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PROPOSED RESOLUTION
2550 WEST GOLF, LLC 7B PROPERTY TAX INCENTIVE REQUEST
WHEREAS, the Cook County Bureau of Economic Development received and reviewed a Real Property Assessment Classification 7b application containing the following information:
Applicant: 2550 West Golf, LLC
Address: 2550 West Golf Road, Rolling Meadows, Illinois
Municipality or Unincorporated Township: City of Rolling Meadows
Cook County District: 15
Permanent Index Number: 08-08-301-041-0000 and 08-08-301-042-0000
Municipal Resolution Number: Resolution No 18-R-05, passed January 23, 2018 in support of the Class 7b tax incentive
Number of month property vacant/abandoned: Number of months vacant 28 months
Special circumstances justification requested: Yes
Class 7b five eligibility requirements have been satisfied: Yes
Estimated Number of jobs created by this project: 200 full-time jobs
Estimated Number of jobs retained at this location: 400 full-time jobs
Estimated Number of employees in Cook County: Same as above
Estimated Number of construction jobs: 50 construction jobs
Proposed use of property: Commercial use, multi-tenant office space
WHEREAS, the Cook County Board of Commissioners has adopted a Real Property Assessment Classification 7b that provides an applicant a reduction in the assessment level for an abandoned industrial facility; and
WHEREAS, the Cook County Classification System for Assessment defines abandoned property as buildings and other structures that, after having been vacant and unused for at least 24 continuous months, have been purchased for value by a purchaser in whom the seller has no direct financial interest; and
WHEREAS, in the instance where the property does not meet the definition of abandoned property, the municipality or the Board of Commissioners, may determine that special circumstances may exist that justify finding that the property is abandoned for purpose of Class 7b; and
WHEREAS, in the case of abandonment of more ...
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