File #: 15-6425    Version: 1 Name: DANIEL HODGES CLASS 8 PROPERTY TAX INCENTIVE REQUEST
Type: Resolution (Class 8) No Purchase for Value TEERM Status: Approved
File created: 11/3/2015 In control: Business and Economic Development Committee
On agenda: 11/18/2015 Final action: 12/16/2015
Title: PROPOSED RESOLUTION DANIEL HODGES 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: Daniel Hodges Address: 14150 S. Western Avenue, Posen, Illinois Municipality or Unincorporated Township: Bremen Cook County District: 5 Permanent Index Number: 28-01-416-018-0000 Municipal Resolution Number: Village of Posen Resolution Number 2014-4 Number of month property vacant/abandoned: 12 months vacant 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: eight (8) full-time jobs Estimated Number of jobs retained at this location: seven (7) full-time jobs Estimated ...
Sponsors: TONI PRECKWINKLE (President), DEBORAH SIMS
title
PROPOSED RESOLUTION

DANIEL HODGES 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: Daniel Hodges

Address: 14150 S. Western Avenue, Posen, Illinois

Municipality or Unincorporated Township: Bremen

Cook County District: 5

Permanent Index Number: 28-01-416-018-0000

Municipal Resolution Number: Village of Posen Resolution Number 2014-4

Number of month property vacant/abandoned: 12 months vacant

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: eight (8) full-time jobs

Estimated Number of jobs retained at this location: seven (7) full-time jobs

Estimated Number of employees in Cook County: n/a

Estimated Number of construction jobs: 10 construction jobs

Proposed use of property: The property will be used for metal fabricating

Living Wage Ordinance Compliance Affidavit Provided: Pending tenant occupancy

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 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 circ...

Click here for full text