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File #: 16-1385    Version: 1 Name: 5736 PROPERTY GROUP, LLC CLASS 8 PROPERTY TAX INCENTIVE REQUEST
Type: Resolution (Class 8) Purchase for Value Status: Approved
File created: 1/27/2016 In control: Business and Economic Development Committee
On agenda: 2/10/2016 Final action: 3/2/2016
Title: PROPOSED RESOLUTION 5736 PROPERTY GROUP, LLC 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: 5736 Property Group, LLC Address: 5736-5740 W. 159th Street Oak Forest, Illinois Municipality or Unincorporated Township: Oak Forest Cook County District: 6 Permanent Index Number: 28-17-416-002-0000 Municipal Resolution Number: City of Oak Forest Resolution No. 2015-08-0270R Number of month property vacant/abandoned: 23 months vacant Special circumstances justification requested: Yes Estimated Number of jobs created by this project: None Estimated Number of jobs retained at this location: eight (8) full-time, one (1) part-time Estimated Number of employees in Cook County: N/A Estimated Number of construction jobs: 12 construction jobs Proposed use of prope...
Sponsors: TONI PRECKWINKLE (President), JOAN PATRICIA MURPHY
title
PROPOSED RESOLUTION

5736 PROPERTY GROUP, LLC 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: 5736 Property Group, LLC

Address: 5736-5740 W. 159th Street Oak Forest, Illinois

Municipality or Unincorporated Township: Oak Forest

Cook County District: 6

Permanent Index Number: 28-17-416-002-0000

Municipal Resolution Number: City of Oak Forest Resolution No. 2015-08-0270R

Number of month property vacant/abandoned: 23 months vacant

Special circumstances justification requested: Yes

Estimated Number of jobs created by this project: None

Estimated Number of jobs retained at this location: eight (8) full-time, one (1) part-time

Estimated Number of employees in Cook County: N/A

Estimated Number of construction jobs: 12 construction jobs

Proposed use of property: Commercial use automotive repair and auto parts store.

Living Wage Ordinance Compliance Affidavit Provided: No

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 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 at least 24 continuous months, have been purchased for value by a purchaser in whom the seller has no direct financial interest; 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 less than 24 months and purchase f...

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