Share to Facebook Share to Twitter Bookmark and Share
File #: 17-6086    Version: 1 Name: LaMASTUS DEVELOPMENT CO. INC. CLASS 8 PROPERTY TAX INCENTIVE REQUEST
Type: Resolution (Class 8) No Purchase for Value TEERM Status: Approved
File created: 10/31/2017 In control: Business and Economic Development Committee
On agenda: 11/15/2017 Final action: 12/13/2017
Title: PROPOSED RESOLUTION LaMASTUS DEVELOPMENT CO. 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: LaMastus Development Co. Inc. Address: 11 N. Steger Road & 13-15 W. Steger Road, Steger, Illinois Municipality or Unincorporated Township: Village of Steger Cook County District: 6 Permanent Index Number: 32-32-429-025-0000 and 32-32-429-015-0000 Municipal Resolution Number: Village of Steger, Ordinance No. 1146 Number of month property vacant/abandoned: Number of months vacant over 24 months Special circumstances justification requested: Yes Estimated Number of jobs created by this project: Four (4) full-time jobs, 10 part-time jobs Estimated Number of jobs retained at this location: None Estimated Number of employees in Cook County: N/A Estimated Number of construction jobs: 20 constructi...
Sponsors: TONI PRECKWINKLE (President), EDWARD M. MOODY
title
PROPOSED RESOLUTION

LaMASTUS DEVELOPMENT CO. 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: LaMastus Development Co. Inc.

Address: 11 N. Steger Road & 13-15 W. Steger Road, Steger, Illinois

Municipality or Unincorporated Township: Village of Steger

Cook County District: 6

Permanent Index Number: 32-32-429-025-0000 and 32-32-429-015-0000

Municipal Resolution Number: Village of Steger, Ordinance No. 1146

Number of month property vacant/abandoned: Number of months vacant over 24 months

Special circumstances justification requested: Yes

Estimated Number of jobs created by this project: Four (4) full-time jobs, 10 part-time jobs

Estimated Number of jobs retained at this location: None

Estimated Number of employees in Cook County: N/A

Estimated Number of construction jobs: 20 construction jobs

Proposed use of property: Commercial use - Restaurant

Living Wage Ordinance Compliance Affidavit Provided: No, commercial use

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 industrial 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 more than 24 continuous months, there has been no purchased for value by a purchaser and the property is in need of substantial rehabilitation; 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 over 24 m...

Click here for full text