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File #: 16-4915    Version: 1 Name: 7555 N CALDWELL LLC 6B PROPERTY TAX INCENTIVE REQUEST
Type: Resolution (Class 6B) No Purchase for Value TEERM Status: Approved
File created: 8/23/2016 In control: Business and Economic Development Committee
On agenda: 9/14/2016 Final action: 10/26/2016
Title: PROPOSED RESOLUTION 7555 N CALDWELL LLC 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: 7555 N Caldwell LLC Address: 7555 N Caldwell Avenue, Niles, Illinois 60714 Municipality or Unincorporated Township: Niles Cook County District: 13 Permanent Index Number: (2) PINs: 10-30-401-007-0000; 10-30-401-013-0000 Municipal Resolution Number: 2016-39R Number of month property vacant/abandoned: 17 months at the time of application to BED 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: 5 full-time, 0 part-time Estimated Number of jobs retained at this location: 74 full-time, 0 part-t...
Sponsors: TONI PRECKWINKLE (President), LARRY SUFFREDIN
title
PROPOSED RESOLUTION

7555 N CALDWELL LLC 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: 7555 N Caldwell LLC

Address: 7555 N Caldwell Avenue, Niles, Illinois 60714

Municipality or Unincorporated Township: Niles

Cook County District: 13

Permanent Index Number: (2) PINs: 10-30-401-007-0000; 10-30-401-013-0000

Municipal Resolution Number: 2016-39R

Number of month property vacant/abandoned: 17 months at the time of application to BED

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: 5 full-time, 0 part-time

Estimated Number of jobs retained at this location: 74 full-time, 0 part-time

Estimated Number of employees in Cook County: 74 full-time, 0 part-time

Estimated Number of construction jobs: 20

Proposed use of property: Industrial-Manufacturing of medical supplies

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/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 circumstances may exist...

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