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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 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 to any developer, organization or other private party. The Village also has not entered into any negotiations with any developer, organization, or other entity pertaining to this property. The Village’s is not acting on behalf of any third party requestor.
In the event this application is approved, the Village has by resolution authorized me to proceed to obtain the tax deed. It will be the Village’s responsibility to bear all legal and other costs that are necessary for its acquisition of the property through the tax deed process. The Village understands and agrees that it will need to comply with the reporting requirements of the County’s No Cash Bid Ordinance. This will require the Village to submit No Cash Bid Reports on the status of the parcel for the later of either five (5) years or the completion of the development.
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