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PROPOSED SUBSTITUTE TO FILE 19-5319
(Business and Economic Development Committee 9/25/2019 recessed to 9/26/2019)
PROPOSED RESOLUTION
JJ BETTS PROPERTIES, LLC-115 Series 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: JJ Betts Properties, LLC-115 Series
Address: 4857 W. 115th Street, Alsip, Illinois 60803
Municipality or Unincorporated Township: Village of Alsip
Cook County District: 6
Permanent Index Number: 24-21-405-011-0000
Municipal Resolution Number: Village of Alsip, Ordinance No. 2019-04-06
Number of month property vacant/abandoned: Two (2) months vacant. The Village has determined that "special circumstances exist due to the high level of vacant properties in the Village and the a substantial amount of capital necessary to cure the defects in the property as a result of building deficiencies and deferred maintenance.
Special circumstances justification requested: Yes
Proposed use of property: Industrial - manufacturing, 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 purp...
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