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PROPOSED RESOLUTION
PRECISION ZONE SERVICE COMPANY6B 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: Precision Zone Service Company
Address: 311 Elgidi Drive
Municipality or Unincorporated Township: Wheeling
Cook County District: 14
Permanent Index Number: 03-02-316-040-0000
Municipal Resolution Number: 14-167
Number of month property vacant/abandoned: 13
Special circumstances justification requested: Yes
TEERM (TEMPORARY EMERGENCY ECONOMIC RECOVERY MODIFICATION (Vacant for more than 12 months but less than 24 months - No Purchase for Value) Justification: Yes
Estimated Number of jobs created by this project: 20 full-time
Estimated Number of jobs retained at this location: four (4) full-time
Estimated Number of employees in Cook County: N/A
Estimated Number of construction jobs: five (5) - 10 construction jobs
Proposed use of property: Manufacturing
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/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 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 as abandoned for purpose of the Class 6b TEER...
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