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PROPOSED RESOLUTION
B & Z Heating and Air Inc. 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: B & Z Heating and Air Inc.
Address: 15327 70th Court, Unit 1007, Oak Forest, Illinois
Municipality or Unincorporated Township: Village of Oak Forest
Cook County District: 6th District
Permanent Index Number: 28-18-100-050-1007
Municipal Resolution Number: City of Oak Forest Resolution No. 2020-09-0378R
Number of month property vacant/abandoned: 15 months vacant
Special circumstances justification requested: Yes
TEERM (TEMPORARY EMERGENCY ECONOMIC RECOVERY MODIFICATION (Vacant for more than 12 months but less than 24 months - No Purchase for Value) Justification: Yes
Proposed use of property: Industrial use- storage and distribution
Living Wage Ordinance Compliance Affidavit Provided: Yes
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/commercial 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 as abandoned for purpose of the Class 8 TEERM (TEMPORARY EMERGENCY ECONOMIC RECOVERY MODIFICATION; and
WHEREAS, in the case of abandonment according to the TEERM definition, abandonment is defined as a facility being vacant o...
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