village Clerk H: \CLKO \WIN \MEMOS \RESOLUTION \Class 6 tax abatement1000northbusinesscenterdrivemarch2011 .doc