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File #: 19-4129    Version: 1 Name: LAKE MP LLC 6B PROPERTY TAX INCENTIVE REQUEST
Type: Resolution (Class 6B) Purchase for Value Status: Approved
File created: 6/14/2019 In control: Business and Economic Development Committee
On agenda: 6/27/2019 Final action: 7/25/2019
Title: PROPOSED RESOLUTION LAKE MP 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: Lake MP LLC Address: 3120 West Lake Street, Melrose Park, Illinois 60160 Municipality or Unincorporated Township: Melrose Park Cook County District: 16 Permanent Index Number: 15-04-310-009-0000 and 15-04-310-017-0000 Municipal Resolution Number: Village of Melrose Park Resolution Number 26-19 Number of month property vacant/abandoned: 14 months vacant Special circumstances justification requested: Yes Estimated Number of jobs created by this project: 33 full-timejobs Estimated Number of jobs retained at this location: None Estimated Number of employees in Cook County: Same as above Estimated Number of construction jobs: Five (5) construction jobs Proposed use of property: Industrial use -logistic warehousing...
Sponsors: TONI PRECKWINKLE (President), JEFFREY R. TOBOLSKI
title
PROPOSED RESOLUTION

LAKE MP 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: Lake MP LLC

Address: 3120 West Lake Street, Melrose Park, Illinois 60160

Municipality or Unincorporated Township: Melrose Park

Cook County District: 16

Permanent Index Number: 15-04-310-009-0000 and 15-04-310-017-0000

Municipal Resolution Number: Village of Melrose Park Resolution Number 26-19

Number of month property vacant/abandoned: 14 months vacant

Special circumstances justification requested: Yes

Estimated Number of jobs created by this project: 33 full-timejobs

Estimated Number of jobs retained at this location: None

Estimated Number of employees in Cook County: Same as above

Estimated Number of construction jobs: Five (5) construction jobs

Proposed use of property: Industrial use -logistic 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 abandonment of less than 24 months and purchase for value, by a purchaser in whom the seller has no...

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