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 4/8/2014 at 12:00 PM

14-1801

Thu, 26 Apr 2018 13:39:41 GMT

File #: 14-1801
Ver.: 1
Agenda #:
Type: Resolution
Title: PROPOSED RESOLUTION DAUBERT CROMWELL, 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 Daubert Cromwell, LLC and Resolution No. 2013-8-R-2 from the Village of Alsip for an abandoned industrial facility located at 3655 W. 127th Street, Alsip, Cook County, Illinois, Cook County District 6, Permanent Index Number 24-35-100-028-0000; 24-35-100-033-0000 and 24-35-200-010-0000; 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 re
Action: recommend for approval
Result: Pass

14-1802

Thu, 26 Apr 2018 13:50:04 GMT

File #: 14-1802
Ver.: 1
Agenda #:
Type: Resolution
Title: PROPOSED RESOLUTION MR. N 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 Mr. N LLC or Assignee and Resolution No. 40-13 from the Village of Elk Grove Village for an abandoned industrial facility located at 951 E. Oakton Street, Elk Grove Village, Cook County, Illinois, Cook County District 17, Permanent Index Number 08-27-102-046-0000; 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 assessmen
Action: recommend for approval
Result: Pass

14-1930

Thu, 26 Apr 2018 13:39:41 GMT

File #: 14-1930
Ver.: 1
Agenda #:
Type: Ordinance Amendment
Title: PROPOSED SUBSTITUTE TO 14-1930 PROPOSED ORDINANCE AMENDMENT AMENDMENT TO ASSESSMENT CLASSES - CLASS 7C BE IT ORDAINED, by the Cook County Board of Commissioners that Chapter 74 Taxation, Article II Real Property Taxation, Division 2, Section 74-63 through 74-73 of the Cook County Code of Ordinances are hereby amended as follows: Sec. 74-63. Assessment classes. Real estate is divided into the following assessment classes: (1) Class 1. Unimproved real estate. (2) Class 2. Real estate: a. Used as a farm; b. Used for residential purposes when improved with a house, an apartment building of not more than six living units, or residential condominium, a residential cooperative or a government-subsidized housing project, if required by statute to be assessed in the lowest assessment category; c. Improved with a building put to commercial and residential use, of six or less units where the building measures less than 20,000 square feet of above grade space; or d. Real estate improved with a single room occupancy building, as defined in this division, provided
Action: recommend for deferral
Result: Pass