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File #: 18-5914    Version: 1 Name: POLICE 429 LLC 6B PROPERTY TAX INCENTIVE REQUEST
Type: Resolution (Class 6B) Purchase for Value Status: Approved
File created: 9/12/2018 In control: Business and Economic Development Committee
On agenda: 9/26/2018 Final action: 10/17/2018
Title: PROPOSED RESOLUTION POLICE 429 LLC 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: Police 429 LLC Address: 2220-22 South Foster Avenue, Wheeling, Illinois, 60090 Municipality or Unincorporated Township: Wheeling Cook County District: 14 Permanent Index Number: (1) PIN: 03-23-406-011-0000 Municipal Resolution Number: Village of Wheeling Resolution 18-069 Approved May 7, 2018 Number of month property vacant/abandoned: 5 months at time of application to CCBED Special circumstances justification requested: Yes Estimated Number of jobs created by this project: 2 full-time, 2 part-time Estimated Number of jobs retained at this location: 3 full-time, 2 part-time Estimated Number of employees in Cook County: 0 full-time, 0 part-time Estimated Number of construction jobs: N/A Proposed use of p...
Sponsors: TONI PRECKWINKLE (President), GREGG GOSLIN
title
PROPOSED RESOLUTION

POLICE 429 LLC 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: Police 429 LLC

Address: 2220-22 South Foster Avenue, Wheeling, Illinois, 60090

Municipality or Unincorporated Township: Wheeling

Cook County District: 14

Permanent Index Number: (1) PIN: 03-23-406-011-0000

Municipal Resolution Number: Village of Wheeling Resolution 18-069 Approved May 7, 2018

Number of month property vacant/abandoned: 5 months at time of application to CCBED

Special circumstances justification requested: Yes

Estimated Number of jobs created by this project: 2 full-time, 2 part-time

Estimated Number of jobs retained at this location: 3 full-time, 2 part-time

Estimated Number of employees in Cook County: 0 full-time, 0 part-time

Estimated Number of construction jobs: N/A

Proposed use of property: Industrial-warehousing

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 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 at least 24 continuous months, have been purchased for value by a purchaser in whom the seller has no direct financial interest; 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 6b; and

WHEREAS, in the case of abandonment of less than 24 months and purchase for value, by a purchaser...

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