HomeMy WebLinkAboutRes 05-98 02/17/1998/caf
2/10/9g
RESOLUTION NO. 5=98
A RESOLUTION IN SUPPORT OF C-LINE PRODUCTS
MAKING APPLICATION FOR COOK COUNTY CLASS 6 TAX ABATEMENT
WHEREAS, the Village of Mennt 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 new
businesses to become established in Mount Prospect, Cook County; and
WHEREAS, without the Cook County property tax incentives, Mount Prospect is at a competitive disadvantage
with the neighboring counties of Lake and Du Page in attracting industrial development; and
WHEREAS, C-Line Products, located at 1100 Business Center Drive, has requested the Village of Mount
Prospect to support their application for a Class 6 real property classification; 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 oflhe Village of Mount Prospect do hereby support and
consent to the application of C-Line Products, loent~ at 1100 Business Center Drive, for a Class 6 Property
Classification from Cook County, which allows a 16% assessment level for 8 years for the property legally
described as follows:
Lot 301-B in Kensington Center Resubdivision 14, a subdivision and resubdivision in part of
the Norfla ½ of Section 35, Township 42 Noa~h, Range 11 East of the Third Principal Meridian
in Cook County, Illinois
and further identified by Permanent Index Number 03-35-201-043 and 03-35-201-001.
SECTION TWO: That the Village of Mount Prospect supports industrial growth, increased employment and
economic development and this proposed development is in furtherance of this goal. The Board of Trustees of
the Village of Mount Prospect further finds that this incentive is necessary for development to occur on the
Subject Property.
SECTION THREE: That development of the property is subject to compliance with all requirements of the I- 1
-Line Products Resolution
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(Light Industrial) District and development standards of the Kensington Center for Business.
SECTION FOUR: That this Resolution shall be in full forc~ and eff~t from and after its passage and approval
in the manner provided by law.
AYES: Clowes, Corcoran, Lohrstorfer, Wilks, Farley
NAYS: None
ABSTAIN: Hoefert
ABSENT: Nocchi
PASSED and APPROVED this 17 thdayof February ,1998.
Carol A. Fields
Village Clerk