File #: 16-5930    Version: 1 Name: Munich Properties, LLC or Its Assignee
Type: Resolution Status: Approved
File created: 10/12/2016 In control: Business and Economic Development Committee
On agenda: 10/26/2016 Final action: 11/16/2016
Title: PROPOSED RESOLUTION MUNICH PROPERTIES, LLC OR ITS ASSIGNEE 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: Munich Properties, LLC or Its Assignee Address: 16600 Dixie Highway, Markham, Illinois Municipality or Unincorporated Township: City of Markham Cook County District: 5th Permanent Index Number: 29-19-309-011-0000 and 29-19-309-012-0000 Municipal Resolution Number: City of Markham Resolution Number16-02-2143 Number of month property vacant/abandoned: Six (6) months vacant Special circumstances justification requested: Yes Estimated Number of jobs created by this project: 34 full-time jobs Estimated Number of jobs retained at this location: 40 full-time, two (2) part-time Estimated Number of employees in Cook County: not applicable Estimated Number of construction jobs: Five (5) con...
Sponsors: TONI PRECKWINKLE (President), DEBORAH SIMS
title
PROPOSED RESOLUTION

MUNICH PROPERTIES, LLC OR ITS ASSIGNEE 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: Munich Properties, LLC or Its Assignee

Address: 16600 Dixie Highway, Markham, Illinois

Municipality or Unincorporated Township: City of Markham

Cook County District: 5th

Permanent Index Number: 29-19-309-011-0000 and 29-19-309-012-0000

Municipal Resolution Number: City of Markham Resolution Number16-02-2143

Number of month property vacant/abandoned: Six (6) months vacant

Special circumstances justification requested: Yes

Estimated Number of jobs created by this project: 34 full-time jobs

Estimated Number of jobs retained at this location: 40 full-time, two (2) part-time

Estimated Number of employees in Cook County: not applicable

Estimated Number of construction jobs: Five (5) construction jobs

Proposed use of property: What will this property be used for logistic warehousing and distribution

Living Wage Ordinance Compliance Affidavit Provided: Yes

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...

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