HomeMy WebLinkAboutRes 49-02 11/06/200210/29/02
10/30/02
RESOLUTION NO. 49-02
A RESOLUTION IN SUPPORT OF A.W. ZENGELER, 420 KINGSTON COURT,
MOUNT PROSPECT, ILLINOIS, MAKING APPLICATION FOR
COOK COUNTY CLASS 6 TAX ABATEMENT
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 the neighboring counties of Lake and DuPage in attracting
industrial development; and
WHEREAS, A.W. Zingier has requested the Village of Mount Prospect to support their
application for a Class 6 real propertyclassification at 420 Kingston Court; 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 A.W. Zengeler, located at 420
Kingston Court, for a Class 6 Property Classification from Cook County, which allows a
16% assessment level for years one through eight, 23% for year nine, and 30% for year
ten, for the property legally described as follows:
Lot Three in Kensington Center- Resubdivision 25 in part of the Northeast Quarter
of Section 35, Township 42 North, Range 11, East of the 3rd Principal Meridian,
according to the plat filed for record February 1,1989 in the Office of the Registrar
of Titles as Document No. LR-3770802, all in Cook County, Illinois; and
Containing 213,921 square feet or 4.9109 acres more or less.
Permanent Index Number Permanent Index No.03-35-200-051
age 2/2
Class 6 Tax Abatement
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 (Light Industrial) District and development standards of the
Kensington Center for Business.
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:
Hoefert, Skowron, Wilks, Zadel
NAYS: None
ABSENT: Corcoran, Lohrstorfer
PASSED and APPROVED this 6t" day of November, 2002.
Village Clerk
H:\G E Nlfile$\WIN\RES~CIass 6 tax abatement, Nov,02.doc