File #: 18-3171    Version: 1 Name: KTR Illinois, LLC D/B/A PROLOGIS L.P. 6B PROPERTY TAX INCENTIVE REQUEST
Type: Resolution (Class 6B) No Purchase for Value TEERM Status: Approved
File created: 4/9/2018 In control: Business and Economic Development Committee
On agenda: 4/25/2018 Final action: 5/16/2018
Title: PROPOSED RESOLUTION KTR ILLINOIS, LLC D/B/A PROLOGIS L.P. 6B PROPERTY TAX INCENTIVE REQUEST WHEREAS, the Cook County Bureau of Economic Development received and reviewed a Real Property Assessment Classification 6b application containing the following information: Applicant: KTR Illinois, LLC d/b/a Prologis L.P. Address: 4136 United Parkway, Schiller Park, Illinois Municipality or Unincorporated Township: Village of Schiller Park Cook County District: 17 Permanent Index Number: 12-17-401-043-0000 and 12-17-401-051-0000 Municipal Resolution Number: Resolution Number 28-17 approved November 2, 2017 Number of month property vacant/abandoned: Number of months vacant 17 Special circumstances justification requested: Yes TEERM (TEMPORARY EMERGENCY ECONOMIC RECOVERY MODIFICATION (Vacant for more than 12 months but less than 24 months - No Purchase for Value) Justification: Yes Estimated Number of jobs created by this project: 10 full-time, 10 part-time Estimated Num...
Sponsors: TONI PRECKWINKLE (President), SEAN M. MORRISON
title
PROPOSED RESOLUTION

KTR ILLINOIS, LLC D/B/A PROLOGIS L.P. 6B PROPERTY TAX INCENTIVE REQUEST

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

Applicant: KTR Illinois, LLC d/b/a Prologis L.P.

Address: 4136 United Parkway, Schiller Park, Illinois

Municipality or Unincorporated Township: Village of Schiller Park

Cook County District: 17

Permanent Index Number: 12-17-401-043-0000 and 12-17-401-051-0000

Municipal Resolution Number: Resolution Number 28-17 approved November 2, 2017

Number of month property vacant/abandoned: Number of months vacant 17

Special circumstances justification requested: Yes

TEERM (TEMPORARY EMERGENCY ECONOMIC RECOVERY MODIFICATION (Vacant for more than 12 months but less than 24 months - No Purchase for Value) Justification: Yes

Estimated Number of jobs created by this project: 10 full-time, 10 part-time

Estimated Number of jobs retained at this location: 81 full-time, 28 part-time

Estimated Number of employees in Cook County: Same as above

Estimated Number of construction jobs: 40 construction jobs

Proposed use of property: Warehousing and distribution along with lite assembling

Living Wage Ordinance Compliance Affidavit Provided: Yes

WHEREAS, the Cook County Board of Commissioners has adopted a Real Property Assessment Classification 6b that provides an applicant a reduction in the assessment level for an abandoned industrial/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 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...

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