Share to Facebook Share to Twitter Bookmark and Share
File #: 17-2671    Version: 1 Name: Glenwood 2 - 1 PIN 2017 NCB Round 1
Type: No Cash Bid Request Status: Approved
File created: 4/5/2017 In control: Finance Subcommittee on Tax Delinquency
On agenda: 4/12/2017 Final action: 6/7/2017
Title: PROPOSED NO CASH BID REQUEST Requestor: John F. Donahue, Village Attorney, Village of Glenwood Request: Approval of No Cash Bid Request Location: Village of Glenwood Volume and Property Index Number: 009, 32-03-400-023-0000. Summary: Please accept this letter as the Village of Glenwood's application to participate in the Cook County No Cash Bid Program for the 2017 County Scavenger Sale for the parcel of property identified. This request package is for the one (1) PINs listed above. This PIN is an unoccupied lot that has an abandoned greenhouse structure that was used by an abandoned business storefront located on an adjacent PIN. The business that previously occupied this PIN and the adjoining PIN (32-03-400-022-0000) went out of business on December 22, 2015. It is the Village of Glenwood's desire to obtain title to this property through the County's No Cash Bid Program so that the property can be redeveloped by a private entity, returned to the property tax rolls and cre...
Indexes: DEBORAH SIMS, County Commissioner
title
PROPOSED NO CASH BID REQUEST

Requestor: John F. Donahue, Village Attorney, Village of Glenwood

Request: Approval of No Cash Bid Request

Location: Village of Glenwood

Volume and Property Index Number:
009, 32-03-400-023-0000.

Summary: Please accept this letter as the Village of Glenwood's application to participate in the Cook County No Cash Bid Program for the 2017 County Scavenger Sale for the parcel of property identified. This request package is for the one (1) PINs listed above. This PIN is an unoccupied lot that has an abandoned greenhouse structure that was used by an abandoned business storefront located on an adjacent PIN. The business that previously occupied this PIN and the adjoining PIN (32-03-400-022-0000) went out of business on December 22, 2015. It is the Village of Glenwood's desire to obtain title to this property through the County's No Cash Bid Program so that the property can be redeveloped by a private entity, returned to the property tax rolls and create additional employment opportunities within the Village. The rear portion of the requested PIN is also adjacent to other property the Village previously acquired using the No Cash Bid process such that these properties could be marketing together to promote future redevelopment opportunities. This parcel is also in the Village of Glenwood's Main Street Tax Increment Financing District. Accordingly, TIF incentives as allowed by the Tax Increment Allocation Redevelopment Act would be available to incentivize the acquisition and redevelopment of this parcel by a private entity.

In the event this application is approved, it is the Village's intent to file the necessary documents that are required to obtain a tax-exempt status for the property. The Village will continue to maintain this tax exempt status for the property as long as the Village continues to own it. Please be advised that the Village does not have any agreement to convey the perfected tax deed for the property t...

Click here for full text