HomeMy WebLinkAboutRes 48-90 11/20/1990 caf
RESOLUTION NO. 48-90
A RESOLUTION IN SUPPORT OF THE VOLVO HYDRAULICS,
LOCATED WITHIN THE ROGERS CORPORATE PARK,
MAKING APPLICATION FOR COOK COUNTY CLASS 6b TAX EXEMPTION
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 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 in the neighboring
counties of Lake and Du Page in attracting industrial development;
and
WHEREAS, Volvo Hydraulics, a wholly-owned subsidiary of Volvo
International Company has requested the Village of Mount Prospect
to support their application for a Class 6b 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 of the Village
of Mount Prospect do hereby support and consent to the application
of Volvo Hydraulics for a Class 6b Property Classification from
Cook County, which allows a 16% assessment level for 8 years for
the property located within the Rogers Corporate Park and
identified in Exhibit "A" attached hereto and hereby made a part
hereof.
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 find
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 (Light Industrial)
District and development standards of the Rogers Corporate Park.
SECTION FOUR: That this Resolution shall be in full force and
effect from and after its passage and approval in the manner
provided by law.
AYES: Arthur, Corcoran, Floros, Van Geem
NAYS: None
ABSENT: 8u$$e, Wattenber9
PASSED and APPROVED this 20th day of November , 1990.
Gerald L. /Farley
ATTEST: Mayor
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Carol A. Fields
Village Clerk
EXHIBIT "A"
Building A of the Roberts Industrial Park North, being
Subdivision of part of the Northeast Quarter of the
Southeast Quarter of Section 23, Township 41 North, Range
11, East of the Third Principal Meridian, Cook County,
Illinois, recorded as Document No. 90 190140