File #: 23-4561    Version: 1 Name: TOK HOTEL LLC or it’s Assignee
Type: Resolution (Class 8) No Purchase for Value Status: Approved
File created: 8/23/2023 In control: Business and Economic Development Committee
On agenda: 9/21/2023 Final action: 10/19/2023
Title: PROPOSED RESOLUTION TOK HOTEL LLC or it's Assignee 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: TOK HOTEL LLC or it's Assignee Address: 5200 Lake Superior Drive Matteson, Illinois Municipality or Unincorporated Township: Name of Municipality or Unincorporated Township Cook County District: 6th District Permanent Index Number: 31-21-203-001-0000 Municipal Resolution Number: Village of Matteson, Resolution No. 1320-0623 Number of month property vacant/abandoned: 16 months vacant Special circumstances justification requested: Yes Proposed use of property: Commercial use - Hotel space 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 assessm...
Sponsors: TONI PRECKWINKLE (President), DONNA MILLER
title
PROPOSED RESOLUTION

TOK HOTEL LLC or it's Assignee 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: TOK HOTEL LLC or it's Assignee

Address: 5200 Lake Superior Drive Matteson, Illinois

Municipality or Unincorporated Township: Name of Municipality or Unincorporated Township

Cook County District: 6th District

Permanent Index Number: 31-21-203-001-0000

Municipal Resolution Number: Village of Matteson, Resolution No. 1320-0623

Number of month property vacant/abandoned: 16 months vacant

Special circumstances justification requested: Yes

Proposed use of property: Commercial use - Hotel space

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 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 is abandoned for purpose of Class 8; and

WHEREAS, in the case of abandonment of over 24 months and no purchase for value by a disinterested buyer, the County may determine that special circumstances justify finding the property as being deemed abandoned; and

WHEREAS, Class 8 requires a resolution by the County Board validating the property as abandoned for the purpose of Class 8; an...

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