Share to Facebook Share to Twitter Bookmark and Share
File #: 16-0456    Version: 1 Name: WAL-MART STORES INC. CLASS 8 PROPERTY TAX INCENTIVE REQUEST
Type: Resolution (Class 8) No Purchase for Value TEERM Status: Approved
File created: 12/2/2015 In control: Business and Economic Development Committee
On agenda: 2/10/2016 Final action: 3/2/2016
Title: 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: comm...
Sponsors: TONI PRECKWINKLE (President), JOAN PATRICIA MURPHY
title
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...

Click here for full text