HomeMy WebLinkAboutRes 30-22 09/20/2022 In support of renewal of their property owner LLC's application for a renewal of their Cook County Class 6B Tax Incentive for the property located at 3001 Malmo Dr., Arlington Heights, IllinoisRESOLUTION NO. 30-22
A RESOLUTION IN SUPPORT OF
BRE ALPHA INDUSTRIAL PROPERTY OWNER LLC'S APPLICATION FOR A
RENEWAL OF THEIR COOK COUNTY CLASS 6B TAX INCENTIVE FOR THE
PROPERTY LOCATED AT 3001 MALMO D:,A ARLINGTON HEIGHTS ILLIN IS
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 Du Page in attracting industrial development; and
WHEREAS, BRE Alpha Industrial Property Owner LLC has requested the Village
of Mount Prospect support its application for renewal of the Class 6B Real
Property Classification at 3001 Malmo Dr., Arlington Heights, 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 BYTHE MAYORAND 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 dowhereby 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 3001 Malmo Drive and legally described as:
LOT 3 AND THE NORTH 100 FEET OF LOT 2 IN ELMHURST-ALGONQUIN
INDUSTRIAL PARK UNIT NUMBER 1, A RESUBDIVISION OF PART OF LOT 3
IN LINNEMAN'S DIVISION OF SECTION 23, TOWNSHIP 41 NORTH, RANGE
11 EAST OF THE THIRD PRINCIPAL MEIRIDIAN, ACCORDING TO THE PLAT
THEREOF RECORDED FEBRUARY 20, 1968 AS DOCUMENT 20409120, IN
COOK COUNTY, ILLINOIS.
APN: 08-23-202-017-0000; 08-23-202-046-0000
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 beinfull force and effect from and
ehar|ts pamsageand approval in the manner provided by law.
NAYS: None
ABSENT: None
Paul Wm. Hoef
Mayor
. . ......... . . . . .
Village Clerk