Board of Commissioners of Cook County - Meeting of Finance Subcommittee on Real Estate and Business and Economic Development (Inactive. There is now a Business and Economic Developement Committee and real estate items in the Asset Managment Committee) on 3/11/2014 at 12:30 PM

14-0713

Fri, 26 Jan 2018 15:39:51 GMT

File #: 14-0713
Ver.: 1
Agenda #:
Type: Resolution
Title: PROPOSED RESOLUTION HMK 1100, LLC 6B PROPERTY TAX INCENTIVE REQUEST WHEREAS, the Cook County Board of Commissioners has adopted a Real Property Assessment Classification 6b that provides an applicant a reduction in the assessment level for an industrial facility; and WHEREAS, the County Board of Commissioners has received and reviewed an application from HMK 1100, LLC and Resolution No. 42-13 from the Village of Elk Grove Village for an abandoned industrial facility located at 1100 Touhy Avenue, Elk Grove Village, Cook County, Illinois, Cook County District 17, Permanent Index Number 08-27-303-013-0000; and WHEREAS, Cook County has defined abandoned property as buildings and other structures that, after having been vacant and unused for at least 24 months, are purchased for value by a purchaser in whom the seller has no direct financial interest; and WHEREAS; industrial real estate is normally assessed at 25% of its market value, qualifying industrial real estate eligible for the Class 6b can receive a significant reduction in the level of assessment from
Action: recommend for approval
Result: Pass

14-0715

Fri, 26 Jan 2018 15:39:51 GMT

File #: 14-0715
Ver.: 1
Agenda #:
Type: Resolution
Title: PROPOSED RESOLUTION CHARLES EQUIPMENT ENERGY SYSTEM, LLC 6B PROPERTY TAX INCENTIVE REQUEST WHEREAS, the Cook County Board of Commissioners has adopted a Real Property Assessment Classification 6b that provides an applicant a reduction in the assessment level for an industrial facility; and WHEREAS, the County Board of Commissioners has received and reviewed an application from Charles Equipment Energy System, LLC and Resolution No. R-91-13 from the City of Des Plaines for an abandoned industrial facility located at 530 Santa Rose, Des Plaines, Cook County, Illinois, Cook County District 17, Permanent Index Number 09-31-200-016-0000; and WHEREAS, Cook County has defined abandoned property as buildings and other structures that, after having been vacant and unused for at least 24 months, are purchased for value by a purchaser in whom the seller has no direct financial interest; and WHEREAS; industrial real estate is normally assessed at 25% of its market value, qualifying industrial real estate eligible for the Class 6b can receive a significant reduction in th
Action: recommend for approval
Result: Pass

14-1353

Fri, 26 Jan 2018 15:39:51 GMT

File #: 14-1353
Ver.: 1
Agenda #:
Type: Resolution
Title: PROPOSED RESOLUTION VK ACQUISITIONS II, LLC 6B PROPERTY TAX INCENTIVE REQUEST WHEREAS, the Cook County Board of Commissioners has adopted a Real Property Assessment Classification 6b that provides an applicant a reduction in the assessment level for an industrial facility; and WHEREAS, the County Board of Commissioners has received and reviewed an application from VK Acquisitions II, LLC or Assignee and Resolution No. 28-13 from the Village of Elk Grove Village for an abandoned industrial facility located at 221 Joey Drive, Elk Grove Village Cook County, Illinois, Cook County District 17, Permanent Index Numbers 08-22-102-230-0000; and WHEREAS, Cook County has defined abandoned property as buildings and other structures that, after having been vacant and unused for at least 24 months, are purchased for value by a purchaser in whom the seller has no direct financial interest; and WHEREAS, industrial real estate is normally assessed at 25% of its market value. Qualifying industrial real estate eligible for the Class 6b can receive a significant reduction in the level
Action: recommend for approval
Result: Pass

14-1359

Fri, 26 Jan 2018 15:39:51 GMT

File #: 14-1359
Ver.: 1
Agenda #:
Type: Resolution
Title: PROPOSED RESOLUTION GERALD G. WARNER 6B PROPERTY TAX INCENTIVE REQUEST WHEREAS, the Cook County Board of Commissioners has adopted a Real Property Assessment Classification 6b that provides an applicant a reduction in the assessment level for an industrial facility; and WHEREAS, the County Board of Commissioners has received and reviewed an application from Gerald G. Warner and Resolution No. 13-001 from the Village of Bedford Park for an abandoned industrial facility located at 6312 W. 74th Street, Bedford Park, Cook County, Illinois, Cook County District 11, Permanent Index Number 19-29-100-055-0000 and 19-29-100-062-0000; and WHEREAS, Cook County has defined abandoned property as buildings and other structures that, after having been vacant and unused for at least 24 months, are purchased for value by a purchaser in whom the seller has no direct financial interest; and WHEREAS; industrial real estate is normally assessed at 25% of its market value, qualifying industrial real estate eligible for the Class 6b can receive a significant reduction in the lev
Action: recommend for approval
Result: Pass

14-1366

Fri, 26 Jan 2018 15:39:51 GMT

File #: 14-1366
Ver.: 1
Agenda #:
Type: Resolution
Title: PROPOSED RESOLUTION GULLO DEVELOPMENT CORPORATION 6B PROPERTY TAX INCENTIVE REQUEST WHEREAS, the Cook County Board of Commissioners has adopted a Real Property Assessment Classification 6b that provides an applicant a reduction in the assessment level for an industrial facility; and WHEREAS, the County Board of Commissioners has received and reviewed an application from George Gullo Development Corporation located in Unincorporated Cook County for a renewal of an existing Class 6b tax incentive for an industrial facility located at 2050 Higgins Road, Elk Grove Village, Illinois, Cook County District 17, Permanent Index Numbers 08-26-102-041-0000;and WHEREAS, Cook County has defined that the classification period for Class 6b shall continue for 12 years from the date such new construction (excluding demolition if any), or such substantial rehabilitation was completed and initially assessed, or in case of abandoned property, from the date of substantial reoccupancy; and WHEREAS, the Class 6b classification may be renewed during the last year in which a property is
Action: recommend for approval
Result: Pass