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File #: 16-2513    Version: 1 Name: CAPANNARI’S INC. 6B PROPERTY TAX INCENTIVE REQUEST
Type: Resolution (Class 6B) Purchase for Value Status: Approved
File created: 3/30/2016 In control: Business and Economic Development Committee
On agenda: 4/13/2016 Final action: 5/11/2016
Title: PROPOSED RESOLUTION CAPANNARI'S INC. 6B PROPERTY TAX INCENTIVE REQUEST WHEREAS, the Cook County Bureau of Economic Development received and reviewed a Real Property Assessment Classification 6b application containing the following information: Applicant: Capannari's Inc. Address: 701 North Wheeling Road, Mount Prospect, Illinois Municipality or Unincorporated Township: Mount Prospect Cook County District: 9 Permanent Index Number: 03-35-200-071-1001 Municipal Resolution Number: Village of Mount Prospect Resolution Number 42-15 Number of month property vacant/abandoned: 21 months vacant Special circumstances justification requested: Yes Estimated Number of jobs created by this project: Three (3) full-time, 10 part-time Estimated Number of jobs retained at this location: # full-time, # part-time Estimated Number of employees in Cook County: Two (2) full-time, 35 part-time Estimated Number of construction jobs: 10 construction jo...
Sponsors: TONI PRECKWINKLE (President), PETER N. SILVESTRI
title
PROPOSED RESOLUTION

CAPANNARI'S INC. 6B PROPERTY TAX INCENTIVE REQUEST

WHEREAS, the Cook County Bureau of Economic Development received and reviewed a Real Property Assessment Classification 6b application containing the following information:

Applicant: Capannari's Inc.

Address: 701 North Wheeling Road, Mount Prospect, Illinois

Municipality or Unincorporated Township: Mount Prospect

Cook County District: 9

Permanent Index Number: 03-35-200-071-1001

Municipal Resolution Number: Village of Mount Prospect Resolution Number 42-15

Number of month property vacant/abandoned: 21 months vacant

Special circumstances justification requested: Yes

Estimated Number of jobs created by this project: Three (3) full-time, 10 part-time

Estimated Number of jobs retained at this location: # full-time, # part-time

Estimated Number of employees in Cook County: Two (2) full-time, 35 part-time

Estimated Number of construction jobs: 10 construction jobs

Proposed use of property: This property will be used for industrial purpose light production, warehouse and distribution

Living Wage Ordinance Compliance Affidavit Provided: Yes

WHEREAS, the Cook County Board of Commissioners has adopted a Real Property Assessment Classification 6b 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 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 6b; ...

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