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PROPOSED NO CASH BID REQUEST
Requestor: Paul S. Braun, Mayor, Village of Flossmoor
Request: Approval of No Cash Bid Request
Location: Village of Flossmoor
Volume and Property Index Number:
178, 31-11-303-002-0000; 178, 31-11-303-007-0000; 178, 31-11-303-019-0000; 178, 31-11-303-036-0000
Summary: The Village of Flossmoor is interested in receiving a No Cash Bid for the parcels identified in this letter of request. The Village of Flossmoor "Village" has established a Tax Increment Financing District "T.I.F." within the southwest area of the Village to promote the commercial development of the real estate located therein. The Village has acquired by purchase a number of parcels in an effort to advance the commercial development within the T.I.F., and desires to participate in the Cook County No Cash Bid program in order to acquire the four tax delinquent parcels shown in this letter request. The Volume and PIN's for the four parcels making up this request, each and all of which are located within the Village's T.I.F, are as follows. The above listed parcels would be used by the Village, alone or in combination with other parcels acquired by the Village by purchase, to advance the commercial development within the Village's T.I.F. District to the benefit of the Village and all other taxing districts within the T.I.F. District. Each and all of the four parcels shown above are vacant land (no buildings) and are tax delinquent.
The Village will file for tax exempt status on each and all of the above listed parcels and hold them with other exempt parcels within the T.I.F. until such time as appropriate commercial development is identified and approved. No third party requestors are currently involved in this request and the Village has no agreements or proposals from any third parties regarding the above shown subject parcels. The Village Attorney is retained as legal counsel to obtain the tax deeds for the subject parcels and the Village...
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