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PROPOSED RESOLUTION
A RESOLUTION ESTABLISHING A COOK COUNTY LAND BANK VACANT LAND PROPERTY TAX INCENTIVE FOR VACANT PROPERTY ACQUIRED BY THE COOK COUNTY LAND BANK AUTHORITY
WHEREAS, Cook County is a home rule unit of local government pursuant to Article VII, Section 6 of the Illinois Constitution; and
WHEREAS, Cook County currently provides property tax incentives, including Class 7b, to encourage investment, redevelopment, rehabilitation, and productive reuse of property; and
WHEREAS, Class 7b provides qualifying commercial properties with a reduced assessment level of 10 percent for ten years, 15 percent in the eleventh year, and 20 percent in the twelfth year; and
WHEREAS, existing property tax incentives are primarily structured around buildings and development projects and do not adequately address the distinct challenges associated with vacant land that must first be acquired, assembled, remediated, planned, and prepared for productive reuse; and
WHEREAS, the Cook County Land Bank Authority ("CCLBA") acquires vacant, abandoned, and distressed properties and facilitates their return to productive use; and
WHEREAS, strategic acquisition and assembly of vacant parcels can support affordable housing, homeownership, community ownership, community land trusts, economic development, parks, open space, urban agriculture, environmental remediation, cultural uses, and other neighborhood assets; and
WHEREAS, the assembly of multiple parcels may require substantial time for acquisition, title clearance, environmental assessment and remediation, zoning, surveying, infrastructure coordination, utilities, curb cuts, easements, community planning, financing, and identification of qualified development or community ownership partners; and
WHEREAS, a temporary property tax incentive during this land assembly period would reduce the carrying costs associated with vacant land and facilitate coordinated, neighborhood-scale acquisition and redevelopment; and
WHEREAS, such an incentive would support a "buy back the block" approach in which the CCLBA and its partners can strategically acquire and assemble contiguous or strategically related parcels rather than relying solely upon parcel-by-parcel disposition; and
WHEREAS, the incentive should encourage productive land assembly while preventing indefinite or speculative holding of vacant property; and
WHEREAS, a twenty-four-month initial assembly period, with the possibility of two additional one-year extensions based upon documented progress, provides a defined framework for complex land assembly while maintaining accountability; and
WHEREAS, Section 9-150 of the Illinois Property Tax Code, 35 ILCS 200/9-150, provides that a property classification for purposes of taxation must be established by ordinance of the County Board; and
NOW, THEREFORE, BE IT RESOLVED, by the President and Board of Commissioners of Cook County, assembled this 24th day of September, 2026, that Cook County hereby establishes as County policy the creation of a Land Bank Vacant Land Property Tax Incentive for qualifying vacant real property acquired by the Cook County Land Bank Authority.
BE IT FURTHER RESOLVED, That the Cook County Bureau of Economic Development, in consultation with the CCLBA, Cook County Assessor, Cook County Treasurer, Cook County Clerk, Cook County Department of Planning and Development, Bureau of Finance, and State's Attorney's Office, shall develop and present an implementing ordinance establishing a legally permissible property tax classification or incentive for qualifying vacant land acquired by the CCLBA.
BE IT FURTHER RESOLVED, That the proposed incentive shall be modeled, where legally permissible, on the assessment benefits of Class 7b and shall provide qualifying property with an assessment level of 10 percent of market value for the first ten years, 15 percent in the eleventh year, and 20 percent in the twelfth year, or such alternative schedule as may be determined appropriate under applicable law.
BE IT FURTHER RESOLVED, That eligible property shall include vacant land acquired by the CCLBA through purchase, donation, tax-delinquency proceedings, governmental transfer, deed in lieu of foreclosure, land-banking agreement, or other lawful acquisition mechanism; and sold by CCLBA to the party requesting the tax incentive.
BE IT FURTHER RESOLVED, That qualifying property may consist of one or more parcels acquired as part of an approved land assembly, neighborhood stabilization, development, community ownership, affordable housing, environmental, open-space, agricultural, cultural, recreational, or other productive-use strategy.
BE IT FURTHER RESOLVED, That the proposed incentive shall provide an initial eighteen (18) month land assembly period during which qualifying vacant property may receive the incentive while the owner completes parcel assembly, environmental remediation, zoning, infrastructure coordination, community planning, financing, development planning, or preparation for community ownership or productive reuse.
BE IT FURTHER RESOLVED, That the CCLBA may approve up to two (2) additional one-year extensions of the assembly period when additional time is necessary to complete an approved land assembly, remediation, development, community ownership, or disposition strategy.
BE IT FURTHER RESOLVED, That the maximum assembly period shall be thirty-six (36) months, consisting of the initial eighteen-month period and up to two twelve-month extensions, and that each extension shall require documented progress and an approved work plan identifying remaining milestones and the anticipated productive use, development, disposition, or community ownership of the property.
BE IT FURTHER RESOLVED, That continued eligibility shall be conditioned upon demonstrated progress toward productive reuse and shall not be available for indefinite or speculative holding of vacant land.
BE IT FURTHER RESOLVED, That the program shall prioritize land assembly and projects that advance:
1. Affordable housing and homeownership;
2. Community ownership and community land trusts;
3. Neighborhood stabilization;
4. Strategic assembly of contiguous or strategically related parcels;
5. Parks, open space, greenways, and community gardens;
6. Urban agriculture and food production;
7. Environmental assessment and remediation;
8. Cultural, artistic, recreational, and community uses;
9. Neighborhood-serving commercial and economic development; and
10. Other community-supported productive uses.
BE IT FURTHER RESOLVED, That, where legally permissible, multiple parcels acquired as part of a coordinated CCLBA land assembly shall be eligible to participate collectively in the incentive, including parcels intended to be consolidated or transferred under common ownership or control.
BE IT FURTHER RESOLVED, That upon completion of the assembly period, property proceeding into an eligible development or permanent productive use may transition to another property tax classification or incentive for which it independently qualifies under applicable law.
BE IT FURTHER RESOLVED, That the implementing ordinance shall establish transparent eligibility, application, certification, extension, reporting, monitoring, suspension, termination, and enforcement requirements and shall include appropriate safeguards against speculative or indefinite land holding.
BE IT FURTHER RESOLVED, That the CCLBA and Bureau of Economic Development shall report annually to the Cook County Board regarding properties participating in the program, parcels assembled, extensions granted, productive uses achieved, community ownership outcomes, and the fiscal impact of the incentive.
BE IT FURTHER RESOLVED, That the implementing ordinance shall be presented to the Cook County Board of Commissioners within 180 days of adoption of this Resolution.
BE IT FURTHER RESOLVED, That nothing in this Resolution shall be construed to supersede the authority or statutory duties of the Cook County Assessor, Treasurer, Clerk, municipalities, or other taxing bodies, and implementation shall be subject to applicable Illinois law.
BE IT FURTHER RESOLVED, That the Clerk of the Cook County Board of Commissioners is hereby authorized and directed to transmit certified copies of this Resolution to the Cook County Assessor, Cook County Treasurer, Cook County Bureau of Economic Development, Cook County Department of Planning and Development, Cook County Land Bank Authority, and Cook County State's Attorney's Office.
Effective Date: This Resolution shall be in full force and effect immediately upon its adoption.
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