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PROPOSED RESOLUTION
MVF STORAGE 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: MVF Storage
Address: 4325 Frontage Road, Oak Forest, Illinois
Municipality or Unincorporated Township: City of Oak Forest, Illinois
Cook County District: 6
Permanent Index Number: 28-22-404-019-0000
Municipal Resolution Number: 2014-08-0241R
Number of month property vacant/abandoned: 21 months vacant
Special circumstances justification requested: Yes
Estimated Number of jobs created by this project: two (2) full-time, one (1) part-time
Estimated Number of jobs retained at this location: None
Estimated Number of employees in Cook County: None
Estimated Number of construction jobs: 50
Proposed use of property: Industrial use: Self-served storage facility
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 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 purchaser in whom the seller has no direct financi...
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