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PROPOSED NO CASH BID REQUEST
Requestor: Barrett F. Pedersen, President, Village of Franklin Park
Request: Approval of No Cash Bid Request
Location: Village of Franklin Park
Volume and Property Index Number:
064, 12-20-401-014-0000
Summary: This Request Package contains one (1) PIN (the “Subject Property”). The PIN requested is currently improved with two (2) unoccupied industrial structures. The structures have been unoccupied since October 2017. The Village intends to use the Subject Property for future economic development and to eliminate blight in order to return the Subject Property to a beneficial use for the citizens of the Village, eliminate its hindrance to ongoing redevelopment efforts in the area surrounding the Subject Property, and enhance the Village’s economic base.
In accordance with the requirements of the Cook County No Cash Bid Program, the Village hereby certifies that it does not have an identified third-party requestor associated with the filing of this application. The Village will accordingly take the necessary steps to have the Subject Property declared tax exempt for municipal use and will submit to the Cook County Board of Review a Real Estate Exemption Complaint for tax exempt status. The Village will maintain tax exempt status until title to the Subject Property is transferred for redevelopment.
The Village has retained legal counsel to obtain the tax deed and will bear all legal and other costs associated with the acquisition of the parcel. The Village agrees to submit, to the Cook County Department of Planning and Development, No Cash Bid Annual Reports on the status of the parcel for five (5) years or until development is complete, whichever occurs last, as required by the Cook County No Cash Bid Ordinance.
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