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PROPOSED RESOLUTION
WAL-MART STORES INC. 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: Wal-Mart Stores Inc.
Address: 17550 Halsted Street, Homewood, Illinois
Municipality or Unincorporated Township: Homewood
Cook County District: 6
Permanent Index Number: 29-32-200-052-0000
Municipal Resolution Number: Resolution Number R-2234
Number of month property vacant/abandoned: Number of months vacant 24
Special circumstances justification requested: Yes
Estimated Number of jobs created by this project: 120 full-time, 150 part-time
Estimated Number of jobs retained at this location: None
Estimated Number of employees in Cook County: 5,446 full-time, 5,195 part-time
Estimated Number of construction jobs: 250 construction jobs
Proposed use of property: commercial retail
Living Wage Ordinance Compliance Affidavit Provided: No not applicable
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 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 is abandoned for purpose of Class 8; and
WHEREAS, in the case of abandonment of over 24 months and no purchase for value by a di...
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