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File #: 17-2673    Version: 1 Name: Glenwood 4 - 3 PINs 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, 32-03-318-002-0000; 009, 32-03-318-003-0000; 009, 32-03-318-004-0000. 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 parcels of property identified. In the event these parcels are not eligible for the No Cash Bid Program, the Village is alternatively requesting that an Over-The-Counter tax certificate be issued and assigned to the Village of Glenwood. This request package is for the three (3) adjacent PINs listed above. The requested PINs are contiguous parcels that contain a vacant dilapidated abandoned commercial site that was previously occupied by a restaurant that has been closed for three (3) years. At the time the property was abandoned, the ...
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, 32-03-318-002-0000; 009, 32-03-318-003-0000; 009, 32-03-318-004-0000.

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 parcels of property identified. In the event these parcels are not eligible for the No Cash Bid Program, the Village is alternatively requesting that an Over-The-Counter tax certificate be issued and assigned to the Village of Glenwood. This request package is for the three (3) adjacent PINs listed above. The requested PINs are contiguous parcels that contain a vacant dilapidated abandoned commercial site that was previously occupied by a restaurant that has been closed for three (3) years. At the time the property was abandoned, the Village attempted to work with the business occupying the parcels to see if it could utilize available TIF incentives to improve the structure so that the restaurant can continue to operate. Ultimately, the Village concluded that the costs of rehabilitating this structure so that it could continue to be useable as a restaurant was far more than the value of the entire site. The structure on this property has continued to deteriorate and the Village believes that it is now in a dangerous condition. It is the Village of Glenwood's desire to obtain title to this property so that it can demolish the hazardous structure located on this property 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. This parcel is in the Village of Glenwood's Main Street Tax Increment Financing District. Accordingly, TIF incentives as allowed by the Tax Increment Allocation Redevelopment Act wo...

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