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File #: 18-5719    Version: 1 Name: 8300 WOLF ROAD LLC 7C COMMERCIAL URBAN RELIEF ELIGIBILITY ("CURE") RENEWAL PROPERTY TAX INCENTIVE REQUEST
Type: Resolution Status: Approved
File created: 8/31/2018 In control: Business and Economic Development Committee
On agenda: 9/12/2018 Final action: 9/26/2018
Title: PROPOSED RESOLUTION 8300 WOLF ROAD LLC 7C COMMERCIAL URBAN RELIEF ELIGIBILITY ("CURE") RENEWAL PROPERTY TAX INCENTIVE REQUEST WHEREAS, the Cook County Bureau of Economic Development received and reviewed a Real Property Assessment Classification 7c renewal application containing the following information: Applicant: 8300 Wolf Road LLC Address: 8300 Wolf Road, Willow Springs, Illinois Municipality or Unincorporated Township: Village of Willow Springs Cook County District: 17th Permanent Index Number: 18-31-203-015-0000; 18-31-203-016-0000; 18-31-203-017-0000; 18-31-203-023-0000; 18-31-203-026-0000; 18-31-203-036-0000 Municipal Resolution Number: Village of Willow Springs, Resolution No. 2017-R-15 Number of jobs created by this project: 11 Full-time jobs; 36 Part-time jobs Use of property: Commercial use; The applicant after receiving the initial incentive has substantially rehabilitated the subject property d/b/a Score Athletic Academy, a sports facility consisting ...
Sponsors: TONI PRECKWINKLE (President), SEAN M. MORRISON
title
PROPOSED RESOLUTION

8300 WOLF ROAD LLC 7C COMMERCIAL URBAN RELIEF ELIGIBILITY ("CURE") RENEWAL PROPERTY TAX INCENTIVE REQUEST

WHEREAS, the Cook County Bureau of Economic Development received and reviewed a Real Property Assessment Classification 7c renewal application containing the following information:

Applicant: 8300 Wolf Road LLC

Address: 8300 Wolf Road, Willow Springs, Illinois

Municipality or Unincorporated Township: Village of Willow Springs

Cook County District: 17th

Permanent Index Number: 18-31-203-015-0000; 18-31-203-016-0000; 18-31-203-017-0000; 18-31-203-023-0000; 18-31-203-026-0000; 18-31-203-036-0000

Municipal Resolution Number: Village of Willow Springs, Resolution No. 2017-R-15

Number of jobs created by this project: 11 Full-time jobs; 36 Part-time jobs

Use of property: Commercial use; The applicant after receiving the initial incentive has substantially rehabilitated the subject property d/b/a Score Athletic Academy, a sports facility consisting of a fitness facility, that includes a basketball court, a volley ball court, exercise room, weight room and locker rooms as well as a restaurant.

WHEREAS, the Cook County Board of Commissioners has adopted a Real Property Assessment Classification 7c or Commercial Urban Relief Eligibility ("CURE") that provides an applicant a reduction in the assessment level for newly constructed or substantially rehabilitated or abandoned commercial property; and

WHEREAS, the Cook County Classification System for a Class 7c (CURE) Assessment defines abandoned property as " property where the buildings and other structures, or portions thereof, have been vacant and unused for more than 12 continuous months and as established by rule of the Assessor.; and

WHEREAS, Class 7c incentives that are granted are renewable and are limited to one renewal that requires the validation of the County Board. The applicant may apply for a renewal on or after the third year of the Incentive, but before the...

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