HomeMy WebLinkAbout8.1 A RESOLUTION IN SUPPORT OF MV HOLDINGS, LLC'S APPLICATION FOR A COOK COUNTY CLASS 6b INCENTIVE FOR THE PROPERTY LOCATED AT 801 E. BUSINESS CENTER DRIVE, MOUNT PROSPECT, ILLINOISt�.f)AAI1C 1�d'+rn�iect
Item Cover Page
Subject•LUTION IN SUPPORT OF MV HOLDINGS,
LLC'S APPLICATION FOR A COOK
6b INCENTIVE • . PROPERTY LOCATED AT
801 DRIVE, MOUNT
PROSPECT, ILLINOIS
Meeting June 1, 2021 - REGULAR MEETING OF THE MOUNT
PROSPECT VILLAGE BOARD -
Fiscal Impact false
Dollar Amount
Budget Source
Category NEW BUSINESS
Type Action Item
Attached to this memorandum is a resolution that would grant approval of a Class 6b
property tax incentive for MV Holdings (MV) for their property located at 801 E. Business
Center Drive. If approved, MV would lease the property to GAM Enterprises, Inc. (GAM)
who would move from their current facility at 901 E. Business Center Drive. GAM has been
located at this location for several decades and would expand their footprint in the new
location across the street from their current facility. Staff has been working with GAM
representatives for the past several years to find them a larger facility in Mount Prospect to
enable them to expand their operations.
The Village has granted several Cook County Class 6b tax incentives to attract and retain
businesses. The 6b incentive reduces the assessment level for qualified manufacturing and
warehouse/distribution facilities 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. The 6b incentive can also be renewed for additional 12 -year terms if
supported by the Village.
GAM currently employs 29 full time individuals consisting of management, administrative
support and skilled technicians. They intend to grow their employee count by 5 to 8
1
additional staff once they move into the larger space at 801 Business Center Drive. GAM
is a U.S. manufacturing company and a complete source for Robotic and Servo
Gear Reducers, Rack & Pinion Systems, Servo Couplings, Linear Mounting Kits,
and other precision mechanical drive solutions used in motion control and
automation technology.
MV is requesting the Class 6b to reduce their taxes at around $2.40 per square foot for
their property. If the request is not granted, they estimate that their tax bill would be
around $1.91 per square foot as a fully vacant property. Similar properties in nearby Lake
and DuPage County range from $1 to $1.50 per square foot.
STAFF RECOMMENDATION: Staff recommends that the Village Board approve a
resolution in support of MV Holding LLC's application for a Cook County Class 6b
incentive for the property located at 801 E. Business Center Drive.
Alternatives
1. Approve a resolution in support of MV Holding LLC's application for a Cook
County Class 6b incentive for the property located at 801 E. Business Center
Drive.
2. Discretion of the Village Board.
Staff Recommendation
Staff recommends that the Village Board approve a resolution in support of MV
Holding LLC's application for a Cook County Class 6b incentive for the property
located at 801 E. Business Center Drive.
ATTACHMENTS:
MV-GAM_6 b_req uest. pdf
class 6b request MV holdings 801 E. Business Center Drive.pdf
2
M
THE LAW OFFICES OF
LISTON & TSANTILIS
A PROFESSIONAL CORPORATION
33 NORTH LASALLE STREET, 28TH FLOOR CHICAGO. ILLINOIS 60602
BRIAN P. LISTON (312) 580-1594 PETER TSANTILIS (312) 604-3808 FACSIMILE (312) 580-15922
May 6, 2021
VIA EMAIL
William J. Cooney
Director of Community Development
Village of Mount Prospect
50 S. Emerson Street
Mount Prospect, IL 60056
RE: Class 6b Resolution Request
MV Holdings, LLC
801 E Business Center Drive
Mount Prospect, IL 60056
PIN: 03-35-102-015-0000
Dear William:
MV Holdings, LLC (the "Applicant") is the contract -purchaser of the above -referenced property (the
"Subject Property"), and is requesting a Resolution from the Village of Mount Prospect supporting and
consenting to a Class 6b Tax Incentive for the Subject Property based on New Construction, Substantial
Rehabilitation, and Occupation of Abandoned Property — With Special Circumstance. The Subject Property
has been vacant since March 2021.
The Subject Property currently consists of a 40 year-old vacant industrial building that is
approximately 37,200 square feet, sited on approximately 122,982 square feet of land. Gain Enterprises, Inc.
(the "Occupant") plans to occupy the vacant building and use the site to expand its growing manufacturing
and distribution business. The Occupant is currently located at 901 E. Business Center Drive, Mount
Prospect, Illinois 60056. The Applicant will develop the Subject Property into a larger facility than the
15,000 square foot facility currently used by the Occupant, and will allow it to continue its growth and to
hire additional employees as it expands its operations.
Gain Enterprises, Inc. was founded in 1990 as a master distributor for mechanical products and, over
the past five years, has expanded its operations to become a manufacturer of these products. Specifically,
Gain Enterprises, Inc. manufactures and warehouses a wide range of engineering products, including robotic
gearboxes, servo couplings, and linear mounts. The Occupant manufactures aluminum and steel components
for these engineering products on CNC machines and performs final assembly of those components into the
finished products. The Occupant also recycles all of its products, and will be installing LED lighting in the
Subject Property.
After closing, the Applicant plans to vacate its current location, and make various improvements and
renovations to the Subject Property. Once improvements are finished, the Occupant plans to occupy the
entire Subject Property. The Occupant currently employs 29 full-time employees, and plans to transfer these
employees to the new location. It plans to hire five (5) to eight (8) new employees over the course of the next
year, and will look to qualified Mount Prospect residents for its hiring.
THE LAW OFFICES OF
LISTON & TSANTILIS
After purchasing the Subject Property for $1,674,000, the Applicant plans to invest approximately
$1,201,512 in improvements into the property, which will result in approximately twenty (20) temporary
construction jobs. Please see the attached budget for a detailed list of improvements.
After the acquisition and completion of the project, the Subject Property is projected to have a market
value of approximately $2,875,512, which would generate an estimated $1,071,300 in total taxes over the
life of the Class 6b Tax Incentive (approximately $89,275 per year). Without the incentive and at full
vacancy, the Subject Property would generate a total of only $852,963 in total taxes (approximately $71,080
per year) over the life of the incentive. Therefore, should the Class 6b Tax Incentive be approved, the Subject
Property would generate an additional $218,337 in real estate taxes over the life of the Class 6b Tax
Incentive. Please see the attached "12 Year Tax Comparison Chart."
In addition to increased property tax revenues, the establishment of the Occupant's operation at the
Subject Property will significantly benefit the Village's community and economy. The Occupant's
employees will frequent Village restaurants, gas stations, stores, and more.
Without the assistance from the Class 6b Tax Incentive, the Applicant will not purchase the Subject
Property. The Applicant has determined that the without the incentive, the heavy Cook County property tax
burden may require it to bring its operations to a neighboring county, state, or community. In the event the
Applicant does not close on the Subject Property, it will remain vacant and unused, thereby lowering its total
taxes.
Based on the foregoing, the Applicant requests that the Village of Mount Prospect review its Class 6b
Tax Incentive request and approve a Resolution supporting and consenting to a Class 6b Tax Incentive for
the Subject Property based on New Construction, Substantial Rehabilitation, and Occupation of Abandoned
Property — With Special Circumstance. Should you need any additional documentation or have any questions
or concerns, do not hesitate to contact me at (312) 604-3812 or via email at mciulla@ltlawchicago.com.
Respectfully Submitted,
Michael A. Ciulla, Esq.
Encls.
It
R
COOK COUNTY ASSESSOR
FRITz KAEGI
Il �00,z
14 0 , COOK COUNTY ASSESSOR'S OFFICE
118 NORTH CLARK STREET, CHICAGO, IL 60602
PHONE: 312.443.7550 FAx: 312.603.6584
1", 0 WWW.COOKCOUNTYASSESSOR.COM
"rl I N
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CLASS 6B
ELIGIBILITY APPLICATION
Carefully review the Class 6B Eligibility Bulletin before completing this Application. For assistance, please contact
the Assessor's Office, Development Incentives Department (312) 603-7529. This application, a filing fee of
$500.00, and supporting documentation (except drawings and surveys) must be filed as follows:
This application must be filed PRIOR TO the commencement of New Construction or PRIOR TO the
commencement of Substantial Rehabilitation Activities or PRIOR TO the commencement of Reoccupation of
Abandoned Property.
Applicant Information
Name: MV Holdings, LLC
Company:
Address: 901 E. Business Center Drive
City: Mount Prospect
Email: gary@gamweb.com
Contact Person (if different than the Applicant)
Name: Gary Michalek
Company: Gam Enterprises, Inc.
Address: 277 Hibbard Road
City: Winnetka
Email: gary@gamweb.com
Property Description (per PIN)
Telephone: () 847-323-4093
State: IL Zip Code: 60056
Telephone: (_) 847-323-4093
State: IL Zip Code: 60093
If you are applying for more than three different PINs, please submit the additional PIN information in an
attachment.
Street Address: (1) 801 East Business Center Drive
Permanent Real Estate Index Number: 03-35-102-015-0000
(2)
Permanent Real Estate Index Number:
(3)
Permanent Real Estate Index Number:
City: Mount Prospect
Township: Wheeling
State: I L
Zip Code: 60056
Existing Class: 593
Attach legal description, site dimensions and square footage and building dimensions and square footage.
W
Identification of Person Having an Interest in the Property
Attach a complete list of all owners, developers, occupants and other interested parties (including all beneficial
owners of a land trust) identified by names and addresses, and the nature and extent of their interest.
Industrial Use
Attach a detail description of the precise nature and extent of the intended use of the subject property, specifying
in the case of the multiple uses the relative percentages of each use.
Include copies of materials, which explain the occupant's business, including corporate letterhead, brochures,
advertising material, leases, photographs, etc.
Nature of Development
Indicate nature of proposed development by checking the appropriate space:
[x] New Construction (Read and Complete Section A)
[x] Substantial Rehabilitation (Read and Complete Section A)
Incentive only applied to the market value attributable to the rehabilitation
Occupation of Abandoned Property - No Special Circumstance
(Read and Complete Section B)
[x] Occupation of Abandoned Property - With Special Circumstance
(Read and Complete Section Q
Occupation of Abandoned Property - (TEERM Supplemental Application)
(Read and Complete Section Q
Occupation of Abandoned Property - (CEERM Supplemental Application)
(Read and Complete Section Q
SECTIONA (NEW CONSTRUCTION/SUBSTANTIAL REIIABILITA 17"
If the proposed development consists of New Construction or Substantial Rehabilitation, provide the following
information:
Estimated date of construction
commencement (excluding demolition, if any): Q3/Q4 2021
Estimated date of construction completion: Q1/Q22022
Attach copies of the following:
1. Specific description of the proposed New Construction or Substantial Rehabilitation
2. Current Plat of Survey for subject property
3. Is' floor plan or schematic drawings
4. Building permits, wrecking permits and occupancy permits (including date of issuance)
5. Complete description of the cost and extent of the Substantial Rehabilitation or New Construction
(including such items as contracts, itemized statements of all direct and indirect costs, contractor's
affidavits, etc)
10
SECTION B (ABANDONED PROPERTY WITH NO SPECIAL CIRCUMSTANCE)
If the proposed development consists of the reoccupation of abandoned property, purchased for value, complete (1) and
(2) below:
1. Was the subject property vacant and unused for at least 24 continuous months prior to the purchase for
value?
[ ] YES [ ]NO
When and by whom was the subject property last occupied prior to the purchase for value?
Attach copies of the following documents:
(a) Sworn statements from person having personal knowledge attesting to the fact and the duration
of vacancy and abandonment
(b) Information (such as statements of utility companies) which demonstrate that the property was
vacant and unused and indicate duration of such vacancy
2. Application must be made to the Assessor prior to occupation:
Estimated date of reoccupation:
Date of Purchase:
Name of purchaser:
Name of seller:
Relationship of purchaser to seller:
Attach copies of the following documents:
(a) Sale Contract
(b) Closing Statement
(c) Recorded Deed
(d) Assignment of Beneficial Interest
(e) Real Estate Transfer Declaration
SECTION C (SPECIAL CIRCUMST4NCESI
If the applicant is seeking special circumstances to establish that the property was abandoned for purposes of the
Incentive where there was a purchase for value, but the period of abandonment prior to purchase was less than
24 months, complete section (1).
If the applicant is seeking special circumstances to establish that the property was abandoned for purposes of the
Incentive where there was no purchase for value, but the period of abandonment prior to the application 24
continuous months or greater, complete section (2).
If the applicant is seeking special circumstances to establish that the property was abandoned for purposes of the
Incentive where there was no purchase for value, but the period of abandonment prior to the application was
greater than 12 continuous months and less than 24 continuous month, complete section (2) and the TEERM
Supplemental Application.
If the applicant is seeking special circumstances to establish that the property was abandoned for purposes of the
Incentive where there was no purchase for value, but the period of abandonment prior to the application was
greater than 3 continuous months and applicant will create or maintain at least 250 jobs for employees at the
subject location, complete section (2) and the CEERM Supplemental Application.
1. How long was the period of abandonment prior to the purchase for value? 1 month
When and by whom was the subject property last occupied prior to the purchase for value?
March 2021, Schumacher Electric Corporation
Attach copies of the following documents:
(a) Sworn statements from persons having personal knowledge attesting to the fact and the duration
of the vacancy and abandonment
(b) Information (such as statements of utility companies) which demonstrate that the property was
vacant and unused and indicate duration of vacancy
(c) Include the finding of special circumstances supporting "abandonment" as determined by the
municipality, or the County Board, if located in an unincorporated area. Also include the
ordinance or resolution from the Board of Commissioners of Cook County stating its approval
for less than 24 -month abandonment period.
Application must be made to the Assessor prior to the commencement of reoccupation of the abandoned
property.
Estimated date of Reoccupation:
Date of purchase:
Name of purchaser:
Name of seller:
Relationship of purchaser to seller:
Attach copies of the following documents:
(a) Sale Contract
(b) Closing Statement
(c) Recorded Deed
A) Assignment of Beneficial Interest
(e) Real Estate Transfer Declaration
Q3/Q4 2021
May 4, 2021
Gam Enterprises, Inc.
Schumacher Electric Co Enterprises, Inc.
None
0
G2
2. How long has the subject property been unused?
[ ] 24 or greater continuous months (Eligible for Special Circumstance)
12 continuous months but less than 24 continuous months (Eligible for Special
Circumstance under TEERM) - Complete TEERM Supplemental Application
3 continuous months and maintain/create 250 employee jobs (Eligible for Special
Circumstance under CEERM) - Complete CEERM Supplemental Application
Not Eligible for Special Circumstance if No purchase and less than 12 continuous months
vacant, or not a CEERM
When and by whom was the subject property last occupied prior to the filing of this application?
Attach copies of the following documents:
(a) Sworn statements from persons having personal knowledge attesting to the fact and the duration
of the vacancy and abandonment
(b) Information (such as statements of utility companies) which demonstrate that the property was
vacant and unused and indicate duration of vacancy
(c) Include the finding of special circumstances supporting "abandonment" as determined by the
municipality, or the County Board, if located in an unincorporated area. Also include the
ordinance or resolution from the Board of Commissioners of Cook County stating its approval
for lack of a purchase for value.
Application must be made to Assessor prior to the commencement of reoccupation of the abandoned
property.
Estimated date of reoccupation:
TEERM SUPPLEMENTAL APPLICATION
(This form will ONLY be utilized for applicants who specifically elect for TEERM)
This supplemental eligibility application isfar properties that have been abandoned (due to special circumstances)
for at least 12 continuous months and less than 24 continuous months with no purchase taking place.
Under the TEERMProgram, qualifying industrial real estate would be eligible for the Class 6B level of assessment
from the date of substantial re -occupancy of the abandoned property. Properties receiving Class 6B will be assessed
at 10% of market value far the first 10 years, 15% in the 11th year and 20% in the 12th year. The terms of this
program are Not Renewable.
I applicant/representative hereby specifically elect to submit
this Supplemental Application for the TEERM program.
Further affiant sayeth not.
Agent's Signature
Agent's Mailing Address
Applicant's Name
Agent's Name & Title
Agent's Telephone Number
Applicant's Mailing Address
Applicant's e-mail address
Subscribed and sworn before me this day of 20
Signature of Notary Public
CEERM SUPPLEMENTAL APPLICATION
(This form will ONLY be utilized for applicants who specifically elect far CEERM)
This supplemental eligibility application isfar properties that have been abandoned (due to special circumstances)
where there has been no purchase for value and the buildings and other structures have been vacant and unused
for at least three continuous months and applicant has provided sufficient documentation to establish that such
applicant will create or maintain at least 250jobs for employees at the subject location.
The CEERM Program shall be limited to the party who is the initial applicant of the Class 6B Incentive under
the CEERM Program and the subject of the municipal Resolution or Ordinance.
Under the CEERHProgram, qualifying industrial real estate would be eligible far the Class 6B level of assessment
from the date of substantial re -occupancy of the abandoned property. Properties receiving the Class 6B will be
assessed at 10% of market value for the first 10 years, 15% in the I1 th year and 20% in the 12th year. The terms
of this program are Not Renewable.
I applicant/representative hereby specifically elect to submit
this Supplemental Application for the CEERM program.
Further affiant sayeth not.
Agent's Signature
Agent's Mailing Address
Applicant's Name
Applicant's e-mail address
Subscribed and sworn before me this — day of
Signature of Notary Public
Agent's Name & Title
Agent's Telephone Number
Applicant's Mailing Address
20
How many construction jobs will be created or maintained as a result of this development?
How many new permanent full-time and part-time employees do You now employ in Cook County?
Full-time: 0 Part-time: 0
I -low many new permanent part-time jobs will be created as a result of this proposed development?
TBD
How many new permanent full-time jobs will be created as a result of this proposed development?
5-8 in the first year
A certified copy of a resolution or ordinance from the municipality in which the real estate is located (or the
County Board, ffthe real estate is located in an unincorporated area) should accompany this Application. The
ordinance or resolution -must expressly state that the municipality supports and consents to this Class 613
Application and that it finds Class 6B necessary.lbr development to occur on the suhjectproperty, Ifaresolution
is unavailable at the time the application is filed, a letter from the municipality or the County Board, as the case
may be, stating that a resolution or ordinance supporting the incentive has been requested may be filed with this
application instead. If the applicant is seeking to apply based on the reoccupation of abandoned property and
will be seeking a finding of "special circumstances" from the Municipality, in addition to obtaining a letter from
the municipality confirming that a resolution or ordinance supporting 'the incentive has been requested, the
applicant must file a letter from the County Board confirming that a resolution validating a municipal finding
of special circumstances has been requested. If, at a later date, the municipality or the County Board denies the
applicant's request for a resolution or ordinance, the applicant will be deemed ineligible for the Class 6B
incentive, whether or not construction has begun. In all circumstances, the resolution must be submitted by the
time the applicant files an "Incentive Appeal".
1, the undersigned, certify that I have read this Application and that the statements set forth in this Application
and in the attachments hereto are true and correct, exec Ct as those matt"wr =�, jk,46
wird X8 wSlifi—ATM-atters the unTegned certifies that he/she believes the same to be true.
igmnatu Date
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Print Name' Title
03105,,m2l
YL
EDS AFFIDAVIT
1, GqL3 tAiCK41tL , as agent for MV Holdings, LLC (the "Applicant") do hereby
certify that it woUd attest to the following facts as required by Sections 74-46 and 74-62 through 74-
73 of the Cook County Code if called to testify:
1. That I am a duly authorized agent for Applicant, who is the contract -purchaser of the
property located at located at 801 E. Business Center Drive, Mount Prospect, Illinois
60056 (PIN: 03-35-102-015-0000) (the "Subject Property-).
2. Applicant does not own any other property in Cook County.
3. Applicant's ownership is as follows:
Gary Michalek - Member - 50%
277 Hibbard Road
Winnetka, IL 60093
Craig Van den Avont - Member - 50%
1119 N. Harvard Avenue
Arlington Heights, IL 60093
4. To my knowledge and after reviewing the Applicant"s records, Applicant is not
delinquent in the payment of any property taxes administered by Cook County or by a local
municipality.
Further Affiant Sayeth Not
Date:
Subscribed and sworn OIAT,rpe
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GAM Preliminary Conceptual Budget
Office/Warehouse Project
801 E. Business Center Dr, Mount Prospect, IL
DATE: 3/09/21 Rev 2
Total Building GSF
37907
Office Space Demo
22150
New Office Space
13297
New Warehouse Space
24610
CHAR ES
HA LL
p CONSTRUCTION
L0
T_
10% Labor and
Materials
ITEM #
ACTIVITY
QUANITY1
UNIT
I UNIT PRICE
SUBTOTAL
PROJECTED COST
INCREASE
TOTAL
1
010170- -
Survey
EXCLUDED
2
024100- -
Demo (Need to see site to verify Demo Items)
1 LS
$ 68,Og0
$ 68,000.00
58,000.00
3
313100- -
Soil Treatment (Allowance)
EXCLUDED
4
310000- -
Excavation / Grading
EXCLUDED
5
321216- -
Paving
EXCLUDED
6
321216- -
Pavement Markings (Striping and Signage)
EXCLUDED
7
330000- -
Piped Utilities
EXCLUDED
8
323100- -
Fencing and Gates
EXCLUDED
9
329000- -
Landscaping (Allowance)
EXCLUDED
10
033000-
Cast In Place Concrete (Building SOG)
EXCLUDED
11
1033000-
Cast In Place Concrete (Building Loading Docks)
EXCLUDED
12
033000-
Cast In Place Concrete (Site Curbs )
EXCLUDED
13
033000- -
Cast In Place Concrete (Monument Sign)
EXCLUDED
14
042000- -
Unit Masonry
EXCLUDED
15
051200-
Structural Steel (RTU Angle and Bar Joist Stiffeners)
4 ea
$ 7,500.00
$ 30,000.00
$ 3,000.00
5 33,000.00
16
061000-
Rough Carpentry (Doors, Frames, and Hardware Installation)
1 LS
$ 7,000.00
$ 7,000.00
$ 700.00
S 7,700.00
17
062200- Millwork and Countertops (Kitchen, 2ea Coffee areas, and I new
lbathroom vanity)
I LS
$ 25,000.00
$ 25,000.00
$ 2,500.00
$ 27,500.00
18
1072100-
Building Insulation
0 LS
$ 17,500.00
$ -
$ -
$ -
19
1075000- -
Roofing (RTU or Exhaust Curbs)
4 ea
$ 1,750.00
$ 7,000.00
$ 700.00
$ 7,700.00
20
078100-
Fireproofing
1 1 LS 1
$ 5,000.001
$ 5,000.001
$ 500.00
$ 5,500.00
21
079200-
Joint Sealant (Allowance)
1 LS 1
$ 5,000.001
$ 5,000.001
$ 500.00 1
$ 5,500.00
22
081000-
Doors and Frames Allowance (1 2ea
12 EA
$ 1,800.001
$ 21,600.00 1
$ 2,160.00 1
$ 23,760.00
23
083300-
Overhead Doors
EXCLUDED
24
110000- -
Dock Levelers
EXCLUDED
25
084100-
Entrances and Storefronts(Windows and Doors)
EXCLUDED
26
.092900-
Gypsum Board and Framing
1 LS
$ 100,000.00
$ 100,000.00
$ 10,000.00
$ 110,000.00
27
1095100-
Acoustical Ceilings
1 LS
$ 72,000.00
$ 72,000.00
$ 7,200.00
$ 79,200.00
28
096500-
Resilient Flooring / Carpeting
I LS
$ 95,000.00
$ 95,000.00
$ 9,500.00
$ 104,500.00
29
099100-
Painting Office (interior Office Space Only)
25000 SF
$ 2.00
$ 50,000.00
$
$ 50,000.00
30
099100-
Painting (Shop - CMU Walls)
11400 SF
$ 2.00
$ 22,800A0
$
$ 22,800.00
31
099100-
Painting (Shop - Bar joist and Decking)
23100 SF
$ -
$ .
$
$ -
32
099100-
Painting - Epoxy Paint (Shop - Concrete Floor)
22285 1 SF 1
$ 4.001
$ 89,140.001
$
$ 89,140.00
33
101400-
Signage (Building signage or Monument sign by Owner)
EXCLUDED
34
1110000- -
Equipment (Loading Dock Equipment)
EXCLUDED
35
220000- -
Plumbing - (Allowance)
1 LS
$ 5,000.00
$ 5,000.00
$
$ 5,000.00
36
210000-
Fire Protection (Wet System Modifications)
27000 SIF
$ 2.00
$ 54,000.00
$ 5,400.00
$ 59,400.00
37
230000-
Office RTU)
Heating, Ventilating, and Air Conditioning (Warehouse Exhaust fans,
I LS
$ 85,290.00
$ 85,290.00
$ 8,529.00
$ 93,819.00
38
260000- -
Electrical
1 LS
$ 145,000.00
$ 145,000,00
$ 14,500.00
S 159,500.00
39
260000--
Electrical (Hopkin g up of Manufacturing Equipment -Owners Budget) 1
1 LS
$ -
$ - I
$ .-ii-
40
1283100- -
Fire Detection and Alarm (Allowance)
1 LS 1
$ 30,000. 01
$ 30,000,001
$
$ 30,000.00
41
270000- -
Low Voltage System (Security by Owner)
EXCLUDED
42
43
44
45
46
47
48
49
50
51
52
53
54
55
1
GCS
Trade Cost
1 Trade Cost - 10% Labor and Materials Increase Deduction
Insurance
Subtotal
OH&P (N)
Base Contract
Contin enc (I"s not Included In the COST Per SfEiEiAn
Permit Fees
ILand
Total
Cost Per SF
Alternates:
Remove 2N2" tile in 2ea bathrooms. Install LVT and Rubber base
$ 188,685.00
$ 982,019.00
$ (65,189.00)
$ 14,048.45
$ 1,119,563.45
$ 81,949.28
$ 1,201,512.73
$
By Owner
By Owner
$ 1,201,512.73
$ 31.70
$ 23,425.00
1
Trade Costs l $
982,019.00 1
GAM 801 Business Center Dr, Mount Prospect, IL Takeoffs (PK 2-22-21�
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w.
Complete Demo Ares Fri
Mariufacturing and'rruck Dock Area S,1(2, F'YE.1
EntrainceNesfibule to Remain
Rece;tion and Seating Area 2 04k 2 15,42o R)," E]
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RESOLUTION NO.
A RESOLUTION IN SUPPORT OF MV HOLDINGS, LLC,
MAKING APPLICATION FOR COOK COUNTY CLASS 6B TAX INCENTIVE FOR
THE PROPERTY LOCATED AT 801 E. BUSINESS CENTER DRIVE
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, MV HOLDINGS, LLC, has requested the Village of Mount Prospect
support its application for the Class 6B Real Property Classification at 801 E.
Business Center Drive, Mount Prospect, Cook County (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 MAYOR AND BOARD OFTRUSTEES
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 Tax
Incentive of a property tax reduction from 25% to 10% for years 1 through 10,
15% in year 11, and 20% in year 12 from Cook County for the Property located
at 801 E. Business Center Drive and legally described as:
LOT 206 IN KENSINGTON CENTER -RESUBDIVISION V, BEING A
RESUBDIVISION OF LOTS 206 AND 31 1 IN KENSINGTON CENTER -PHASE
THREE -A, BEING A SUBDIVISION AND RESUBDIVISION IN PART OF THE
NORTHWEST 1/4 AND THE NORTHEAST 1/4 OF SECTION 35, TOWNSHIP 42
NORTH, RANGE I I , EAST OF THE THIRD PRINCIPAL MERIDIAN, IN COOK
COUNTY, ILLINOIS.
PIN: 03-35-102-015-0000
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
17
Res 6b MV holdings
after its passage and approval in the manner provided by law.
AYES:
NAYS:
ABSENT:
PASSED and APPROVED this 1" day of June, 2021
Paul Wm. Hoefert
Mayor
Karen M. Agoranos
Village Clerk
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