HomeMy WebLinkAboutRes 33-16 10/18/2016 In Support of Raptor 4, LLC Making Application for 6B Tax AbatementRESOLUTION NO. 33-16
A RESOLUTION IN SUPPORT OF RAPTOR 4, LLC 1401 FEEHANVILLE DRIVE
MOUNT PROSPECT, ILLINOIS, MAKING APPLICATION FOR A
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 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, RAPTOR 4, LLC, has requested the Village of Mount Prospect support its
application for the Class 6B Real Property Classification at 1401 Feehanville Drive, Mount
Prospect, Illinois
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 property tax reduction
from 25% to 10% for the first 10 years, 15% for year 11 and 20% in year 12. After year 12,
the assessment level returns to the full 25% for the benefitting property and legally
described as:
LOT 1 IN KINGSTON COURT RESUBDIVISION OF LOTS ONE AND TWO IN KENSINGTON CENTER-
RESUBDIVISON TWENTY-FIVE IN PART OF THE NORTHEAST Y< OF SECTION 35, TOWNSHIP 42
NORTH, RANGE 11, EAST OF THE THIRD PRINCIPAL MERIDIAN, ACCORDING TO SAID PLAT OF
KINGSTON COURT RESUBDIVISION RECORDED JANUARY 28, 2000 AS DOCUMENT 00075502, ALL IN
COOK COUNTY, ILLINOIS AND IS COMMONLY KNOWN AS 1401 FEEHANVILLE DRIVE, MOUNT
PROSPECT IL 60056
PIN 03-35-200-066-0000
SECTION TWO: That the Village of Mount Prospect supports industrial growth, increased
employment and economic development and the "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: Hoefert, Matuszak, Polit, Rogers, Saccotelli, Zadel
NAYS: None
ABSENT: Juracek
PASSED and APPROVED this 18th day of October, 2016.
Colleen E. Saccotelli
Mayor Pro Tern
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Karen M. Agorano
Deputy Village Clerk