HomeMy WebLinkAboutRes 09-06 03/07/2006
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2/27/06
RESOLUTION NO. 09-06
A RESOLUTION IN SUPPORT OF EDOC, 555 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
WH EREAS, 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, eDOC has requested the Village of Mount Prospect to support its application
for a Class 6B Real Property Classification at 555 Business Center Drive, Mount Prospect,
Cook County (the Subject Property); 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
ACTINT 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 eDOC, for a Class 6B
Property Classification from Cook County, which allows a 16% assessment level for the
first 10 years, 23 % in the 11 th year and 30% in the 1 ih year for the Subject Property
located at 555 Business Center Drive and legally described for the property legally
described as follows:
LOT 108 IN KENSINGTON CENTER-PHASE THREE-A, BEING A
SUBDIVISION AND RESUBDIVISION IN PART OF THE NORTHWEST
~ AND THE NORTHEAST % OF SECTION 35, TOWNSHIP 42 NORTH,
RANGE 11, EAST OF THE THIRD PRINCIPAL MERIDIAN, AS PER
PLAT THEREOF RECORDED MAY 4,1981, AS DOCUMENT NUMBER
25859082, IN COOK COUNTY, ILLINOIS.
PIN (s)
03-35-1-2-009-0000
03-35-1-2-011-0000
Page 2/2
Class 6 Tax Abatement
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.
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:
Cocoran, Hoefert, Korn, Lohrstorfer, Skowron, Zadel
NAYS:
None
ABSENT:
None
PASSED and APPROVED this 7th day of March, 2006.
~KttJ4
ana K. Wilks
Mayor
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H:ICLKOlfilesIWINIRESIClass 6 tax abatement,edoc.mar.06.doc