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File #: 21-0384    Version: 1 Name: POWER HOUSE HOLDING LLC CLASS 8 PROPERTY TAX INCENTIVE REQUEST
Type: Resolution (Class 8) Purchase for Value Status: Approved
File created: 12/3/2020 In control: Business and Economic Development Committee
On agenda: 12/17/2020 Final action: 1/28/2021
Title: PROPOSED RESOLUTION POWER HOUSE HOLDING LLC CLASS 8 PROPERTY TAX INCENTIVE REQUEST WHEREAS, the Cook County Bureau of Economic Development received and reviewed a Real Property Assessment Classification 8 application containing the following information: Applicant: Power House Holding LLC Address: 1007 E. 162nd Street, South Holland, Illinois Municipality or Unincorporated Township: Village of South Holland Cook County District: 6 Permanent Index Number: 29-23-109-026-0000 & 29-23-109-027-0000 Municipal Resolution Number: Village of South Holland Resolution approved December 18, 2017 Number of month property vacant/abandoned: 25 months vacant Special circumstances justification requested: Yes Proposed use of property: Commercial - office space Living Wage Ordinance Compliance Affidavit Provided: N/A WHEREAS, the Cook County Board of Commissioners has adopted a Real Property Assessment Classification 8 that provides an applicant a reduction in the assessment le...
Sponsors: TONI PRECKWINKLE (President), DONNA MILLER
title
PROPOSED RESOLUTION

POWER HOUSE HOLDING LLC CLASS 8 PROPERTY TAX INCENTIVE REQUEST

WHEREAS, the Cook County Bureau of Economic Development received and reviewed a Real Property Assessment Classification 8 application containing the following information:

Applicant: Power House Holding LLC

Address: 1007 E. 162nd Street, South Holland, Illinois

Municipality or Unincorporated Township: Village of South Holland

Cook County District: 6

Permanent Index Number: 29-23-109-026-0000 & 29-23-109-027-0000

Municipal Resolution Number: Village of South Holland Resolution approved December 18, 2017

Number of month property vacant/abandoned: 25 months vacant

Special circumstances justification requested: Yes

Proposed use of property: Commercial - office space

Living Wage Ordinance Compliance Affidavit Provided: N/A

WHEREAS, the Cook County Board of Commissioners has adopted a Real Property Assessment Classification 8 that provides an applicant a reduction in the assessment level for an abandoned commercial 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 8; 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 8 requires the validation by the County Board of the shortened period of qualifying abandonme...

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