HomeMy WebLinkAboutRES 29-22 09/20/2022 in support of GKI Industrial Chicago LLC's application for a renewal of their Cook County Class 6B Tax Incentive for the property located at 1500 Bishop Ct., Mount Prospect, IllinoisRESOLUTION NO. 29-22
A RESOLUTION IN SUPPORT OF
GKI INDUSTRIAL CHICAGO LLC'S APPLICATION FOR A RENEWAL OF THEIR
COOK COUNTY CLASS 6B TAX INCENTIVE FOR THE PROPERTY LOCATED AT
1500 BISHOP CT.,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, GKI Industrial Chicago LLC has requested the Village of Mount
Prospect support its application for renewal of the Class 6B Real Property
Classification at 1500 Bishop Ct., 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 wONE: 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 1500 Bishop Court and legally described as:
LOT 804-A IN KENSINGTON CENTER -RESUBDIVISION TWENTY THREE, IN
PART OF THE NORTHEAST 1/4 OF SECTION 35, TOWNSHIP 42 NORTH,
RANGE 11, EAST OF THE THIRD PRINCIPAL MERIDIAN, ACCORDING TO
PLAT THEREOF FILED ON JULY 18, 1998 AS LR3724251, IN COOK COUNTY,
ILLINOIS.
PIN: 03-35-200-045-0000
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
after its passage and approval in the manner provided by law.
AYES: Filippone, Gens, Matuszak, Rogers, Saccotelli, Zadel
NAYS: None
ABSENT: None
PASSED and APPROVED this 20th day of September 2022.
Karen M. Agoran m
Village Clerk