title
PROPOSED RESOLUTION
GRAYHAWK 4, LLC 7C COMMERCIAL URBAN RELIEF ELIGIBILITY ("CURE") RENEWAL PROPERTY TAX INCENTIVE REQUEST
WHEREAS, the Cook County Bureau of Economic Development received and reviewed a Real Property Assessment Classification 7c renewal application containing the following information:
Applicant: Grayhawk 4, LLC
Address: 1501 Feehanville Drive, Mount Prospect, Illinois 60056
Municipality or Unincorporated Township: Village of Mount Prospect
Cook County District: 9
Permanent Index Number: 03-35-200-063-0000 and 03-35-200-064-0000
Municipal Resolution Number: Village of Mount Prospect's Resolution No. 09-20
Use of property: Commercial use - ice skating rink with locker rooms; pizza caf? and pro shop.
WHEREAS, the Cook County Board of Commissioners has adopted a Real Property Assessment Classification 7c or Commercial Urban Relief Eligibility ("CURE") that provides an applicant a reduction in the assessment level for newly constructed or substantially rehabilitated or abandoned commercial property; and
WHEREAS, the Cook County Classification System for a Class 7c (CURE) Assessment defines abandoned property as " property where the buildings and other structures, or portions thereof, have been vacant and unused for more than 12 continuous months and as established by rule of the Assessor.; and
WHEREAS, Class 7c incentives that are granted are renewable and are limited to one renewal that requires the validation of the County Board. The applicant may apply for a renewal on or after the third year of the Incentive, but before the expiration of the fifth year of the Incentive. The applicant must obtain the municipal enabling Ordinance and present such municipal Ordinance to the Board of Commissioners of Cook County as to whether it will validate the renewal; and
WHEREAS, the municipality has submitted a Resolution or Ordinance expressly stating its support and consent to the renewal of the Class 7c incentive; and
WHEREAS, the mu...
Click here for full text