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File #: 19-3075    Version: 1 Name: Streamwood 2019 NCB 1 PIN
Type: No Cash Bid Request Status: Approved
File created: 4/18/2019 In control: Finance Subcommittee on Tax Delinquency
On agenda: 4/25/2019 Final action: 6/6/2019
Title: PROPOSED NO CASH BID REQUEST Requestor: Sharon Caddigan, Village Manager, Village of Streamwood Request: Approval of No Cash Bid Request Location: Village of Streamwood Volume and Property Index Number: 061, 06-26-400-004-0000 Summary: The Village of Streamwood, Illinois (the "Village"), hereby requests that the County make a no-cash bid for the following parcel: (the "Property") This Request Package contains one (1) PIN. The Property is a vacant strip of land used for access to adjacent parcels. By acquiring the Property through the Cook County No-Cash Bid Program, the Village will benefit by continued guaranteed access to adjacent parcels of land which have no other access to Irving Park Road. If the Village is successful in acquiring the Property through the No-Cash Bid Program, it will file for tax exempt status and will maintain the property as a tax exempt access road. The Village represents that there currently exists no Third Party Request by a developer, organizat...
Indexes: DEBORAH SIMS, County Commissioner

title

PROPOSED NO CASH BID REQUEST

 

Requestor:  Sharon Caddigan, Village Manager, Village of Streamwood

 

Request:  Approval of No Cash Bid Request 

 

Location:   Village of Streamwood

 

Volume and Property Index Number:

061, 06-26-400-004-0000

 

Summary:  The Village of Streamwood, Illinois (the “Village”), hereby requests that the County make a no-cash bid for the following parcel: (the “Property”) This Request Package contains one (1) PIN. The Property is a vacant strip of land used for access to adjacent parcels. By acquiring the Property through the Cook County No-Cash Bid Program, the Village will benefit by continued guaranteed access to adjacent parcels of land which have no other access to Irving Park Road. If the Village is successful in acquiring the Property through the No-Cash Bid Program, it will file for tax exempt status and will maintain the property as a tax exempt access road.

The Village represents that there currently exists no Third Party Request by a developer, organization, or other private party which would result in the Village’s conveyance of a certificate of purchase for, or perfected tax deed to, the Property to such developer, organization, or private party. The Village authorizes and directs the Village attorneys to obtain the tax deed to this property. The Village will bear all legal and other costs associated with the acquisition of this parcel. The Village agrees to submit an annual report on the status of this parcel for five (5) years or until development is complete, whichever occurs last, as required by the Cook County No-Cash Bid Ordinance, to the Cook County Bureau of Economic Development. Enclosed, please find the Ordinance passed by the Village formally requesting that a no-cash bid be made for the Property. 

 

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