HomeMy WebLinkAboutRes 25-24 06/04/2024 In Support Of Lake Center Industrial, L.P.'s Application For A Renewal Of A Class 6B Incentive For Their Property Located at 1780 Wall Street, Mount Prospect, ILRESOLUTION NO. 25-24
A RESOLUTION IN SUPPORT OF
LAKE CENTER INDUSTRIAL, L.P.'S APPLICATION FOR A RENEWAL OF A
CLASS 6B INCENTIVE FOR THEIR PROPERTY LOCATED AT
1780 WALL STREIT. 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, Lake Center Industrial, L.P. has requested the Village of Mount
Prospect support its application for renewal of the Class 6B Real Property
Classification at 1780 Wall Street, Mount Prospect, Illinois, Cook County; 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 1780 Wall Street and legally described as:
LOT 1 IN LAKE CENTER PLAZA NO.3, A SUBDIVISION OF LOTS
3 TO 7 IN LAKE CENTER PLAZA, A RESUBDIVISON OF PART OF
LOT 4 IN THE LINEMAN'S DIVISION AND LOTS 2 IN THE LAKE
CENTER PLAZA RESUBDIVISION 2 IN THE EAST '/i OF THE
NORTHEAST 1/4 OF SECTION 23, TOWNSHIP 41 NORTH, RANGE
11 EAST OF THE THIRD PRINCIPAL MERIDIAN ACCORDING TO
THE PLAT OF RESUBDIVISION RECORDED JULY 16, 2009 AS
DOCUMENT 0819145106 IN COOK COUNTY, ILLINOIS
Property Index Number: 08-23-203-041-0000
SECTION TWO: That the Village of Mount Prospect supports industrial
growth, increased employment and economic development and the subject
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: Dante, Filippone, Gens, Grossi, Matuszak, Saccotelli
NAYS: None
ABSENT: None
PASSED and APPROVED this 4th day June 2024.
Mayor
ATTEST:
Karen M. Agoranos
Village Clerk