HomeMy WebLinkAboutRes 07-05 03/01/2005
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2/23/05
3/28/05
RESOLUTION NO. 7-05
A RESOLUTION IN SUPPORT OF WIREFORMERS, INC., 500 CARBOY ROAD
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 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
industrial development; and .
WHEREAS, Wireformers, Inc. has requested the Village of Mount Prospect to support
their application for a Class 6B real property classification at 500 Carboy Road; 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 Wireformers, Inc., located at 500
Carboy Road, for a Class 6B property classification from Cook County, which allows a
16% assessment level for years one through ten, 23% for year eleven, and 30%
for year twelve, for the property legally described as follows:
Lot #6 in the Elmhurst-Algonquin Industrial Park - Unit No.2, a subdivision in
the southeast X of Section 23-41-11.
Permanent Index Number: 08-23-401-012-0000
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 occupancy to occur on the Subject Property
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Class 6B Tax Abatement
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:
Corcoran, Hoefert, Lohrstorfer, Skowron, Wilks, Zadel
NAYS:
None
ABSENT:
None
PASSED and APPROVED this 1st day of March, 2005.
vel~j X~
Village Clerk
H:\CLKO\files\WIN\RES\Class 68 tax abatement-Feb2005.doc
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