File #: 17-1990    Version: 1 Name: ABY PETROLEUM INC. (ABI) CLASS 8 PROPERTY TAX INCENTIVE REQUEST
Type: Resolution (Class 8) No Purchase for Value Status: Approved
File created: 2/22/2017 In control: Business and Economic Development Committee
On agenda: 3/8/2017 Final action: 3/22/2017
Title: PROPOSED RESOLUTION ABY PETROLEUM INC. (ABI) CLASS 8 PROPERTY TAX INCENTIVE REQUEST WHEREAS, the Cook County Bureau of Economic Development received and reviewed a Real Property Assessment Classification 8 application containing the following information: Applicant: Aby Petroleum Inc. (ABI) Address: 1006 E. Sibley Blvd., Dolton, Illinois Municipality or Unincorporated Township: Village of Dolton Cook County District: 6 Permanent Index Number: 29-11-129-050-0000 (formerly known as 29-11-129-039 partial) Municipal Resolution Number: Village of Dolton Resolution No. 14-R-0004 Number of month property vacant/abandoned: 56 months vacant Special circumstances justification requested: Yes Estimated Number of jobs created by this project: 25 full-time, five (5) part-time Estimated Number of jobs retained at this location: None Estimated Number of employees in Cook County: 20 full-time jobs Estimated Number of construction jobs: 10-15 construction jobs Proposed...
Sponsors: TONI PRECKWINKLE (President), EDWARD M. MOODY
title
PROPOSED RESOLUTION

ABY PETROLEUM INC. (ABI) CLASS 8 PROPERTY TAX INCENTIVE REQUEST

WHEREAS, the Cook County Bureau of Economic Development received and reviewed a Real Property Assessment Classification 8 application containing the following information:

Applicant: Aby Petroleum Inc. (ABI)

Address: 1006 E. Sibley Blvd., Dolton, Illinois

Municipality or Unincorporated Township: Village of Dolton

Cook County District: 6

Permanent Index Number: 29-11-129-050-0000 (formerly known as 29-11-129-039 partial)

Municipal Resolution Number: Village of Dolton Resolution No. 14-R-0004

Number of month property vacant/abandoned: 56 months vacant

Special circumstances justification requested: Yes

Estimated Number of jobs created by this project: 25 full-time, five (5) part-time

Estimated Number of jobs retained at this location: None

Estimated Number of employees in Cook County: 20 full-time jobs

Estimated Number of construction jobs: 10-15 construction jobs

Proposed use of property: This property will be used as a commercial restaurant with drive thru window

Living Wage Ordinance Compliance Affidavit Provided: Not required

WHEREAS, the Cook County Board of Commissioners has adopted a Real Property Assessment Classification 8 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 more than 24 continuous months, there has been no purchased for value by a purchaser and the property is in need of substantial rehabilitation; 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 8; and

WHEREAS, in the case of...

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