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File #: 19-1806    Version: 1 Name: MIF 6620 River (Hodgkins) LLC
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 MIF 6620 RIVER (HODGKINS) 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: MIF 6620 River (Hodgkins) LLC Address: 6620 River Road, Hodgkins, Illinois 60525 Municipality or Unincorporated Township: Village of Hodgkins Cook County District: 16 Permanent Index Number: 18-22-304-004-0000 and 18-22-304-007-0000 Municipal Resolution Number: Village of Hodgkins, Resolution NO. 2018-9 Number of month property vacant/abandoned: One (1) month vacant Special circumstances justification requested: Yes Estimated Number of jobs created by this project: To be determined Estimated Number of jobs retained at this location: To be determined Estimated Number of employees in Cook County: Same as above Estimated Number of construction jobs: 40 construction jobs Proposed use of property: Ind...
Sponsors: TONI PRECKWINKLE (President), JEFFREY R. TOBOLSKI
title
PROPOSED RESOLUTION

MIF 6620 RIVER (HODGKINS) 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: MIF 6620 River (Hodgkins) LLC

Address: 6620 River Road, Hodgkins, Illinois 60525

Municipality or Unincorporated Township: Village of Hodgkins

Cook County District: 16

Permanent Index Number: 18-22-304-004-0000 and 18-22-304-007-0000

Municipal Resolution Number: Village of Hodgkins, Resolution NO. 2018-9

Number of month property vacant/abandoned: One (1) month vacant

Special circumstances justification requested: Yes

Estimated Number of jobs created by this project: To be determined

Estimated Number of jobs retained at this location: To be determined

Estimated Number of employees in Cook County: Same as above

Estimated Number of construction jobs: 40 construction jobs

Proposed use of property: Industrial use - warehousing, manufacturing and/or 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 abandonment of less than 24 months and purchase for val...

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