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File #: 19-1767    Version: 1 Name: 7415 ST. LOUIS LLC 6B PROPERTY TAX INCENTIVE REQUEST
Type: Resolution (Class 6B) Purchase for Value Status: Approved
File created: 2/11/2019 In control: Business and Economic Development Committee
On agenda: 2/21/2019 Final action: 3/21/2019
Title: PROPOSED RESOLUTION 7415 ST. LOUIS 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: 7415 St. Louis LLC Address: 10 Davis Drive, Bellwood, Illinois 60104 Municipality or Unincorporated Township: Village of Bellwood Cook County District: 1 Permanent Index Number: 15-08-101-061-0000 Municipal Resolution Number: Village of Bellwood, Resolution Number 18-61 Number of month property vacant/abandoned: 80% of the building has been vacant since 3/1/2014 the building was 100% vacant for 10 days prior to purchase Special circumstances justification requested: Yes Estimated Number of jobs created by this project: 15 full-time jobs and four (4) part-time jobs Estimated Number of jobs retained at this location: Not applicable Estimated Number of employees in Cook County: Same as above Estimated Number ...
Sponsors: TONI PRECKWINKLE (President), BRANDON JOHNSON
title
PROPOSED RESOLUTION

7415 ST. LOUIS 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: 7415 St. Louis LLC

Address: 10 Davis Drive, Bellwood, Illinois 60104

Municipality or Unincorporated Township: Village of Bellwood

Cook County District: 1

Permanent Index Number: 15-08-101-061-0000

Municipal Resolution Number: Village of Bellwood, Resolution Number 18-61

Number of month property vacant/abandoned: 80% of the building has been vacant since 3/1/2014 the building was 100% vacant for 10 days prior to purchase

Special circumstances justification requested: Yes

Estimated Number of jobs created by this project: 15 full-time jobs and four (4) part-time jobs

Estimated Number of jobs retained at this location: Not applicable

Estimated Number of employees in Cook County: Same as above

Estimated Number of construction jobs: TBD

Proposed use of property: Industrial use- fabricating, warehousing and distribution

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 ab...

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