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PROPOSED NO CASH BID REQUEST
Requestor: Joseph T. Tamburino, Mayor, Village of Hillside
Request: Approval of No Cash Bid Request
Location: Village of Hillside
Volume and Property Index Number:
168, 15-17-404-012-0000
Summary: This Request Package contains one (1) PIN. The intended use for this occupied industrial parcel is to demolish the structure(s) currently located on the parcel and construct a municipal public works facility or to transfer the parcel to a developer to redevelop the parcel for retail or light industrial uses, which uses will greatly benefit the Village by eliminating blight and enhancing the Village's economic base. The parcel is located within the Roosevelt Road Redevelopment Project Area.
The Village will file for tax exempt status upon acquisition of the PIN because it will retain the PIN for municipal use or will maintain such tax exempt status until the tax deed for the PIN is conveyed to a developer. The Village has not received a request from a third party by which the Village would convey the certificate of purchase or the perfected tax deed for the PIN to said third party for development. The Village will retain legal counsel to obtain the tax deed and bear all legal and other costs associated with acquisition of the parcel. The Village agrees to submit to the Cook County Department of Economic Development, on a form provided by that department, No Cash Bid Reports on the status of the parcel for five years or until development is complete, whichever occurs last, as required by the Cook County No Cash Bid Ordinance.
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