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File #: 17-3075    Version: 1 Name: HD HOSPITALITY INC. CLASS 8 PROPERTY TAX INCENTIVE REQUEST
Type: Resolution Status: Approved
File created: 4/26/2017 In control: Business and Economic Development Committee
On agenda: 5/10/2017 Final action: 6/7/2017
Title: PROPOSED RESOLUTION HD HOSPITALITY INC. 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: HD Hospitality Inc. Address: 4375 Frontage Road, Oak Forest, Illinois Municipality or Unincorporated Township: Village of Oak Forest Cook County District: 5th Permanent Index Number: 28-22-404-020-0000, 28-22-404-021-0000 & 28-22-404-022-0000 Municipal Resolution Number: Resolution Number 2016-09-0295R Number of month property vacant/abandoned: Seven (7) days vacant Special circumstances justification requested: Yes Estimated Number of jobs created by this project: Eight (8) full-time jobs Estimated Number of jobs retained at this location: 10 full-time jobs Estimated Number of employees in Cook County: None Estimated Number of construction jobs: two (2) to five (5) jobs Proposed use of property:...
Sponsors: TONI PRECKWINKLE (President), DEBORAH SIMS
title
PROPOSED RESOLUTION

HD HOSPITALITY INC. 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: HD Hospitality Inc.

Address: 4375 Frontage Road, Oak Forest, Illinois

Municipality or Unincorporated Township: Village of Oak Forest

Cook County District: 5th

Permanent Index Number: 28-22-404-020-0000, 28-22-404-021-0000 & 28-22-404-022-0000

Municipal Resolution Number: Resolution Number 2016-09-0295R

Number of month property vacant/abandoned: Seven (7) days vacant

Special circumstances justification requested: Yes

Estimated Number of jobs created by this project: Eight (8) full-time jobs

Estimated Number of jobs retained at this location: 10 full-time jobs

Estimated Number of employees in Cook County: None

Estimated Number of construction jobs: two (2) to five (5) jobs

Proposed use of property: Commercial use 59-key hotel space

Living Wage Ordinance Compliance Affidavit Provided: No, not applicable

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 abandonment of less than 24 months and purchase for value, by a pu...

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