title
PROPOSED NO CASH BID REQUEST
Requestor: John A. Ostenburg, Mayor, Village of Park Forest
Request: Approval of No Cash Bid Request
Location: Village of Park Forest
Volume and Property Index Number:
180, 31-35-202-016-0000
Summary: The purpose of this letter is to advise you of the Village of Park Forest's desire to participate in the 2015 Cook County No-Cash Bid Program Scavenger Sale. The Village is interested in acquiring a partially occupied strip center within its boundaries that have been delinquent in real estate taxes for two or more years, pursuant to 35 ILCS 200/21-90. Please accept this Request Package for one (1) PIN listed herein, which is located within the Village of Park Forest. The Village intends to work with the South Suburban Land Bank to bring the property back up to code and to return this community gateway property into a vibrant commercial location and to return the properties to the property tax rolls to benefit the taxing bodies and to add to the quality of life in the South Suburbs. The plans are consistent with the Village’s adopted Strategic Plan for Land Use and Development.
The Village intends to file for tax exempt status at the appropriate time and will maintain the tax exempt status until the tax deeds are conveyed to a developer. The Village of Park Forest intends to work with the South Suburban Land Bank, a third party requester in this effort to return the property back to the tax rolls. The Village of Park Forest will retain legal counsel to obtain the tax deeds and bear all legal and other costs associated with acquisition of the parcels. The Village of Park Forest agrees to submit to Cook County Bureau of Economic Development, No Cash Bid Reports on the status of each parcel for five years or until development is complete, whichever occurs last, as required by the Cook County No Cash Bid Ordinance.
end