The URL can be used to link to this page

Home My WebLink About8.1 A RESOLUTION IN SUPPORT OF CHICAGO DRY LL, LLC'S APPLICATION FOR A RENEWAL OF A COOK COUNTY CLASS 6b INCENTIVE FOR THEIR FACILITY LOCATED AT 1000 BUSINESS CENTER DRIVE, MOUNT PROSPECT, ILLINOISt�.f)AAI1C 1�d'+rn�iect Subject• SUPPORT OF CHICAGO DRY LL, LLC'S APPLICATION FOROF . COOK COUNTY.FOR THEIR LOCATEDFACILITY 1000 DRIVE, MOUNT " PROSPECT, ILLINOIS Meeting Fiscal Impact Dollar Amount Budget Source Category Type Information August 4, 2021 - REGULAR MEETING OF THE MOUNT PROSPECT VILLAGE BOARD - false Resolution Attached to this memorandum is a resolution that would grant approval of an extension of a Class 6b property tax incentive for Chicago Dry LL, LLC (Chicago) for their property located at 1000 Business Center Drive. The request is for an extension of their Class 6b that would enable Chicago to continue to lease its facility to Sam's Beauty who has been a tenant their since 2017. 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. Sam's Beauty currently employs 70 full time and 5 part time staff consisting of management, administrative support and warehouse positions. They are an e- commerce beauty supplies company that specializes in wigs, lace wigs, hair pieces, virgin hair, weaves, braids and other beauty products. They have increased sales by over 50% over the past year and are looking to continue strong 1 growth moving forward. Chicago is requesting the Class 6b extension to maintain their taxes at around $1.50 per square foot for their property. If the extension is not granted, they estimate that their tax bill would rise to $3.50 per square foot. Similar properties in nearby Lake and DuPage County range from $1 to $1.50 per square foot. Alternatives 1. Approve a resolution in support of Chicago Dry LL, LLC's application for a renewal of a Class 6b tax incentive for 1000 Business Center Drive. 2. Action at the discretion of the Village Board. Staff Recommendation Staff recommends that the Village Board approve a resolution in support of Chicago Dry LL, LLC's application for a renewal of a Cook County Class 6b incentive for their facility located at 1000 Business Center Drive. ATTACHMENTS: Sam's Beauty 6b renewal.pdf Resolution 6b Chicago Dry LL.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) 580-1592 June 22, 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 Renewal Resolution Request Chicago Dry LL, LLC 1000 Business Center Drive Mount Prospect, IL 60056 PIN: 03-35-104-057-0000 Dear William: Chicago Dry LL, LLC (the "Applicant") is the owner 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 Renewal for the Subject Property. The original Class 6b Tax Incentive Application was filed in 2011, and was based on Substantial Rehabilitation & Occupation of Abandoned Property -With Special Circumstance. The Class 6b Tax Incentive was activated in 2012, and thus 2021 is the tenth year of the incentive, and is eligible for renewal. The Subject Property currently consists of a 31 -year-old industrial building that is approximately 129,240 square feet, sited on approximately 250,257 square feet of land. Sam's Beauty (the "Occupant") currently occupies the Subject Property, and uses the site for its growing e-commerce beauty products business. Specifically, the Occupant uses the site for administration, warehousing, packing, and shipping of these products. Background of the Occupant Sam's Beauty was established in 2008 as an e-commerce website for retail beauty products, with its mission to be the trendsetter's number one destination for all beauty products. It specializes in wigs and various hair accessories, such as braids, hair pieces, and wigs for all hair types and styles. Occupant's Growth and Property Improvements during Original Incentive Period Since Sam's Beauty's move to its current location in Mount Prospect, it has increased its selection of wigs, lace wigs, hair pieces, virgin hair, weaves, braids, and various essential beauty products at affordable prices. The Subject Property operates as the headquarters of the company, where it provides outstanding service to assist its customers who purchase from the company's website. Sam's Beauty's revenue increased by 50% in 2020 compared to its previous performance. During the pandemic, the company thrived since it does not require any direct contact with its customers. This business model is durable for the foreseeable future, as online sales become even more popular and preferred for retail customers. It THE LAW OFFICES OF LISTON & TSANTILIS Since the Applicant purchased the Subject Property, it has implemented various improvements as promised in its original Class 6b Tax Incentive application. Among these improvements are a roof replacement, various tenant improvements, and an interior renovation tailored to the Occupant's operations. Subect Property Improvements and Job Creation during Renewal Period The Subject Property currently operates as the headquarters of Sam's Beauty. In the event that a Class 6b Tax Incentive Renewal is granted, the Applicant plans to spend approximately $553,000 to make various additional improvements, including a total roof replacement and parking lot expansion and repaving to accommodate the Occupant's expansion. The Occupant currently employs 70 full-time employees, and 5 part-time employees. In the event the Class 6b Tax Incentive is granted, the Occupant plans to hire ten (10) new employees by the end of 2021, and even more over the course of the incentive, and will look to qualified Mount Prospect residents for its hiring. Each employee will be paid in accordance with the Cook County Living Wage. Also, the newly constructed addition will result in approximately ten (10) temporary construction jobs. Real Estate Tax and Economic Analysis After the completion of the additional improvements, the Subject Property is projected to have a market value of approximately $4,814,250, which would generate an estimated $1,874,331 in total taxes over the life of the Class 6b Tax Incentive (approximately $156,194 per year). Without the incentive and at full vacancy, the property will remain vacant and unused, will likely receive vacancy relief, thus lowering its total taxes. Please see the attached "12 Year Tax Comparison Chart" for more details. In addition to increased property tax revenues, the expansion 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. The Occupant's eventual 85 employees are projected to contribute an additional $360,188 per year to the Village's economy. Please see the attached "12 Year Tax Comparison Chart." The Occupant also generates sales tax for Illinois through its online retail operation. During the fiscal year 2020, the Occupant generated approximately $151,651 in sales tax for the state of Illinois. Please see the attached "Sales Tax Chart." "But -For" Condition Statement Without the assistance from the Class 6b Tax Incentive Renewal, the Applicant will not construct the additional improvements to the Subject Property. The Applicant has determined that the without the incentive renewal, the heavy Cook County property tax burden will not make the project feasible. Furthermore, without the Class 6b Tax Incentive Renewal, the Occupant will not renew its lease in 2022; the increase lease rate due to the high property taxes will require it to bring its operations to a neighboring county, state, or community. In the event the Occupant does not renew its lease, the Subject Property will become vacant and unused, thereby lowering its total taxes. This would not only affect the total revenue that the property will generate, but it will result in an established and expanding company to leave the Village and continue its operations outside of Cook County. THE LAW OFFICES OF LISTON & TSANTILIS Conclusion Based on the foregoing, the Applicant requests that the Village of Mount Prospect review its Class 6b Tax Incentive Renewal request and approve a Resolution supporting and consenting to a Class 6b Tax Incentive Renewal for the Subject Property. Should you need any additional documentation or have any questions or concerns, do not hesitate to contact me at (3 12) 604-3812 or via email at mciulla@ltlawchicago.com. Respectfully Submitted, Michael A. Ciulla, Esq. Encls. R W C *. O° 00 COOK COUNTY ASSESSOR'S OFFICE COOK COUNTY ASSESSOR I - Z 118 NORTH CLARK STREET, CHICAGO, IL 60602 I PHONE: 312.443.7550 FAx: 312.603.6584 FRITz KAEGI IN 0%". WWVV.COOKCOUNTYASSESSOR.COM CLASS 613/7/8 Control Number RENEWAL APPLICATION F I A certified copy of the resolution or ordinance obtained from the municipality in which the real estate is located, or from the Cook County Board of Commissioners if located in an unincorporated area, must accompany this Renewal Application. This application, resolution and a filing fee of $500.00 must be filed. For assistance in preparing this Renewal Application, please contact the Cook County Assessor's Office Development Incentives Department at (312) 603-7529. I. Identification of Applicant Name: Chicago Dry LL, LLC Telephone: Address: 1000 Business Center Drive City, State: Mount Prospect, Illinois Email Address: Agent/Representative (if any) Name: J. Michael O'Brien Telephone: Address: 280 Park Ave., Floor 3 City, State: New York, New York Email Address: mobrien@investcorp.com 11. Description of Subject Property ) 212.703.1207 Zip Code: 10017 Street address: 1000 Business Center Drive City, State: Mount Prospect, Illinois Zip Code: 60056 Permanent Real Estate Index Number (s)- 03-35-104-057-0000 Township: Wheeling 10 III. Identification of Persons or Entities Having an Interest Attach a current and 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. Attach legal description, site dimensions and square footage, and building dimensions and square footage. IV. Property Use Attach a current and detailed description of the precise nature and extent of the use of the subject property, specifying in the case of multiple uses the relative percentages of each use. If there have been any changes from the original application, include current copies of materials which explain each occupant's business, including corporate letterhead, brochures, advertising material, leases, photographs, etc. V. Nature of Development Indicate the nature of the original development receiving the Class 6B/7/8 designation New Construction x j Substantial Rehabilitation Occupation of Abandoned Property - No Special Circumstance x Occupation of Abandoned Property - With Special Circumstance VI. Employment How many permanent full-time and part-time employees do you now employ? On -Site: Full-time: 70 Part-time: 5 In Cook County: Full-time: 70 Part-time: 5 VII. Local Approval A certified copy of a resolution or ordinance from the municipality in which the real estate is located (or the County Board, if the real estate is located in an unincorporated area) must accompany this renewal. The ordinance or resolution must expressly state that the municipality supports and consents to this Class 613/7/8 Renewal and has determined that the industrial use of the property is necessary and beneficial to the local economy. M 1, J. Michael O'Brien the undersigned, certify that / have read this Renewal Application and that the statements set forth in this Renewal Application and in the attachments hereto are true and correct, except as those matters stated to be on information and belief and as to such matters the undersigned certifies that he/she believes the same to be true. --�44 f- -�-- 6/21/21 Signature Date WRLTHRIT-m• - MWINEMKIII Vice President Title 3 0211012020 EFI EDS AFFIDAVIT I, I Michael O'Bden , as agent for Chicago Dry LL, LLC (the "Applicant") do hereby certify that it would 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: I That I am a duly authorized agent for Applicant, who is the owner of the property located at located at 1000 Business Center Drive, Mount Prospect, Illinois 60056 (PIN: 03-35-104-057-0000) (the "Subject Property"). 2. Applicant owns the following property in Cook County: 1855 Greenleaf Ave. Elk Grove Village, 1L 60007 1525 Chase Ave, Elk Grove Village, IL 60007 55 Howard Ave. Des Plaines, IL 60018 701 Lunt Ave. Elk Grove Village, IL 60007 3838 N. River Rd. Schiller Park, IL 60176 2020-2050 Parkes Dr. Broadview, IL 60155 1441 Business Center Dr. Mount Prospect, IL 60056 1050 Business Center Dr. Mount Prospect, IL 60056 1000 Business Center Dr. Mount Prospect, IL 60056 520 Business Center Dr. Mount Prospect, IL 60056 1500 Bishop Ct. Mount Prospect, IL 60056 Applicant's ownership is as follows: BIG IV Chicago LLC — Member - 4% 9450 W. Bryn Mawr Ave. Suite 750 Rosemont, IL 60018 IVC Blackhawk Capital, LLC — Member - 96% 280 Park Ave., 36`" Floor New York, NY 10017 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: _TI O -U IV Subscribed and sworn before me This AA day 2021 d, -f S gnatuc'e of t - otary ub ,,'`�`��pnnrrrrrnrrr. �A o T.1 A�&L I 12 Year Tax Estimates 1000 Business Center Drive Mount Prospect, IL 60056 PIN. 03-35.104-057-0000 . .................................. --- T-- e— — Estimated 2020 M._ V.I.. f $4.291.250 and ftp -1-11y 1663,0001n Cbmpbrbdb JI E 16—tld Market V-1. B111d Ib the 2020 C 11h ha -4 Id V1111 a F III V111.1y & N, 6b 9� an mw0r .1 waa used 1 -,. 1. laze imo .wurnauw a v .nraau r m U¢m®nxn: m Ina 1u1- a T. wM10 dwtw0an 2 1 .31 'n M°A� Ocm,narcy Daum wax w- x1i, c', e"a, Employee Economic Impact YL Active Roofing Company, Inc. 2100 W. 32nd Street Chicago, IL 60608 Phone: (708) 430-8080 Fax: (708) 430-8363 TO: Brennan Investment Group 9450 W. Bryn Mawr, Suite 750 Rosemont, IL 60018 Revised: 08/10/2018 Warehouse Roof Replacement JOB: PRJ #3287: Roof Replacement ADDRESS: 1000 E. Business Center Drive, Mt. Prospect, IL 60056 Roof Approximately: 99,500 Sq. Ft. d' r Active Roofing Company, Inc. 2100 W. 32nd Street Chicago, IL 60608 Phone: (708) 430-8080 Fax: (708) 430-8363 Specification: Recover system using a 60 MIL TPO Roof System: Perform infrared scan to the built-up roofing system to determine if saturation is present in to existing assembly. o The scan will be done prior to the start of the project. o Wet areas will be marked, removed, and replaced with Poly ISO insulation to match existing roof height. o (2,000) square feet of insulation replacement in included in this proposal. o Anything over (2,000) square feet will be removed and replaced at a unit cost of $1.50 per square foot. 2. Vacuum loose gravel from existing roofing system. 3. Remove existing sheet metal and roof flashings and dispose of properly. 4. Remove a large modified bitumen patch which approximately (15) feet' x (25) feet that was installed over the existing roof system. o Area will be cut out and infilled with new Poly ISO insulation to match existing roof height. 5. Encapsulate all abandoned curbs and rails with new TPO membrane per manufacturer specifications. 6. Inspect steel decking for damage. o If necessary, replace damaged decking with new to match existing profile at a unit cost. o Active roofing included replacement of 200 sf. in proposal. 7. Install new lumber along perimeter edge of building. 8. Mechanically attach a single layer of rigid 1.2" Poly ISO insulation using TPO coated Rhinobond plates and install per manufacturer specifications. 9. Apply a 60 MIL TPO membrane to the Poly ISO insulation using induction welding and heat weld at the seams. 10. Apply 60 MIL TPO detail membrane adhered to the surface of all walls and curbs using TPO adhesive. 11. Remove and replace all perimeter sheet metal and flashing metal with new. o ALL METAL WILL BE 24 GA GALVANIZED PREPAINTED WITH A KYNAR 500 FINISH AND COLOR TBD BY OWNER. 12. Install new TPO boot flashings to all soil stacks. 13. Install pitch pans around all pipe penetrations through roof deck and fill with sealer. 14. Install protective TPO walk pads at all roof access points. o 50 feet of new walk pad is included in proposal. 15. Remove (15) existing skylight domes and replace with new prismatic skylight domes (4' x 8'). 16. Remove and haul all the roofing debris from the job site and dispose of properly. 17. All work shall be performed in a safe, professional manner in compliance with Federal and State OSHA regulations. �� o Active Roofing Company, Inc. 210OVV.32ndStreet Chicago, |L6UOOO Phone: (708) 430-8080 Fax: (708) 430-8363 Guaranteed: 20-ymorNDLwarrantee from Johns Manville, Carlisle SynTeuSystems, Firestone Building Products, or GAF Materials I PRICE $45 0 Price assumes that this project will begin in Spring 2019. Unit Costs: The owner will be notified if any of these unforeseen items are found and no work will be performed until authorized by owner or owner's agent. Photo evidence will be provided to the owner for their records. Steel Dock Replacement (over 200 square feet): PRICE: Insulation Replacement: PRICE: $1.50 Terms: * 5% payment due upon acceptance ofcontract. ° Work will not boscheduled until Spring 2D1S. * 45% due one month prior to start date. ° 4D96payment due upon completion of7596ofwork ~ Balance upon completion ofwork 0 NET 15 from invoice date. There will be o296 Service Charge for all late payments, VVemay withdraw this contract ifnot accepted within 3Odays. 2. We are not responsible for improper installation of any components previously installed on the roof, such as asbestos, electrical wiring, air conditioners, etc. or anything underlying the roof or stored there in. 3. VVeare not responsible for any toxic agents orhazardous aubetanceoundedyngUleroof such as asbestos, mold, lead, PCBs, etc., now or at any time in the future, and Active Roofing Company, Inc., expressly disclaims any liability associated with same now or in the future. Active Roofing Company |nc.. may terminate this contract immediately upon discovery of any such toxic agent or hazardous substance during the course of performing the work described herein without further obligation, duty, or liability hereunder. Active Roofing Company, Inc. 21OOVV.32ndStreet Chicago, |L80008 Phone: (708) 430-8080 Fax: (708) 430-8363 We are not responsible for any leaks at skylighbs. HVAC unhu, vindowm, dnainpipes, plumbing stacks, doors, siding and any other areas not considered the roof. There will be smells, noise, some dirt and silt during the project. The machines, which can produce this, are necessary tocomplete the project G. We will, if necessary, oeokst Owner with getting pennhm at Owner's expense, There will be a 20% fee applied to cost ofpermit for obtaining. Active Roofing Co.. Inc. will obtain all required |inenmam at own oomc 7. We are state licensed and insured for Workman's Compensation & Contractors Liability Insurance with Continental Casualty Co. 8. We will, if necessary, assist the Owner's HVAC and Electrical contractors in raising and resetting all mechanical equipment ifnecessary. 8. VVeare approved contractors for GAF, MANVILLE, CARL|SLE, FIRESTONE, SARNAF|Land other leaders in the roofing industry. g. In the event Active Roofing Company, Inc. files alawsuit against you tocollect any and all sums due hereunder, Active Roofing shall be entitled to recover any and all collection costs from you for said |awouh, including but not limited hoall of its attorneys' haeo and costs incurred in filing and prosecuting its lawsuit against you. Baseproposai: Approved By: Joe N1 hi PRINT NAME SIGNATURE 8/20/2018 DATE Cameron Miller Active Roofing Company w� December 7, 2020 Amanda Moore Senior Property Manager Brennan Investment Group 94SOVVBryn Mawr #7SO Rosemont, |L6O018 847-306-6824 amoore@brennanUccom Project: 10OOE.Business Center Drive, Mt. Prospect Commercial Industrial "Quality and Dependability Doesn't Cost, oPaym^ We propose to provide labor, material, equipment and supervision to perform the following work: 2M21:Asphalt Grind and Pave, 4"—Red Area (approu 18,248 SF) ° Grind the asphalt 4"and haul away ioanauthorized dump site. * Prepare existing base asnecessary toreceive new asphalt. ° Install and compact I5"ofhot mix asphalt binder course. * Install and compact 1.5"ofhot mix asphalt surface course. w Re -install any pavement markings damaged by asphalt repairs as necessary. • Leave property neat and broom clean upon completion. ° All traffic control and barricading included inprice, Investment: $49,999.52 5106 Walnut Avenue * Downers Grove, IL 60515 * (630) 963-7800 - Fax (630) 963-5538 Briggs Paving isudivision of Construction Management Corpmrationofdmmrica E - c c Terms & Conditions Contract Documents — Specification sheets, drawings and other documentation presented in this proposal shall be part of the contract. It is the responsibility of the customer's authorized representative to be aware of the terms and conditions stated herein and of the other contract documentation. Pricing on proposals is valid for 30 days. All alternate bid pricing is based on the approval of the base bid. Pricing may vary on alternate bids if base work isn't completed at the same time. Payments Terms Net Balance Due 30 Days After Completion of Work — Unpaid balances will accrue a late fee of 1.5`Y per month until paid in full. In the event of your failure to conform to the terms and conditions of this agreement, you hereby agree to pay Briggs Paving all sums earned to date. The client's obligation to pay for the work contracted is in no way dependent upon Client's ability to obtain financing, zoning, approval of governmental or regulatory agents, or upon the Client's successful completion of the project or other contingency. WE RESERVE THE RIGHT TO SUSPEND OR TERMINATE WORK UNDER OUR AGREEMENT UPON FAILURE OF THE CLIENT TO PAY INVOICES AS DUE. Permit and Fees — Unless noted otherwise, this quotation excludes the cost of CITY PERMITS, BONDS and LICENSES or plans required to obtain the aforementioned. For an additional fee, Briggs has the ability to provide all of these services, if required by the village or township where the work is to be completed. Employee Safety — All employees will have ear and eye protection. All employees will wear boots and safety vests. Weekly tool box talks to be had regarding job safety and work progression. Progress reports will be given to the client upon request. Unmarked/Undocumented Utilities — The client shall be responsible for repairing any private utility lines damaged by Briggs Paving during the course of this project which were un -marked, un -documented or non -conforming to prevailing codes. While Briggs Paving shall be responsible for repairing utilities in situations where Briggs Paving damaged marked, conforming private utility lines. Briggs Paving shall not be held liable for additional cost associated with utility interruption regardless of whether the lines were marked and/or documented properly or not. The customer is responsible to call the utility company. Work Accessibility — The price (s) quoted herein contingent upon the work being free of any obstructions, (vehicles, dumpsters, etc) at the scheduled project start date and time. Briggs Paving reserves the right to adjust the agreed upon project price if the job conditions prevent Briggs Paving work crews from starting on time and proceeding without interruption. Mobilizations —There will be a charge for each additional mobilization required by request of the customer. Additional mobilizations due to weather, machine failure, and other unforeseen circumstances will not be charged. Soil Conditions The proposed price is contingent on the existing subsoil or base being adequate to support the pavement work. Briggs Paving shall not be held liable for failure due to poor subgrade, moisture or other unforeseen circumstances such as underground water springs, contaminated soil, etc. If failure does occur, Briggs Paving will notify agent or owner for inspection. Based upon recent law amending the Clean Construction Demolition Debris (CCDD) regulations, all hauling of spoils off site to a licensed CCDD fill operation must have a Source Site Certification executed by the property owner/professional engineer. This must be IEPA form LPC -663 certifying that the material is uncontaminated. Costs for this are by others or at an additional cost. Water Drainage — On project where the natural fall of the land is less than 2%, Briggs Paving cannot guarantee that there will be total water drainage on pavements After the repair, Briggs Paving shall not be held liable for ponding or retention in the surrounding areas. Concrete Cracking/Discoloration - Briggs Paving will use the best industry practices to control where concrete cracks. Joints will be sawed or tooled in an effort create a relief joint for the concrete to crack. There is no guarantee that concrete will crack in the designated control joints. There is no guarantee that concrete color will be an exact match. Concrete age, moisture content, exposure to uv rays, application of sealers and variation in natural materials all effect the final color of the concrete. Cleaning Expenses —The owner understands that the work called for in this agreement is a messy process. The parties agree that Briggs Paving is not responsible for cleaning, repairing or replacing any concrete, carpet, floor, passageway, etc., that is soiled or stained by anyone other than Briggs Paving's employees. Volatile Market — Material cost may be affected by fluctuations in raw materials and is therefore subject to change. Indemnity — Following installation, customer shall be responsible for all materials and shall be held solely liable for all personal injuries, deaths, property damage, losses, or expenses related to or in any way connected with the materials or services provided by Briggs Paving. The customer hereby agrees to indemnify and hold Briggs Paving and its agents harmless from any and all loss, expense, liability, or attorney's fee in connection with such events. Successors and Assigns — The Client binds himself, his partners, successors, executors, administrators, and assigns to the contractor to this proposal in respect to all the terms and conditions of this proposal. Neither the Client nor Contractor shall assign his interest in this proposal without the written consent of the other. Wherever possible each provision of this lease shall be interpreted in such manners as to be effective and valid under applicable Illinois law. Attorney Fees — In the event of legal action being brought against the Client for any breach of this agreement, Briggs Paving shall be entitled to recover reasonable attorneys' fees and costs in addition to any amount awarded by the Court. Insurance — We maintain Workman's Compensation and Employer's Liability Insurance in conformance with state law. In addition, we maintain Comprehensive General Liability Insurance and Automobile Liability Insurance with bodily injury (limit) $1,000,000.00. We will pay for any damaged suffered by the Client arising solely from our negligent acts or omissions in performing out services under this agreement, but our liability to pay for such damaged shall be limited to the amount of insurance proceeds then available from the insurance policy which covers us for the Client's damages on the date any judgment is entered. In no event shall we, our agents, employees, or any independent contractors be personally liable for any damages. "Damages" as referred to in this clause shall include any type of damage that are or could be awarded by any court or arbitration panel such as, by way of general example but not limitation, tort damages, contract damages, strict liability damages, liquidated damages, punitive damages, consequential damages, incidental damages, direct damages, or any penalty, If the Client places greater responsibilities upon us or required further insurance coverage, we, if specifically so directed, will take out additional insurance, (if procurable) to protect us, at the Client's expense. As a duly authorized representative of , I agree to these Terms & Conditions. Initialed: Date: RESOLUTION NO. A RESOLUTION IN SUPPORT OF CHICAGO DRY LL, LLC'S APPLICATION FOR A RENEWAL OF A CLASS 6B INCENTIVE FOR THEIR PROPERTY LOCATED AT 1000 BUSINESS CENTER DRIVE, MOUNT PROSPECT, ILLINOIS 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, Chicago Dry LL, LLC has requested the Village of Mount Prospect support its application for Extension of the Class 6B Real Property Classification at 1000 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 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 Renewal 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 1000 Business Center Drive and legally described as: LOT 301-A IN KENSINGTON CENTER -RESUBDIVISION THIRTEEN, BEING A RESUBDIVISION OF CERTAIN LOTS IN KENSINGTON CENTER -RESUBDIVISION NINE, BEING A RESUBDIVISION OF LOT 301 IN KENSINGTON CENTER -PHASE THREE -B, BEING A SUBDIVISION IN PART OF THE NORTHWEST 1/4 OF SECTION 35; ALSO RESUBDIVISION OF LOT 401 IN KENSINGTON CENTER -PHASE FOUR, BEING A SUBDIVISION IN THE NORTHEAST 1/4 OF SECTION 35, ALL IN TOWNSHIP 42 NORTH, RANGE 11, EAST OF THE THIRD PRINCIPAL MERIDIAN, ACCORDING TO THE PLAT RECORDED AND FILED FEBRUARY 1, 1984 AS DOCUMENTS 26952608 AND LR3353303, IN COOK COUNTY, ILLINOIS. Property Index No. 03-35-104-057-0000 and; 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: NAYS: ABSENT: PASSED and APPROVED this 4th day of August, 2021. Paul Wm. Hoefert Mayor ATTEST: Karen M. Agoranos Village Clerk Pg. 2 of 2 6b Chicago Dry 21