Board of Commissioners of Cook County - File #: 18-1978

• File #: 18-1978
• Version: 1
• Name: AP Asset Management LLC, Bedford Park, Illinois
• Type: Resolution (Class 6B) SER
• Status: Approved
• File created: 1/25/2018
• In control: Business and Economic Development Committee
• On agenda: 2/7/2018
• Final action: 3/14/2018
• Title: PROPOSED RESOLUTION AP ASSET MANAGEMENT LLC 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: AP Asset Management LLC Address: 5570 W. 70th Place, Bedford Park, Illinois Length of time at current location: 25 years Length of time property under same ownership: 25 Years Is there evidence supporting 10 years of the same ownership and/or occupancy (tenancy): Yes Age of the Property (Building): 37 Years Municipality or Unincorporated Township: Bedford Park Cook County District: 11 Permanent Index Number(s): 19-21-301-018-0000 and 19-21-301-019-0000 Municipal Resolution Number: Village of Bedford Park, Resolution No. 17-026 approved August 10, 2017 Evidence of Economic Hardship: Yes Number of blighting factors associated with the property: Deterioration...
• Sponsors: TONI PRECKWINKLE (President), JOHN P. DALEY

Date	Ver.	Action By	Motion	Result
3/14/2018	1	Business and Economic Development Committee	recommend for approval	Pass
3/14/2018	1	Board of Commissioners	approve	Pass
2/7/2018	1	Board of Commissioners	refer	Pass

title
PROPOSED RESOLUTION

AP ASSET MANAGEMENT LLC 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: AP Asset Management LLC

Address: 5570 W. 70th Place, Bedford Park, Illinois

Length of time at current location: 25 years

Length of time property under same ownership: 25 Years

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

Age of the Property (Building): 37 Years

Municipality or Unincorporated Township: Bedford Park

Cook County District: 11

Permanent Index Number(s): 19-21-301-018-0000 and 19-21-301-019-0000

Municipal Resolution Number: Village of Bedford Park, Resolution No. 17-026 approved August 10, 2017

Evidence of Economic Hardship: Yes

Number of blighting factors associated with the property: Deterioration - The building's roof needs repair along with improvements to the exterior. Dilapidated - The concrete in Applicant's shipping and receiving departments, sidewalks, and parking lots has eroded. Obsolete - Applicant's machines and equipment are aging and require considerable maintenance and repair.

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: 45 full-time jobs

Estimated # of employees in Cook County: Same as above

Estimated # of construction jobs: None

Proposed use of property: Industrial - Manufacturing: Metal stamping and manufacturing company

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 enterpris...