title
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:
159, 15-08-417-001-0000; 159, 15-08-417-002-0000; 159, 15-08-417-003-0000
Summary: This Request Package contains three (3) PINs. The Village intends to use the vacant land as a water retention area as part of its roadway realignment and resurfacing project, which use will greatly benefit the Village's commercial district by reducing flooding on the roadway adjacent to the parcels and in the surrounding areas and will comply with current Illinois Department of Transportation roadway standards.
The Village will file for tax exempt status upon acquisition of the PINs because it will retain the PINs for municipal use. The Village has not received a request from a third party by which the Village would convey the certificate(s) of purchase or the perfected tax deed(s) for the PINs to said third party for development. The Village will retain legal counsel to obtain the tax deed(s) and bear all legal and other costs associated with acquisition of the parcels. 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 each parcel for five years or until development is complete, whichever occurs last, as required by the Cook County No Cash Bid Ordinance.
end