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File #: 17-3061    Version: 1 Name: Mercury Products Corporation
Type: Resolution Status: Approved
File created: 4/25/2017 In control: Business and Economic Development Committee
On agenda: 5/10/2017 Final action: 6/7/2017
Title: PROPOSED RESOLUTION MERCURY PRODUCTS CORPORATION CLASS 6B SUSTAINABLE EMERGENCY RELIEF (SER) WHEREAS, the Cook County Bureau of Economic Development received and reviewed a Real Property Assessment Classification 6b Sustainable Emergency Relief (SER) application containing the following information: Applicant: Mercury Products Corporation Address: 1201 S. Mercury Drive, Schaumburg, Illinois Length of time at current location: 22 years Length of time property under same ownership: 22 years Is there evidence supporting 10 years of the same ownership and/or occupancy (tenancy): Yes Age of the Property (Building): 50 years Municipality or Unincorporated Township: Schaumburg Cook County District: 15 Permanent Index Number(s): 07-32-105-032-0000 Municipal Resolution Number: Resolution No. R-16-079 Evidence of Economic Hardship: Yes Number of blighting factors associated with the property: Three (3) Has justification for the Class 6b SER program been provided?: ...
Sponsors: TONI PRECKWINKLE (President), TIMOTHY O. SCHNEIDER
title
PROPOSED RESOLUTION

MERCURY PRODUCTS CORPORATION CLASS 6B SUSTAINABLE EMERGENCY RELIEF (SER)

WHEREAS, the Cook County Bureau of Economic Development received and reviewed a Real Property Assessment Classification 6b Sustainable Emergency Relief (SER) application containing the following information:

Applicant: Mercury Products Corporation

Address: 1201 S. Mercury Drive, Schaumburg, Illinois

Length of time at current location: 22 years

Length of time property under same ownership: 22 years

Is there evidence supporting 10 years of the same ownership and/or occupancy (tenancy): Yes

Age of the Property (Building): 50 years

Municipality or Unincorporated Township: Schaumburg

Cook County District: 15

Permanent Index Number(s): 07-32-105-032-0000

Municipal Resolution Number: Resolution No. R-16-079

Evidence of Economic Hardship: Yes

Number of blighting factors associated with the property: Three (3)

Has justification for the Class 6b SER program been provided?: Yes

Estimated # of jobs created by this project: None

Estimated # of jobs retained at this location: 115 full-time jobs

Estimated # of employees in Cook County: Same as above

Estimated # of construction jobs: None

Proposed use of property: Industrial - Manufacturing: Manufacturing, warehousing and distribution of metal stamping and fabrication parts for the transportations industry.

Living Wage Ordinance Compliance Affidavit Provided: Yes

WHEREAS, the Cook County Board of Commissioners has adopted a Real Property Assessment Classification 6b Sustainable Emergency Relief (SER) that provides an applicant a reduction in the assessment level for a long-term existing industrial enterprise that meets the qualifications of the SER program ; and

WHEREAS, the Cook County Classification System for Assessment requires that an applicant under the Class 6b SER program provide evidence justifying their participation in the subject program; and

WHEREAS, Class 6b SER requires...

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