File #: 14-6195    Version: 1 Name: FedEx Ground Packaging System, Inc.
Type: Resolution Status: Approved
File created: 10/24/2014 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: 11/19/2014 Final action: 12/17/2014
Title: PROPOSED RESOLUTION FEDEX GROUND PACKAGING SYSTEM, INC. 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: FedEx Ground Packaging System, Inc. Address: 1234 Peterson Drive, Wheeling, Illinois Municipality or Unincorporated Township: Village of Wheeling, Illinois Cook County District: 14 Permanent Index Number: 03-14-405-030-0000; 03-14-405-031-0000; 03-14-405-032-0000; 03-14-405-033-0000; 03-14-405-034-0000; 03-14-405-035-0000; 03-14-405-036-0000; 03-14-405-037-0000; 03-14-200-027-0000 Municipal Resolution Number: 14-88 Number of month property vacant/abandoned: 14 months Special circumstances justification requested: Yes Estimated Number of jobs created by this project: 11 full-time, 39 part-time Estimated Number of jobs retained at this location: nine (9) full-time,...
Sponsors: TONI PRECKWINKLE (President), GREGG GOSLIN
title
PROPOSED RESOLUTION
 
FEDEX GROUND PACKAGING SYSTEM, INC. 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: FedEx Ground Packaging System, Inc.
 
Address: 1234 Peterson Drive, Wheeling, Illinois
 
Municipality or Unincorporated Township: Village of Wheeling, Illinois
 
Cook County District: 14  
 
Permanent Index Number: 03-14-405-030-0000; 03-14-405-031-0000;  03-14-405-032-0000; 03-14-405-033-0000; 03-14-405-034-0000; 03-14-405-035-0000; 03-14-405-036-0000; 03-14-405-037-0000; 03-14-200-027-0000  
 
Municipal Resolution Number: 14-88  
 
Number of month property vacant/abandoned: 14 months
 
Special circumstances justification requested: Yes  
 
Estimated Number of jobs created by this project:  11 full-time, 39 part-time
 
Estimated Number of jobs retained at this location:  nine (9) full-time, 22 part-time
 
Estimated Number of employees in Cook County:  1,770 full-time, 3,501 part-time
 
Estimated Number of construction jobs: 20 construction jobs
 
Proposed use of property:  Industrial use: logistics; freight and shipping services
 
Living Wage Ordinance Compliance Affidavit Provided: Yes
 
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 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 justify finding that the property is abandoned for purpose of Class 6b; and
 
WHEREAS,   in the case of abandonment of less than 24 months and purchase for value, by a purchaser in whom the seller has no direct financial interest, the County may determine that special circumstances justify finding the property is deemed abandoned; and
 
WHEREAS,   Class 6b requires the validation by the County Board of the shortened period of qualifying abandonment in cases where the facility has been abandoned for less than 24 consecutive months upon purchase for value; and
 
WHEREAS,   the municipality states the Class 6b is necessary for development to occur on this specific real estate. The municipal resolution cites the qualifications of this property to meet the definition of abandoned with special circumstances; and
 
WHEREAS,   industrial real estate is normally assessed at 25% of its market value, qualifying industrial real estate eligible for the Class 6b can receive a significant reduction in the level of assessment from the date that new construction or rehabilitation has been completed, or in the case of abandoned property from the date of substantial re-occupancy.   Properties receiving Class 6b will be assessed at 10% of the market value for 10 years, 15% for the 11th year and 20% in the 12th year; and  
 
NOW, THEREFORE, BE IT RESOLVED, by the President and Board of Commissioners of the County of Cook, that the President and Board of Commissioners validate the above-captioned property is deemed abandoned with special circumstances under the Class 6b; and
 
BE IT FURTHER RESOLVED, that the County Clerk is hereby authorized and directed to forward a certified copy of this resolution to the Office of the Cook County Assessor
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