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HomeMy WebLinkAbout1296_001/caf 8/24/94 vwl. 8/29/94 RESOLUTION NO. �WJW - ------ ........ 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 Du Page in attracting industrial development; and WHEREAS, Illinois Superconductor Corporation has requested the Village of Mount Prospect to support their application for a Class 6b real property classification; and WHEREAS, the corporate authorities of the Village of Mount Prospect believe that the request of Illinois Superconductor 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 Illinois Superconductor for a Class 6b Property Classification from Cook County, which allows a 16% assessment level for 8 years for the property identified in Exhibit "A" attached hereto and hereby made a part hereof and further identified by Permanent Index Number 03-35-200-054-000. SECTION TWO'W 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.* NAYS* A T T rE ST: Velma W. Lowe Deputy Village Clerk day of $ 1994. Gerald L. Farley Mayor 64