Board of Commissioners of Cook County - File #: 13-1393

• File #: 13-1393
• Version: 3
• Name: 2XL Corporation or Assignee Class 6b
• Type: Resolution
• Status: Approved
• File created: 8/22/2013
• In control: Finance Subcommittee on Real Estate and Business and Economic Development (Inactive. There is now a Business and Economic Developement Committee and real estate items in the Asset Managment Committee)
• On agenda: 9/11/2013
• Final action: 10/2/2013
• Title: Transmitting a Communication, dated August 23, 2012 from HERMAN BREWER, Chief, Bureau of Economic Development respectfully submitting this Resolution regarding 2XL Corporation or Assignee's request for a Class 6b property tax incentive for special circumstances and substantial rehabilitation for an industrial building located at 7550 Industrial Drive, Forest Park, Illinois. The applicant intends to use the facility for the warehousing, manufacturing and distribution of wet wipes supplied to large facilities such as hotels, gyms and convention centers. 2XL Corporation or Assignee requests approval of the tax incentive based on the special circumstances that the property has been vacant for less than 24 months; has been purchased for value; and substantial rehabilitation will be completed under the Class 6b Ordinance. This Resolution is required so that the company can complete its application to the Assessor of Cook County. Submitting a Proposed Resolution sponsored by ...

Date	Ver.	Action By	Motion	Result
10/2/2013	3	Board of Commissioners	approve
10/1/2013	3	Finance Subcommittee on Real Estate and Business and Economic Development (Inactive. There is now a Business and Economic Developement Committee and real estate items in the Asset Managment Committee)	recommend for approval	Pass
9/11/2013	2	Board of Commissioners	refer	Pass

title
Transmitting a Communication, dated August 23, 2012 from

HERMAN BREWER, Chief, Bureau of Economic Development

respectfully submitting this Resolution regarding 2XL Corporation or Assignee's request for a Class 6b property tax incentive for special circumstances and substantial rehabilitation for an industrial building located at 7550 Industrial Drive, Forest Park, Illinois. The applicant intends to use the facility for the warehousing, manufacturing and distribution of wet wipes supplied to large facilities such as hotels, gyms and convention centers.

2XL Corporation or Assignee requests approval of the tax incentive based on the special circumstances that the property has been vacant for less than 24 months; has been purchased for value; and substantial rehabilitation will be completed under the Class 6b Ordinance. This Resolution is required so that the company can complete its application to the Assessor of Cook County.

Submitting a Proposed Resolution sponsored by

TONI PRECKWINKLE, President and JEFFREY R. TOBOLSKI, County Commissioner

PROPOSED RESOLUTION

WHEREAS, the Cook County Board of Commissioners has adopted a Real Property Assessment Classification 6b that provides an applicant a reduction in the assessment level for an industrial facility; and

WHEREAS, the County Board of Commissioners has received and reviewed an application from 2XL Corporation or Assignee and Resolution No. R-74-12 from the Village of Forest Park for an abandoned industrial facility located at 7550 Industrial Drive, Forest Park, Cook County, Illinois, County Board District #16, Property Index Number: 15-24-404-016-0000; and

WHEREAS, Cook County has defined abandoned property as buildings and other structures that, after having been vacant and unused for at least 24 months, are purchased for value by a purchaser in whom the seller has no direct financial interest; and

WHEREAS, industrial real estate is normally assessed at 25% of its market val...