HomeMy WebLinkAboutRes 28-42 06/18/2024 In Support Of JMD Land, LLC'S Application For A Class 6B Tax Incentive For The Property Located At 2400 Oakton Street, Mount Prospect, IllinoisRESOLUTION NO. 28-42
A RESOLUTION IN SUPPORT OF
JMD LAND, LLC'S APPLICATION FOR A CLASS 6B TAX INCENTIVE FOR THE
PROPERTY LOCATED AT
2400 OAKTON STREET 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 Du Page in attracting industrial development; and
WHEREAS, JMD Land, LLC has requested the Village of Mount Prospect
support its application for a Class 6B Real Property Classification at 2400
Oakton 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:
SErJrION ONEThat the Mayor and Board of Trustees of the Village of Mount
Prospect do hereby support and consent to the application for the Class 6B Tax
Incentive 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 2400 Oakton Street and legally described as:
THE SOUTH '/z OF THE SOUTHWEST 1/4 OF THE SOUTHEAST 1/4
(EXCEPT THE EAST 974.00 FEET, AS MEASURED ON THE
NORTH AND SOUTH LINES THEREOF, AND EXCEPT THE SOUTH
50.0 FEET THEREOF) IN SECTION 23, TOWNSHIP 41 NORTH,
RANGE 11 EAST OFTHE THIRD PRINCIPAL MERIDIAN, COUNTY
OF COOK, STATE OF ILLINOIS.
Property Index Number: 08-23-400-009-0000,
08-23-400-010-0000,
08-23-400-011-0000;
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 18th day June 2024.
Paul Wm- oet
Mayor
ATTEST:
Karen M. Agoranos�
Village Clerk