title
PROPOSED RESOLUTION
AMB Partners II Local, L.P.6B PROPERTY TAX INCENTIVE REQUEST
WHEREAS, the Cook County Bureau of Economic Development received and reviewed a Real Property Assessment Classification 6b application containing the following information:
Applicant: AMB Partners II Local, L.P.
Address: 825 Arthur Avenue, Elk Grove Village, Illinois
Municipality or Unincorporated Township: Elk Grove Township
Cook County District: 15
Permanent Index Number: 08-34-302-035-0000
Municipal Resolution Number: Village of Elk Grove, Resolution No.44-20
Number of month property vacant/abandoned: 18 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 - warehousing, manufacturing, and/or distribution
Living Wage Ordinance Compliance Affidavit Provided: Yes or No
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 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 6b TEERM (TEMPORARY EMERGENY ECONOMIC RECOVERY MODIFICATION; and
WHEREAS, in the case of abandonment according to the TEERM definition, abandonment is defined as a facility being vaca...
Click here for full text