File #: 15-4408    Version: 1 Name: KENSINGTON BUSINESS CENTER HOLDINGS 1 LLC 6B TEERM
Type: Resolution (Class 6B) No Purchase for Value TEERM Status: Approved
File created: 7/8/2015 In control: Business and Economic Development Committee
On agenda: 7/29/2015 Final action: 9/9/2015
Title: PROPOSED RESOLUTION KENSINGTON BUSINESS CENTER HOLDINGS-1 LLC 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: Kensington Business Center Holdings-1 LLC Address: 1050 Business Center Drive, Mount Prospect, Illinois, 60056 Municipality or Unincorporated Township: Mount Prospect Cook County District: 9 Permanent Index Number: 03-35-104-058-0000 Municipal Resolution Number: 22-15 Number of month property vacant/abandoned: 15 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: 100 full-time, 0 part-time Estimated Number of jobs retained at this location: 0 full-tim...
Sponsors: TONI PRECKWINKLE (President), PETER N. SILVESTRI
title
PROPOSED RESOLUTION

KENSINGTON BUSINESS CENTER HOLDINGS-1 LLC 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: Kensington Business Center Holdings-1 LLC

Address: 1050 Business Center Drive, Mount Prospect, Illinois, 60056

Municipality or Unincorporated Township: Mount Prospect

Cook County District: 9

Permanent Index Number: 03-35-104-058-0000

Municipal Resolution Number: 22-15

Number of month property vacant/abandoned: 15

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: 100 full-time, 0 part-time

Estimated Number of jobs retained at this location: 0 full-time, 0 part-time

Estimated Number of employees in Cook County: 0 full-time, 0 part-time

Estimated Number of construction jobs: 0 full-time, 0 part-time

Proposed use of property: Industrial-Manufacturing, warehousing and distribution of gaming equipment

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...

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