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File #: 21-3570    Version: 1 Name: AMB Partners II Local L.P.6B PROPERTY TAX INCENTIVE REQUEST
Type: Resolution (Class 6B) No Purchase for Value TEERM Status: Approved
File created: 6/2/2021 In control: Business and Economic Development Committee
On agenda: 6/24/2021 Final action: 7/29/2021
Title: PROPOSED RESOLUTION AMB Partners II Local, L.P.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: AMB Partners II Local, L.P. Address: 825 Arthur Avenue, Elk Grove Village, Illinois Municipality or Unincorporated Township: Elk Grove Township Cook County District: 15 Permanent Index Number: 08-34-302-035-0000 Municipal Resolution Number: Village of Elk Grove, Resolution No.44-20 Number of month property vacant/abandoned: 18 months vacant Special circumstances justification requested: Yes TEERM (TEMPORARY EMERGENCY ECONOMIC RECOVERY MODIFICATION (Vacant for more than 12 months but less than 24 months - No Purchase for Value) Justification: Yes Proposed use of property: Industrial use - warehousing, manufacturing, and/or distribution Living Wage Ordinance Compliance Affidavit Provided: Yes or No WHER...
Sponsors: TONI PRECKWINKLE (President), KEVIN B. MORRISON
title
PROPOSED RESOLUTION

AMB Partners II Local, L.P.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: AMB Partners II Local, L.P.

Address: 825 Arthur Avenue, Elk Grove Village, Illinois

Municipality or Unincorporated Township: Elk Grove Township

Cook County District: 15

Permanent Index Number: 08-34-302-035-0000

Municipal Resolution Number: Village of Elk Grove, Resolution No.44-20

Number of month property vacant/abandoned: 18 months vacant

Special circumstances justification requested: Yes

TEERM (TEMPORARY EMERGENCY ECONOMIC RECOVERY MODIFICATION (Vacant for more than 12 months but less than 24 months - No Purchase for Value) Justification: Yes

Proposed use of property: Industrial use - warehousing, manufacturing, and/or distribution

Living Wage Ordinance Compliance Affidavit Provided: Yes or No

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/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 more than 24 continuous months, there has been no purchased for value by a purchaser and the property is in need of substantial rehabilitation; 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 as abandoned for purpose of the Class 6b TEERM (TEMPORARY EMERGENY ECONOMIC RECOVERY MODIFICATION; and

WHEREAS, in the case of abandonment according to the TEERM definition, abandonment is defined as a facility being vaca...

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