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File #: 20-0966    Version: 1 Name: VK ACQUISTION-OAKTON 6B
Type: Resolution (Class 6B) Purchase for Value Status: In Committee
File created: 12/31/2019 In control: Business and Economic Development Committee
On agenda: 1/16/2020 Final action:
Title: PROPOSED RESOLUTION VK ACQUISITIONS IV, 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: VK Acquisitions IV, LLC Address: 31 East Oakton Street, Des Plaines, Illinois, 60018 Municipality or Unincorporated Township: Des Plaines Cook County District: 17 Permanent Index Number: (2) PINs: 09-30-100-003-0000; 09-30-100-060-0000 Municipal Resolution Number: Village of Des Plaines Resolution R-137-19, approved August 5, 2019 Number of month property vacant/abandoned: 9 months at time of application to BED Special circumstances justification requested: Yes Proposed use of property: Industrial-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 a...
Sponsors: TONI PRECKWINKLE (President), SEAN M. MORRISON
title
PROPOSED RESOLUTION

VK ACQUISITIONS IV, 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: VK Acquisitions IV, LLC

Address: 31 East Oakton Street, Des Plaines, Illinois, 60018

Municipality or Unincorporated Township: Des Plaines

Cook County District: 17

Permanent Index Number: (2) PINs: 09-30-100-003-0000; 09-30-100-060-0000

Municipal Resolution Number: Village of Des Plaines Resolution R-137-19, approved August 5, 2019

Number of month property vacant/abandoned: 9 months at time of application to BED

Special circumstances justification requested: Yes

Proposed use of property: Industrial-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 direct financial interest, the County may determine that special circumstances justify finding the property is deemed abandoned; and

WHEREAS, Class 6b requires the validation by the County Board of t...

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