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PROPOSED RESOLUTION
HD HOSPITALITY 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: HD Hospitality Inc.
Address: 4375 Frontage Road, Oak Forest, Illinois
Municipality or Unincorporated Township: Village of Oak Forest
Cook County District: 5th
Permanent Index Number: 28-22-404-020-0000, 28-22-404-021-0000 & 28-22-404-022-0000
Municipal Resolution Number: Resolution Number 2016-09-0295R
Number of month property vacant/abandoned: Seven (7) days vacant
Special circumstances justification requested: Yes
Estimated Number of jobs created by this project: Eight (8) full-time jobs
Estimated Number of jobs retained at this location: 10 full-time jobs
Estimated Number of employees in Cook County: None
Estimated Number of construction jobs: two (2) to five (5) jobs
Proposed use of property: Commercial use 59-key hotel space
Living Wage Ordinance Compliance Affidavit Provided: No, not applicable
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 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 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 8; and
WHEREAS, in the case of abandonment of less than 24 months and purchase for value, by a pu...
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