HomeMy WebLinkAboutRes 45-07 12/04/2007
dm
12/3/07
RESOLUTION NO. 45-07
A RESOLUTION IN SUPPORT OF CRFI/GOLUB MT. PROSPECT, 1800 WEST
CENTRAL ROAD, 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
WHEREAS, through property tax incentives offered by the Assessor of Cook County,
various opportunities exist for new businesses to become established in the Village of
Mount Prospect, Cook County; and
WHEREAS, without the Assessor of 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, CRFl/Golub Mt. Prospect, L.L.C., an Illinois limited liability company
acquired by Warranty Deed recorded with the Recorder of Deeds of Cook County on
July 28, 2003 as Document Number 320911001 and is the record fee owner (the "Fee
Owner") of the real property commonly known as 1800 West Central Road, Mount
Prospect, IL (the "Property"); and
WHEREAS, in 1998, the Cook County Assessor granted a Class 6b status for the
Property for a term of ten (10) years expiring in 2007, however the Assessor ceased the
Class 6b status for the Property in 2003; and
WHEREAS, the Property has remained vacant since 2003 and the Fee Owner of the
Property has requested the Village to again support application for a Class 6b status for
the Property; and
WHEREAS, the corporate authorities of the Village of Mount Prospect believe that the
Fee Owner's request for a Class 6b status for the Property 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:
SECTION ONE: That the President and Board of Trustees of the Village of Mount
Prospect do hereby support and consent to the Fee Owner's application for the Class 6b
status for the Property, which Class 6b status allows a 16% assessment level for the first
10 years, 23% in the 11th year and 30% in the 1ih year for the Property, which is legally
described on Exhibit A attached hereto and made a part hereof.
Former underlying PIN of the Property:
New PI Ns for the Property:
03-33-300-073-0000
03-33-300-081-0000 and
03-33-300-082 -0000
iManage:204939_1
....-.........,......."...,.... r-\~, .t..,"_t~
ATTACHMENT TO RESOLUTION
PARCEL 1:
LOT I IN AM CENTRAL ROAD - MUL TIGRAPHICS RESUBDIVISION,
BEING A RESUBDIVISION OF PART OF LOT 'A' AND PART OF LOT 'D' IN
KIRCHOFF'S SUBDIVISION IN THE WEST 1/2 OF THE SOUTHWEST 1/4 OF
SECTION 33, TOWNSHIP 42 NORTH, RANGE 11, EAST OF THE THIRD
PRINCIPAL MERIDIAN, EXCEPT THAT PART OF LOT 1, DESCRffiED AS
FOLLOWS:
BEGINNING AT THE SOUTHWEST CORNER OF SAID LOT 1; THENCE
NORTH 00 DEGREE, 00 MINUTE, 00 SECOND EAST ALONG THE
WEST LINE OF SAID LOT 1, A DISTANCE OF 29.563 METERS (96.96
FEET); THENCE NORTH 90 DEGREES, 00 MINUTE, 00 SECOND EAST
3.657 METERS (12.00 FEET); THENCE SOUTH 00 DEGREE, 00
MINUTES, 00 SECOND EAST ALONG A LINE THAT IS 3.657 METERS
(12.00 FEET) EAST OF AND PARALLEL WITH THE SAID WEST 1/2 OF
LOT 1, A DISTANCE OF 16.795 METERS (55.10 FEET); THENCE
SOUTH 45 DEGREES, 00 MINUTE, 36 SECONDS EAST 12.929 METERS
(42.42 FEET); THENCE SOUTH 89 DEGREES, 52 MINUTES, 00
SECOND EAST ALONG A LINE THAT IS 3.657 METERS (12.00 FEET)
NORTH OF AND PARALLEL WITH THE SOUTH LINE OF LOT 1, A
DISTANCE OF 63.225 METERS (207.43 FEET); THENCE SOUTH 00 .
DEGREE, 08 MINUTES, 00 SECOND WEST 3.657 METERS (12.00 FEET)
; THENCE NORTH 89 DEGREES, 52 MINUTES, 00 SECOND WEST
ALONG THE SOUTH LINE OF SAID LOT 1, A DISTANCE OF 76.017
METERS (249.40 FEET) TO THE PLACE OF BEGINNING,
ALSO EXCEPT THAT PART OF LOT I, DESCRIBED AS FOLLOWS:
COMMENCING AT THE SOUTHWEST CORNER OF SAID LOT 1; THENCE
NORTH 89 DEGREES, 52 MINUTES 00 SECOND EAST ALONG THE SOUTH LINE
OF SAID LOT 1, A DISTANCE OF 190.528 METERS (625.09 FEET) FOR A PLACE
OF BEGINNING; THENCE NORTH 45 DEGREES, 04 MINUTES 08 SECONDS
EAST 17.223 METERS (56.50 FEET); THENCE SOUTH 89 DEGREES, 52 MINUTES,
00 SECONDS EAST 21.336 IvIETERS (70.00 FEET); THENCE SOUTH 44 DEGREES,
56 MINUTES, 00 SECOND EAST 12.947 METERS (42.48 FEET); THENCE SOUTH
89 DEGREES, 52 MINUTES, 00 SECOND EAST ALONG A LINE THAT IS 3.048
METERS (l 0.00 FEET) NORTH OF AND PARALLEL WITH THE SAID SOUTH
LINE OF LOT I, A DISTANCE OF 41.456 METERS (136.01 FEET); THENCE
SOUTH 00 DEGREES, 00 MINUTE, 00 SECOND WEST ALONG THE EASTERLY
LINE OF SAID LOT 1, A DISTANCE OF 3.048 METERS (10.00 FEET); THENCE
NORTH 89 DEGREES, 52 MINUTES, 00 SECOND WEST ALONG THE SAID
03209110011IHr' ~
SOUTH LINE LOT 1, A DISTANCE OF 84.129 METERS (276.01 FEET) TO THE
PLACE OF BEGINNING, ALL IN COOK COUNTY, ILLINOIS.
. n
_ _ J.
lIt...
____ ~~..._.~..A __ _..1....-.-..,- .-,.~...,..,.. L..
EASEMENT FOR THE BENEFIT OF PARCEL 1 AFORESAID AS CREATED BY.
GRANT OF MUTUAL EASEMENT MADE BY AND BETWEEN THE PIONE .
TRUST AND SAVINGS BANK AS TRUSTEE UNDER TRUST NUMBER II 6
AND CHARLES BRUNING COMPANY, INC., A DELAWARE CORPORA' ON,
DATED FEBRUARY 7,1959 AND RECORDED FEBRUARY 18,1959 AS
DOCUMENT 17459368 AS AMENDED BY DECLARATION AND AME DMENT
TO EASEMENT BY AND BETWEEN PIONEER TRUST AND SAVIN 'BANK, AS
TRUSTEE UNDER TRUST NUMBER 11916 AND ADDRESSOG
MUL TIGltAPH CORPORATION, ADELA W ARE CORPORATION A TED
AUGUST 6,1964 AND RECORDED AS SEPTEMBER 1,1964 AS OCUMENT
19231456 FOR PRIV ATE ROAD OVER THE FOLLOWING DE RIB ED LAND:
A STRIP OF LAND 40 FEET IN WIDTH OVER AND ACR S PART OF LOT "D"
IN KIRCHOFF'S SUBDIVISION IN SECTION 33, TOWN IP 42 NORTH, RANGE
II, EAST OF THE THIRD PRINCIPAL MERIDIAN, AC RDING TO THE PLAT
THEREOF RECORDED MAY 22,1917 AS DOCUME 61172j96, THE
CENTERLINE OF WHICH IS DESCRIBED AS:
COMMENCING AT THE INTERSECTION OF T ~ WEST LINE OF SAID LOT "D"
WITH THE SOUTH LINE OF THE NORTH Y2 THE NORTHWEST 14 OF THE
SOUTHWEST 14 OF SECTION 33, THENCE AST ALONG SAID SOUTH LINE, A
DISTANCE OF 5.0 FEET TO A POINT OF URVE; THENCE SOUTH AND EAST
ALONG A CURVED LINE CONVEX T HE NORTH AND HAVING A RADIUS
OF 1094.58 FEET, A DISTANCE OF 2 .56 ARC MEASURE, TO A POINT OF
REVERSE CURVE; THENCE sour AND EAST ALONG A CURVED LINE
CONVEX TO THE SOUTH AND VING A RADIUS OF 1094.58 FEET;A
DISTANCE OF 209.56 FEET TO POINT OF 40.0 FEET, MEASURED AT RIGHT
ANGLES, SOUTH OF TRES ,TH LINE OF THE NORTH Y2 OF THE
NORTHWEST 14 AND THE UTHWEST 14 OF SAID SECTION 33; THENCE
EAST ALONG A LINE 40 FEET SOUTH OF AND PARALLEL WITH SAID
SOUTH LINE, A DIST CE OF 245.55 FEET TO A POINT ON THE EAST LINE OF
THE NORTHWEST ~ F THE SOUTHWEST 1;4 OF SAID SECTION 33,
(EXCEPTING THE FROM THAT PART THEREOF FALLING WITHIN PARCEL I
AFORESAID), ,/ OOK COUNTY, ILLINOIS.
~
Page 2/3
CFRI/Golub
Class 6 Tax Abatement
SECTION TWO: That the Village of Mount Prospect supports industrial growth,
increased employment and economic development and the Fee Owner's proposed
development of the Property is in furtherance of this goal. The Board of Trustees of the
Village of Mount Prospect further finds that the Class 6b incentive is necessary for
development to occur on the Property.
SECTION THREE: That development of the Property is subject to compliance with all
requirements of 1-1 (light industrial) District and development standards of the Village of
Mount Prospect.
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, Juracek, Korn
NAYS:
None
ABSENT:
Lohrstorfer, Zadel
PASSED and APPROVED this 4t~ay of December, 2007.
,
~MY /: JI~
lrW'ila K. Wilks
Mayor
~~dA~
M. Lisa Angell
Village Clerk
H :\CLKO\files\WI N\RES\Class6bcfrigolubdec2007 deannam arie. DOC
iManage:204939_1
Page 2/3
CFRl/Golub
Class 6 Tax Abatement
EXHIBIT A
Lots 1 and 2 in 1800 West Central Road Subdivision, a Subdivision of part of the West ~
of the Southwest y.. of Section 33, Township 42 North, Range 11, East of the Third
Principal Meridian, in the Village of Mount Prospect, Cook County, Illinois, which Plat
was recorded with the Recorder of Deeds of Cook County on November 3, 2006 as
Document No. 0630717117.
PI Ns: 03-33-300-081-0000
03-33-300-082-0000
formerly described as: SEE ATTACHED LEGAL DESCRIPTION
Underlying PIN:
03-33-300-073-0000
iManage:204939_1