HomeMy WebLinkAboutRes 27-11 08/02/2011 In Support of 601 CARBOY, LLC for Cook County Class 6B Tax AbatementRESOLUTION NO. 27 -11
A RESOLUTION IN SUPPORT OF 601 CARBOY, LLC,
601 CARBOY ROAD, 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, 601 CARBOY, LLC has requested the Village of Mount Prospect to support its
application for a Class 6B Real Property Classification at 601 Carboy Road, 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 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 601 CARBOY, LLC a Class
6B Property Classification from Cook County, which allows a 10% assessment level for the
first 10 years, 15% in the 11 year and 20% in the 12 year for the Subject Property
located at 601 Carboy Road and legally described as:
Lot 9 North in Elmhurst - Algonquin Industrial Park Unit No.2 being a subdivision in
the Southeast Quarter of Section 23, Township 41 North, Range 11 East of the
Third Principal Meridian in Cook County, Illinois, containing 51,684 square feet or
1.19 acres more or less.
PIN: 08 -23- 401 - 015 -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."
Page 2/2
601 CARBOY, LLC
Class 6B Tax Abatement
SECTION THREE: That development of the property is subject to compliance with all
requirements of the 1 -1 (Limited Industrial) District.
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: Hoefert, Juracek, Korn, Matuszak, Polit, Zadel
NAYS: None
ABSENT: None
PASSED and APPROVED this 2nd day of August, 2011
Irvana K. Wilks
Mayor
M. Lisa Angell
Village Clerk
HACLKO \WIN \MEMOS \RESOLUTION \Class 6 tax abatement601 carboyaug22011.doc