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Home My WebLink About6.2 A RESOLUTION IN SUPPORT OF ANDREWS PRODUCTS INC.'S APPLICATION FOR A RENEWAL OF THEIR COOK COUNTY CLASS 6B TAX INCENTIVE FOR THE PROPERTY LOCATED AT 431 KINGSTON COURT.IL Mr�GauC'd'+rt;�iect Item Cover Page Subject.. O PRODUCTS INC.'S APPLICATION FOR A RENEW OF THEIR COOK• .: TAX INCENTIVE FOR THE PROPERTY LOCATED AT 4331, KINGSTON COURT. Meeting June 21, 2022 - REGULAR MEETING OF THE MOUNT PROSPECT VILLAGE BOARD - Fiscal Impact Dollar Amount Budget Source Category CONSENT AGENDA Type Consent Attached to this memorandum is a resolution that would grant approval of a renewal of a Class 6b property tax incentive for Andrews Products Inc.'s (Andrews) for their property located at 431 Kingston Court. The request is for a renewal of their Class 6b that would enable Andrews to continue to operate their facility in the Kensington Business Center. 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. Andrews currently employs 50 full time staff consisting of management, administrative support and machinist positions. Andrews manufactures machine parts, most of which are used on motorcycles and vehicles that are part of the National Association for Stock Car Auto Racing. 1 Andrews 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. Staff has reviewed Andrews application and is supportive of their request for the approval of an inducement resolution supporting their application to Cook County for the renewal of their class 6b tax incentive. Alternatives 1. Approve the resolution in support of Andrews Products Inc.'s application for the renewal of their Cook County Class 6b tax incentive for the property located at 431 Kingston Court. 2. Discretion of the Village Board. Staff Recommendation Staff recommends that the Village Board approve the resolution in support of Andrews Products Inc.'s application for the renewal of their Cook County Class 6b tax incentive for the property located at 431 Kingston Court. ATTACHMENTS: Request for 6B Renewal - Andrews Products Inc_.pdf Res 6B RENEWAL Andrews Products inc.pdf 2 LEONARD E AMARI JOSEPH F 1.0CALL0. JR. JOHN G. LC)CAIAL0 ANTHONY M. FARACE FRANC(') A. C 0LADIPIETRO KA'I'HE R IN F-. A. O'DELL )O,SEPI-I F. LOCALLO. 111 VESNA MARUSIC DANIEL R. LYNCH VINCENT A. OPPEDISANO June 3, 2022 Village of Mount Prospect c/o Mr. William Cooney, AICP 50 S. Emerson St. Mount Prospect, IL 60056 LAW OFFICES AMA R I &� LOCALLCD 734 1NORTII WELLS SLREE"I' C,111CAGO. ILLINOIS 60654 "CELEPHtDNE (312) 255-8550 FAC51M1LE ( 312) 255-8551 www. amariandlocallo. coni 236 WEST LAKE STREFT..SUITE 100 BLOOMINGF)ALE, ILLINOIS (30108 TELEPHONE ((330) 307-3700) FACSIMILE (630) 307-3737 RE: Renewal of Class 6B Real Estate Tax Incentive Address: 431 Kingston Court Parcels: 03-35-200-069 Petitioner: Andrews Products. Dear Mr. Cooney: OF COUNSEL RICHARD J. CALDAR.AZZO MICHAEL. V FAVIA BRYAN P, I.,YNC.H BRUNO 1, I"ASSC,')NI, We are sending this letter on behalf of Andrews Products Inc. ("Andrews"), occupant of the real estate located at 431 Kingston Court, Mount Prospect, IL, identified by Property Index numbers 03-35-200- 069-0000. We are requesting a Municipal Resolution from the Village of Mount Prospect in support of a renewal of the 613 real estate tax incentive. The subject property consists of a 49,885 square foot industrial building situated on 122,931 sq. ft. of land. The building is 18 years old. The property is owned by Prairie Dog Properties, LLC a related business entity of Andrews. The property is used for the light manufacture of machine parts, most of which are used on motorcycles and vehicles that are a part of the National Association for Stock Car Auto Racing. The following reasons justify the Village's support of the Renewal of the 613 incentive: • EmMoment; o There are currently 50 full / part-time employees working at the facility. o Many of the employees live in or around Mount Prospect. o Since 2012 job growth has increased 21%. o Andrews is looking to hire more employees and will work with the Village to employee local residents. • Investment• o Over the past 2 years, the HVAC systems were replaced costing over $100,000 3 o Andrews purchases approx. $200,000 to $300,000 in new equipment each year. o Andrews intends on replacing the roof within the next year. o The building has been properly maintained, is environmentally friendly and has no municipal code violations. • Local Outreach: o Andrews purchases supplies from local vendors such as Menards, Home Depot and NW Electric. o Andrews has daily lunch outings, annual office outings and entertains customers at local restaurants in Mount Prospect. o Prior to the COVID-19 pandemic, Andrews was an annual sponsor to the local little league and intends on sponsoring again in the future. The 6B real estate tax incentive has been a success and had a major positive impact over the past 10 years. It allowed Andrews to grow as a company and add jobs to the economy. The renewal of the 6b incentive will not adjust the tax levy, the real estate taxes will remain consistent. If the 6B real estate tax incentive is not renewed and expires, the real estate taxes will increase significantly. The increase would have a detrimental impact on future job growth and could result in job loss. Ownership would be forced to consider other locations, which would result in the property becoming vacant. We have attached real estate tax projections based on the following scenarios. 1. Estimated Real Estate Tax projection if the incentive is renewed. 2. Estimated Real Estate Tax projection if the incentive is not renewed. 3. Estimated Real Estate Tax projection if the incentive is not renewed and the building became vacant. Please let us know, as soon as possible, when this issue can be addressed at a Village meeting. We thank you in advance for your cooperation and attention to these details. As always, please feel free to contact us with any questions or if more information is needed. Y, ,ocallo, III Enclosures: 4 MOUNT PROSPECT RESOLUTION 30-12 MAYOR Irvana K Wilks TRUSTEES Paul Wm Hoefert Arlene A. juracek A. John Korn John J. Matuszak Steven S. Polit Michael A. Zadel Village of Mount Prospect 50 South Emerson Street, Mount Prospect, Illinois 60056 VILLAGE MANAGER Michael E. janonis VILLAGE CLERK M. Lasa Angell Phone: 847/392-6000 Fax 847/392-6022 TDD; 847/392-6064 unvtv.m0un fRrospect.org STATE OF ILLINOIS ) ) SS COUNTY OF COOK } I, M. Lisa Angell, do hereby certify that I am the duly appointed Village Clerk of the Village of Mount Prospect and as such, am keeper of the records and files of said Village. I do further certify that attached hereto is a true and correct copy of Resolution No. 30- 12, "A RESOLUTION IN SUPPORT OF ANDREWS PROCUCTS, 431 KINGSTON COURT, MOUNT PROSPECT, ILLINOIS MAKING APPLICATION FOR AN EXTENSION OF COOK COUNTY CLASS '6B TAX ABATEMENT' passed at the regular meeting of the President and Village Board of Trustees held June 5, 2012 at which time the Village Board voted as follows.- AYES: ollows: AYES: Hoefert, Juracek, Korn, Matuszak, Polit, Zadel NAYS: None ABSENT: None all as appears in the official records and files.of.the Village of Mount Prospect. Dated this 19th day of June 2012. r t M. Lisa Angell Village Clerk Village of Mount Prospect Cook County, Illinois (Seal) Ij RESOLUTION NO. 30-12 A RESOLUTION IN SUPPORT OF ANDREWS PRODUCTS, 431 KINGSTON COURT, MOUNT PROSPECT, ILLINOIS, MAKING APPLICATION FOR AN EXTENSION OF 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 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, ANDREWS PRODUCTS, has requested the Village of Mount Prospect support its application for Extension of the Class 6B Real Property Classification at 431 Kingston Court, 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 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 application for the Class 6B Renewal from Cook County for the Property located at 431 Kingston Court and legally described as: LOT 5 EXCEPT THE NORTH 18 FEET) IN KENSINGTON CENTER RESUBDIVISION 25 OF LOT 701 IN KENSINGTON CENTER PHASE 6, A RESUBDIVISION OF OUTLOT 1 IN KENSINGTON CENTER PHASE 3-A, A SUBDIVISION AND A RESUBDIVSION IN PART OF THE NORTHWEST : AND THE NORTHEA-ST'/4 OF SECTION 35 TOGETHER WITH PART OF THE EAST'/2 OF THE NORTHWEST 1/, AND PART OF THE NORTHEAST % OF SECTION 35 TOWNSHIP 42 NORTH, RANGE 11 EAST OF THE THIRD PRINCIPAL MERIDIAN, IN COOK COUNTY, ILLINOIS. PIN: 03-35-200-069-0000 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. 7 Page 2/2 431 Kingston Court Class 613 Tax Abatement SECTION THREE: That this Resolution shall beinfull force and effect from and after its passage and approval inthe manner provided bylaw. AYES: Hoefert.Jurmcek Korn.K8atuozak. Po|it.Zade| NAYS: None ABSENT: None PASSED and APPROVED this 5th day ofJune, 2O12. If'v'ana K. Wilks Mayor M. LLisa Angell Village Clerk H:\CLKO\W|m\M6tax auatement431mngstoncourtjune2O1z.doc ANDREWS PRODUCTS INC About Us Andrews damucts is mc&n� 'Q zed woddolde and ffirouq,Jh �out the Pvor lo�Sports conimunilly, as a degnw s�and manufacturen ot Ndgh, qu,,dity dwiNe pi:mformance mpmement IUVHZ�Fig statin oll: U,.e art eirgineefing des.,.gn and manufac!uHni 1prhmdn gy, Andrews Prcdw��Is !��rodureq mqyi,D��or qua1hy and hap " D' gears for both stj eel 9 —, MIS 0111 and ra61ng ap;),,kaflvns Andomms 14iloducts fs coinnnMed to p!mmvldlng producRs tieil keqj) our 4,,ustomem M the wkm&S m!Ar6e yaw aftef yew Latest lechnology, "I'"Op ('")uality. Ikey to theAnbMH: Flrod=ts sbrategy For sucf,�ess Cs Illumnun.tr 3sinq the lattesh km�lrm!kgy top qu,Mfty rales mate-flal and a ibundatbn of kp4fty first in ever�( pmcess The nmW,RICCinale measurenwit sys�ems [We-Tatedwifli q:iamputm cnntrmlled ICNC) mracW flng guaranty that our ciustorneis recehra- 40s Ihata6aVs inneia, I t qmecffloaifcns AlAn&ews rrochmcts, we share Wilh ow, customers a pa ssiwii for em:eknce and vhR not acorq�it seCiDIII(i PCaCe, Oar customers re�y on us, to hep thern aC�Iir--Ve 8O4 gerfimmance, Title cuftuie i°s weF estabbhed tll'uriDng:holLltAndrLlh%,,,; PrOdILICAS� Hs people and f!v!wes1:xras, And whethervve aTe wa&ng,wfth top race beaiinsl w anaidni(j !Yafts W stmel motorcycles, tinny same lerhncft, �, y [S Use6 Our Facility The,home oI,AnidTi1::ndv:s Piroduds is a ninoderin 45,1300 squaria foot facilfly Mth a comp�061,y aiG ,onffltioned factiary '^n IiAt amsf!mict llf;n6s 't ocatcld SoX MfleS oiWth Of CNIC-,aqU's 01 taie IlWaliematknn�tdliryauait, vve 6ravi:3 arCte!is to an oWsLanifing ,flldHed viwk fame and tipmend'DUS Shit)P'nog MSOUN-sS to ;:wpp!xovi dommsflc and initeii naflon,ifl mustainers 10 Coul")any History And rows Roducts %ras founde (I arr 1972 and I u@s specialized in rnaMng mlirshafts and harisnAs-sktup geals koir the periormance rnolor spolts industry VAUe we staded mak4g lnotomy& t l it gews ami shafts, �!)ertnriinalu,.e allul rokited in:Rhoe gerH I!m� Is soon becaline! addiflonal meas of euj!rerflse," Recognized for Superior Performance T'Acre ours vdih better raftils S(Won" fokwed g 111e llemMs va:t 0 Uears''WNCh O'WSH)f OLA pedonmed anything Ase avafllNlioi hah mpetror pe'u fumiance Was qR6iJJY recq)ndzed by everyonewhco[,iled Mein ,Plie mmemmefty and unkuenesv of bmh Vmcams and gears resulhod 4n a IN awe. of densmd fox minvifindrews canis and gee ns.And that %wis oWyflm beging3i'ing k) M021 Andiows Products rnoved bu a new cu!!Aom buk facilfty lmgHt forAilWTum, Puaducts lin thie subuiif)n As flie bus�nrass qTiaw'q vm R) IIIAHzio our iitmg 05 in camshaft deslgn,, prograiirlmlng and awnWactlne W suppat customem KeqUfihIq prolotype and piM mns W supporl ma`or enc ine development piograms, RcAzIng that mosi of om CUMMIRNS COW not uwasure key dwiacterh:lks iul camqhafts ffio,V Tecic,.,ived, we dovploped an easy io use computer aided calmhdft fills pecflani dwrice First Class Quality & Support Triday, Andmws Roducts is recognizedwoldchwide and ffimughoul the Motor Spurts icon m RMty as art Mustry leader Vle utiEze sWe-of Ifie-art englimering desVgn, manufacturing lechncflogy and d:.omputer co.nNofied inspecluon eqWpinpnt io, pmduce superior quaRly camshafts and aransqnisslolns kor both str(,"e" and facing appdlcafions, Andrews Products has iiiriiade sligifficaro lfnvestimnks hi new computef cunlrokd p°:noduction nocWnery and inspecVon equipment We are betteu a:,,quippod ffia rr ever to serve aH of ow cuslomers wiffi, the firsa cdass quaRy anid suppod that 0 of Vou deserve. 11 '1 (1) �L,l 1" 0 111 111,11 a [I t ....... .... ... lug n factory toor. NO he rh st po ces s :9 Bep Toru all coccus and Ca MShaft is I Ul v dng hk Mmzak Mu ftip�ex is IuHy automaled CNC turnk.T center with aIlbceder andlunAade�, Mazak MC verflca� mifling center used for eA ernle&y accurate keywiapnidfling and other Ngh precWon mflHng operafloiis, 12 Gear tee'h pof transini4ssion gems mr�l n wnshafl part,,., we pmduces on ffips �CNC new ;�,hapat mul IlhabUang Centiam n0l Mmml:, CNC mMI head madAms can gAKAmdUWe dlame= h one Mp and hoW Mlerances of 0003 WhestOO79m) an a diamom Grinding is one d to Sol Meps W the gear and camshii!dt mainufacluflnod' pwicess Andrews Piraducts has samMl UNR�,i andis camshaft griiiideTs lciapabhN dent` jjproresskdg pwts up ton ,4iaches Vig and 4 inichies in dUman Lands grinders are best Wdess deRaming supedm- accumicy, and iqeatabHjty on comiAex pads, 13 I OT, IUIoflo gel°:Ril ghl lei S are i!i,sle:d to flna5-7,9 exacl 4iwai I o0h fIDI M Ow netrodoqy tab is temporature conflofliad, 110 suppi!vt fin procimIss chads Jile giomi umtahrj 13Ie�:ison wd Ziess CNIM 14 15 PHOTOGRAPHS OF THE SUBJECT PROPERTY South and East Elevations West and South Elevations 16 PHOTOGRAPHS OF THE SUBJECT PROPERTY East Elevations North Elevations 17 PHOTOGRAPHS OF THE SUBJECT PROPERTY North and West Elevations Interior View 18 PHOTOGRAPHS OF THE SUBJECT PROPERTY Interior View of First Floor Office Space Interior View of Second Floor Office Space 19 PHOTOGRAPHS OF THE SUBJECT PROPERTY View Looking North on Kingston Court View Looking South on Kingston Court 20 SITE AND IMPROVEMENT DESCRIPTION 21 SITE DESCRIPTION AND DATA Location: 431 Kingston Court Mount Prospect, Illinois 60056 Wheeling Township Cook County P .I.N.: 03-35-200-069 Description: The parcel is primarily rectangular with frontage on the east side of Kingston Court. The area is from the Cook County Assessor's Office property records. The subject parcel contains a total of 122,931 square feet. Topography: The parcel is generally level and to the grade of Kingston Court and the surrounding properties. Utilities: The parcel is served by electricity, natural gas, water, storm sewer, sanitary sewer, and telephone. Streets: Access to the subject property is from Kingston Court. Soil and Subsoil: No soil boring samples or test results were provided and no environmental studies were conducted in conjunction with this appraisal. Consequently, no opinion on the soil and sub -soil conditions can be reached. No settling conditions were noted at the time of inspection; however, our conclusions are based upon a visual inspection only. Easements: Only typical utility easements exist for the subject property and no other encroachments or encumbrances of a private nature are known to affect the subject. No title report was available at time of the writing the report. Land to Building Ratio: The subject parcel contains a total of 122,931 square feet and is improved with a one and part two-story industrial building that contains a total of 49,885 square feet. This indicates a land to building ratio of 2.46 to 1.0. Zoning: According to the Village of Mount Prospect, the subject parcel is currently zoned I1: Limited Industrial District. The subject building improvements appear to represent a legal conforming use. 22 DESCRIPTION OF THE IMPROVEMENTS The 122,931 square foot parcel of land is improved with an industrial building containing a total of 49,885 square feet of building area. The following detailed physical description of the subject building improvements is based upon a personal exterior and interior inspection of the property on August 15, 2019. Building Type: Single -User Industrial Building Building Size and Composition: 1St Floor Office Area: 4,904 square feet 2nd Floor Office Area: 4,904 square feet Industrial Area: 40 077 square feet Total Building: 49,885 square feet Stories: One and part two-story (two-story office area) Basement Area: None Age: The subject building was constructed in 2001, indicating an actual age of 18 years old, as of January 1, 2019. Construction: Steel framed and pre -cast concrete panel Foundation: Poured concrete Exterior Walls: Painted pre -cast concrete panel Roof Structure: Flat metal decking with built-up composition Clear Ceiling Height: 30 feet Plumbing: The first floor office area has two men's restroom (each with a water closet and a sink), two women's restrooms (each with a water closet and a sink), and a lunchroom sink. The second floor has two restrooms (each with a shower, a water closet, and a sink) and two water fountains. The industrial area has a men's locker room (two sinks, three urinals, and three water closets) and a women's locker room (three water closets and two sinks). Sprinkler: The entire building is equipped with a wet sprinkler system and a fire alarm system. Lighting: Office.Area: recessed fluorescent and incandescent fixtures Area:, Industrial Area; mounted and suspended fluorescent fixtures 23 Electricity: Although the exact electrical service is not known, the current service appears to be adequate. Heating and Air g: „_ e. w Area; gas fired forced air heat and central air Conditioning: Office,,,,,,, conditioning Industrial Area: roof -top gas fired forced air and central air conditioning units Elevators: The two-story office area is equipped with a 3,000 -pound capacity passenger elevator. Loading Facilities: 2 exterior truck height docks on the south elevation 1 drive-in truck door on the south elevation Interior Description: The subject is a one and part two-story, pre -cast concrete panel constructed, single -user industrial building containing a total of 49,885 square feet with 19.7% office area. The two-story office section is along the east elevation of the building and the first floor consists of an entrance, open office space, individual offices, four restrooms, a conference room, and a lunch room. The second floor office space consists of open office areas, two individual offices, and a fitness room with two restrooms. The second floor office space has a painted exposed metal deck ceiling with exposed duct work and piping and is accessible from two stairways and an elevator. The following is a description of the finish of the office area: Floors: carpet, vinyl tile, ceramic tile, and painted concrete (locker rooms) Walls: painted drywall and glass partition walls Ceilings: suspended acoustical the and painted exposed ,,,,,,,,,,, metal decking The industrial area is open and unfinished and two exterior truck docks and a drive-in truck door are in the southwest corner of this area. The industrial space has the following interior components: Floors: coated concrete Walls: painted pre -cast concrete panel Ceilings,: exposed metal decking 24 DESCRIPTION OF THE IMPROVEMENTS Site Improvements: 13,000 square feet of asphalt pavement and 11,000 square feet of concrete pavement and concrete walks General Condition and Utility: At the time of the inspection, the improvements appeared to be structurally sound and reasonably maintained. The general condition of the subject improvements is average when compared to other industrial buildings of similar size and age. The subject is a single -user industrial building with 19.7% office space (two-story) and a 30 foot clear ceiling height. The asphalt and concrete pavement is in average condition for their ages. The amount of office space is slightly above average and the subject's clear ceiling height is similar to the current industry standards. Comments: Hazardous material may or may not be present in the property, but none was observed. The appraisers have no educated knowledge of the existence of such materials on the property. The presence of these substances, including asbestos, radon, urea -formaldehyde foam insulation, or other potentially hazardous materials may affect the value of the appraised property. The value estimate is predicated on the assumption that no such material is on, in, or near the property. Such materials could cause a loss in value. However, it is noted the appraisers are not qualified to detect such substances. No responsibility is assumed for any such conditions, or for the expertise or knowledge required to discover them. If there is concern regarding the presence of hazardous material, the appraisers recommend retaining an expert in the field. 25 REAL ESTATE TAX ESTIMATES 26 Applicant Andrews Products, Inc. Address 431 Kingston Ct. PIN 03-35-200-069-0000 Tax Rate 0.0947 State„Mu,ltnlier 3.2234 With Reu°iewn, Year Market,VaIme Assessment RE TAX 2022 $ 2,723,721 272,372 $ 83,143.21 2023 $ 2,723,721 272,372 $ 83,143.21 2024 $ 2,723,721 272,372 $ 83,143.21 2025 $ 2,859,907 285,991 $ 87,300.37 2026 $ 2,859,907 285,991 $ 87,300.37 2027 $ 2,859,907 285,991 $ 87,300.37 2028 $ 3,002,902 300,290 $ 91,665.39 2029 $ 3,002,902 300,290 $ 91,665.39 2030 $ 3,002,902 300,290 $ 91,665.39 2031 $ 3,153,048 315,305 $ 96,248.66 2032 $ 3,153,048 472,957 $ 144,372.99 2033 $ 3,153,048 630,610 $ 192,497.32 Total $ 1,219,445.91 WiChout I' enewz Year Market Value ................................--, Assessment ....�..__....... ,t RE TAX 2022 $ 2,723,721 408,558 $ 124,714.82 2023 $ 2,723,721 544,744 $ 166,286.42 2024 $ 2,723,721 680,930 $ 207,858.03 2025 $ 2,859,907 714,977 $ 218,250.93 2026 $ 2,859,907 714,977 $ 218,250.93 2027 $ 2,859,907 714,977 $ 218,250.93 2028 $ 3,002,902 750,726 $ 229,163.48 2029 $ 3,002,902 750,726 $ 229,163.48 2030 $ 3,002,902 750,726 $ 229,163.48 2031 $ 3,153,048 788,262 $ 240,621.65 2032 $ 3,153,048 788,262 $ 240,621.65 2033 $ 3,153,048 788,262 $ 240,621_.65 Total $ 2,562,967.47ntlKK As Vacant Year Market „Value Assessment RE TAX 2022 $ 2,723,721 408,558 $ 124,714.82 2023 $ 2,723,721 544,744 $ 166,286.42 2024 $ 2,723,721 308,288 $ 94,106.65 2025 $ 2,859,907 315,097 $ 96,185.23 2026 $ 2,859,907 315,097 $ 96,185.23 2027 $ 2,859,907 315,097 $ 96,185.23 2028 $ 3,002,902 322,247 $ 98,367.74 2029 $ 3,002,902 322,247 $ 98,367.74 2030 $ 3,002,902 322,247 $ 98,367.74 2031 $ 3,153,048 329,754 $ 100,659.37 2032 $ 3,153,048 329,754 $ 100,659.37 2033 $ 3,153,048 329,754 $ 100,659.37 Total $ 1,270,744.91 27 PROPOSED ASSESSOR RENEWAL APPLICATION 28 �+ COOK COUNTY ASSESSOR'S OFFICE COOK COUNTY ASSESSOR prom ,wm4 � 118 NORTH CLARK STREET, CHICAGO, IL 60602 JOSEPH B E R R I O S PHONE: 312.443.7550 FAx: 312.603.3352 °e `" WWW.COOKCOUNTYASSESSOR.COM CLASS 6B/8 Control Number RENEWAL APPLICATION 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 if located in an unincorporated area, must accompany this Renewal Application. This application, a filing fee of $500.00, and supporting documentation (except drawings and surveys) must be filed. For assistance in preparing this Renewal Application, please contact the Assessor's Office, Development Incentives Department, (312) 603-4137. I. Identification of A Iicant Name: Andrews Produq �„ ww_„ Telephone: ( } 319-755-8550 Federal Employer Identification Number: Address: mc/o Amari & Locallo ggq734 N. Wells �._ ......... m��y City, State: Chica o, IL Zip Code: 60654 Email Address: fliii@amari-locallo.com A ent/Re resentative if an Name: Joseph F. _Locate;Il_ _ Telephone:( ) 3j _ 5-,_jqyjn Address: 734 N. Wells City, State: Chicago, IL Zip Code: 60654 Email Address: fliii@amari—iocallo. coµ 11. Description of Subject Pro erlt Street address:.www_�` City, State: Mount Pro _ Zip Code: Township: Wheelin ,.......... Property Index Number(s): 03,-35-200- 069- 0000 I of 3 1/25/2011 29 Ill. Identification of Persons or Entities Havino 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. Pro peaty 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 Develo ment Indicate the nature of the original development receiving the Class 613/7/8 designation [ New Construction [ ] Substantial Rehabilitation [ ] Occupation of Abandoned Property - No Special Circumstance [ ] 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: Part-time: In Cook County: Full-time: Part-time: VII. Local A royal 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. 2 30 I, __. Application . . ...... 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. Signature Print Name Title 9 Date 0211012020 31 [ This page is intentionally blank ] 32 LEGAL DESCRIPTION 33 David A Orr Clerk of Cook County COUNTY OF COOK MAP DEPARTMENT LOTS FEE'I)jN KEN,5 OF 1. OT 701 IN - ............. . . . . . . . .ION, e -.-- — . ..... j,,NGT, ON CENTERI-R-E-SIJBDIVI SION 25 (EXQUjjjjE.NQ.RT,H., 1-8 C r 11 r . . . ................. . .......... SUBDIVISION . ................ . ....... . 1111--- . . . ....... .............. . . .......... -1-1.1.1,111,11,11,11", . . ...... A. R.E.SUBDI-VISION JN,PART 0,,F-".[...H,E NORTHWEST 1/4 ANDTHE NORTHEAST 1/4 OF SECTION 3� OF THE EAST 1/2 OF THE NORTHWEST 1/4 AND PART OF THE' . .. -1,11,11", .......... . . ...................... . .............. . PART NORTHEAST 1�10F SECT191`41� WWSHIR42 NQJ H RT-Ja&NQE 11 EAST OF THE THIRD PRINCIPAL MER.IDIAN IN CQQK Q0QNj�Lj,LL[N0IS. Fee: $5.00 Supervisor of Maps and Plats . ...1--11,11, ....... . . ....... I"...- � � ...... 34 RESOLUTION NO. A RESOLUTION IN SUPPORT OF ANDREWS PRODUCTS INC.'S APPLICATION FOR A RENEWAL OF THEIR COOK COUNTY CLASS 6B TAX INCENTIVE FOR THE PROPERTY LOCATED AT 431 KINGSTON COURT, 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, Andrews Products Inc., has requested the Village of Mount Prospect support its application for Extension of the Class 6B Real Property Classification at 431 Kingston Court, 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 431 Kingston Court and legally described as: LOT 5 (EXCEPT THE NORTH 18 FEET) IN KENSINGTON CENTER RESUBDIVISION 25 OF LOT 701 IN KENSINGTON CENTER PHASE 6, A RESUBDIVISION OF OUTLOT 1 IN KENSINGTON CENTER PHASE 3-A, A SUBDIVISION AND A RESUBDIVISION IN PART OF THE NORTHWEST 1/4 AND THE NORTHEAST 1/4 OF SECTION 35 TOGETHER WITH PART OF THE EAST 1/2 OF THE NORTHWEST 1/4 AND PART OF THE NORTHEAST 1/4 OF SECTION 35 TOWNSHIP 42 NORTH, RANGE 11 EAST OF THE THIRD PRINCIPAL MERIDIAN, IN COOK COUNTY, ILLINOIS Property Index No. 03-35-200-069-0000; and 35 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 21st day of June 2021. Paul Wm. Hoefert Mayor Karen M. Agoranos Village Clerk 36