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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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