title
PROPOSED RESOLUTION
URGING THE GENERAL ASSEMBLY TO REINTRODUCE THE VACANCY FRAUD ACT
WHEREAS, throughout Cook County there are over 1,900 vacant properties registered; and
WHEREAS, vacant buildings represent a public nuisance that can result in public health and safety issues in our communities and place a financial strain on local government agencies; and
WHEREAS, a leading cause of high vacancies in communities are weak real estate markets, and today property values in Cook County are still lower than 2007 values; and
WHEREAS, in addition to a weak real estate market, in some instances landlords may purposefully allow buildings to remain vacant by not actively seeking tenants for their buildings in order to qualify for specific financial incentives; and
WHEREAS, when property tax exemptions and financial incentives are obtained fraudulently for vacant property, this halts economic development, contributes to further blight in these communities, and significantly reduces the tax base in taxing districts; and
WHEREAS, during the 100th General Assembly the Vacancy Fraud Act received bipartisan support; and
WHEREAS, the Vacancy Fraud Act allows for taxing bodies to file a vacancy fraud complaint with the county board of review, and if found to be fraudulently obtained, owners would be required to pay back what is owed plus penalties; and
WHEREAS, the Vacancy Fraud Act would discourage owners from allowing property to sit vacant and encourage owners to actively seek tenants, which would contribute to the growth of a community; and
NOW, THEREFORE BE IT FURTHER RESOLVED, that the Cook County Board of Commissioners urges the General Assembly to reintroduce and pass the Vacancy Fraud Act; and
BE IT FURTHER RESOLVED, that a copy of this resolution be shared with the General Assembly and the Governor of Illinois.
end