File #: 13-1407    Version: Name: Real Property Classification 8 for property located at 548 East 162nd Street, South Holland
Type: Resolution Status: Approved
File created: 8/22/2013 In control: Finance Subcommittee on Real Estate and Business and Economic Development (Inactive. There is now a Business and Economic Developement Committee and real estate items in the Asset Managment Committee)
On agenda: 9/11/2013 Final action: 10/2/2013
Title: Transmitting a Communication, dated August 23, 2013 from HERMAN BREWER, Chief, Bureau of Economic Development respectfully submitting this Resolution regarding Brian J. Kamstra's request for a Class 8 property tax incentive for special circumstances and substantial rehabilitation for a commercial condominium unit located at 548 East 162nd Street, South Holland, Illinois. The applicant intends to purchase this unit and remodel the unit for use as a commercial retail store. Brian J. Kamstra requests approval of the tax incentive based on the special circumstances that the property has been vacant for less than 24 months; is being purchased for value; and substantial rehabilitation will be completed under the Class 8 Ordinance. The subject property's location in Thornton Township helps qualify its eligibility for Class 8 as it is in one of the five pre-determined communities automatically eligible for Class 8. This Resolution is required so that the company can complete its appli...
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Transmitting a Communication, dated August 23, 2013 from

HERMAN BREWER, Chief, Bureau of Economic Development

respectfully submitting this Resolution regarding Brian J. Kamstra's request for a Class 8 property tax incentive for special circumstances and substantial rehabilitation for a commercial condominium unit located at 548 East 162nd Street, South Holland, Illinois. The applicant intends to purchase this unit and remodel the unit for use as a commercial retail store.

Brian J. Kamstra requests approval of the tax incentive based on the special circumstances that the property has been vacant for less than 24 months; is being purchased for value; and substantial rehabilitation will be completed under the Class 8 Ordinance. The subject property's location in Thornton Township helps qualify its eligibility for Class 8 as it is in one of the five pre-determined communities automatically eligible for Class 8. This Resolution is required so that the company can complete its application to the Assessor of Cook County.

Submitting a Proposed Resolution sponsored by

TONI PRECKWINKLE, President and STANLEY MOORE, County Commissioner

PROPOSED RESOLUTION

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 a commercial facility; and

WHEREAS, the County Board of Commissioners has received and reviewed an application from Brian J. Kamstra and a Resolution from the Village of South Holland for an abandoned commercial facility located at 548 East 162nd Street, South Holland, Cook County, Illinois, County Board District #4, Property Index Number: 29-15-405-044-1010; and

WHEREAS, Cook County has defined abandoned property as buildings and other structures that, after having been vacant and unused for at least 24 months, are purchased for value by a purchaser in whom the seller has no direct financial interest; and
WHEREAS; comme...

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