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PROPOSED RESOLUTION
HSG-KRE OAK LAWN PROPERTY OWNER, 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: HSG-KRE Oak Lawn Property Owner, LLC
Address: 4101 West 95th Street, Oak Lawn, Illinois 60453
Municipality or Unincorporated Township: Worth
Cook County District: 11
Permanent Index Number: 24-10-204-008-0000
Municipal Resolution Number: Village of Oak Lawn Resolution No. 18-23-75
Number of month property vacant/abandoned: 15 months vacant
Special circumstances justification requested: Yes
Estimated Number of jobs created by this project: 253-273 full-time jobs
Estimated Number of jobs retained at this location: N/A
Estimated Number of employees in Cook County: N/A
Estimated Number of construction jobs: 155-170 construction jobs
Proposed use of property: Commercial use - retail shopping mall
Living Wage Ordinance Compliance Affidavit Provided: N/A
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 less than 24 months and purchase for value, with new construction and substantial rehabilitatio...
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