HomeMy WebLinkAboutRes 59-02 12/17/2002wjc
12/10/02
RESOLUTION NO. 59-02
A RESOLUTION IN SUPPORT OF CUMMINS ALLISON CORPORATION
MAKING APPLICATION FOR AN EXTENSION
OF A COOK COUNTY CLASS 6bTAX ABATEMENT
WHEREAS, the Village of Mount Prospect encourages community development to provide
for economic growth and career opportunities; and
WHEREAS, through propertytax incentives offered by Cook County, vadous 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 DuPage in attracting
and retaining industrial dewlopment; and
WHEREAS, Cummins Allison Corporation, has requested the Village of Mount Prospect to
support their application for an extension of their Class 6b real property classification at
891 Feehanville Drive; 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 of Cummins Allison Corporation, located
at 891 Feehanville Drive, for an extension of a Class 6b Property Classification from Cook
County, which allows a 16% assessment level for the first 10 years, 23% in the 11th year
and 30% in the 12th year for the property legally described as follows:
Lot 310-B in Kensington Business Center Resubdivision VII of Lot 310 in
Kensington Center Phase Three-A, being a part of the Northwest ¼ and the
Northeast ¼ of Section 35, Township 42 North, Range 11, East of the Third
Principal Meridian, Cook County, Illinois, according to the plat thereof recorded May
4, 1981 as document No. 25859082
Permanent Index Numbers: 03-35-102-025
03-35-102-026
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
ummins Allison
Page 2/2
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: Hoefert, Lohrstorfer, Skowron, Wilks, Zadel
NAYS: None
ABSENT: Corcoran
PASSED and APPROVED this 17th day of December, 2002.
ATTEST:
Vel
Village Clerk
Mayor
H :~,D MN~BILL\ORDINANC ~Curnrrins-Allison-6bextension- 121002 .doc